1. 2/6 Warm up Populism review
Please complete the following True/False review on Populism
Farmers were angry during this time due to falling crop prices, and unfair treatment from the railroads…… T/F
The farmers were in favor of the gold standard for currency while the business owners were in favor of the bimetal currency system….. T/F
The Panic of 1893 led to the value of gold dropping and an increase in Populist activity…. T/F
The direct election of Senators, graduated income tax and 8-hour workday are ideas from the Populist movement that are seen in our society today…. T/F
The farmers/Populists were in favor of LESS money being in circulation (deflation)… T/F
The “Cross of Gold” speech was written by Republican nominee William McKinley…. T/F

2. Essential question #1
What were the causes and effects of the Populist movement?
Causes
Farmers in debt
Panic “depressions”
Railroad monopolies
Effects
The Grange, Farmers’ Alliance formed to address farmers’ issues
William Jennings Bryan nominated for President

3. Essential question #2 What led to rapid industrialization in America?
Abundance of natural resources
New developments in technology; transportation, communication, manufacturing
Growing domestic market
Increasing population; cheap labor supply

4. Essential question #3
What was the nature of the corporate business structure and who were the most influential industrialists of the era?
Corporations, Trusts
Limited Liability, Maximum profits
Andrew Carnegie – Steel, John Rockefeller – Oil, JP Morgan – Banking, Cornelius Vanderbilt – Railroads, George Pullman - Train Cars

5. Essential question #4
How did industrialization and the rise of big business impact the relationship among businesses, the workers, and the consumers?
Working conditions worsened to meet demand/cut costs
Business owners showed little intentions to help workers
Jobs increased, mass production of goods and services

6. Essential question #5
What were different philosophies and business techniques used by industrialists during this time period?
Captain of Industry
Providing more jobs, expanding services, philanthropic donations
Robber Baron
Eliminate competition through predatory pricing, overcharging customers

7. Essential question #6
What were the different methods and strategies used by Labor Unions?
Collective Bargaining
Strike

8. Essential question #7
What was the impact of the labor movement and the various strikes that occurred in this period?
Advanced workers’ rights
Set foundation for women’s and civil rights movement

9. Essential question #8
What was the role of the federal government in regulating the economy during this period?
Laissez faire: the government abstained from interfering with the work and activities of businesses

10. Quizlet – 1a Terms