2. Explain problems farmers faced during the late 1800s.
Decreasing prices
Railroad monopolies/price gouging
Heavy debt
Gold standard/deflation
Weather/nature

3. What things brought about the decrease in the price of farm products?
More farmers (over supply)
Increased efficiency (over supply)
Education
New inventions
Deflation (dollar worth more)

4. How did the Grange help farmers improve their living and working conditions?
Provide social functions
Provide education
Provide economic help (pool resources, cash exchanges)

5. What did the Populist party platform call for?
In relation to farmers…
Bimetallism
Regulation of railroads
For everyone else…
Direct election of Senators
Graduated income tax
8 hour work day

6. How does bimetallism help farmers/those in debt
How does bimetallism help farmers/those in debt? How does it hurt businessmen?
Bimetallism: Causes inflation, more money, decreases value of dollar, helps pay debt easier
Businessmen hurt because value of cash is lowered, costs for goods higher

7. What were the consequences of the Panic of 1893?
Economy collapses
Thousands of businesses go bankrupt
Unemployment skyrockets
Populist Party gains attention and momentum

8. What is the difference between a “gold bug” and a “silverite”?
“gold bug”: wants a gold standard (no silver coinage)
“silverite”: want both gold and silver coinage

9. How did the election of 1896 bring an end to populism?
Populists partially joined Democratic party
Same candidate (William Jennings Bryan)
Democratic party loses