1. September 27, 2010 Which is best: bimetallism or the gold standard? Writing Assignment Organizing thoughts Outlining Rewriting Homework: Typed essay due Friday & Ch. 14 Sec. 2 pts 1 & 2

2. What problems were the Farmers having? Mortgaging homes Prices low Needed to produce more to make up the difference

3. Economic Distress Greenbacks worthless than hard money Now paying loans in dollars worth more than the dollars they borrowed

4. Railroads: Lack of competition = higher prices to ship goods

5. Farmers’ Alliance Trying to better situation by educating farmers on interest rates

6. What did the Populist or People’s Party want? Increase money supply Produce rise in prices Graduated income tax Federal loan program Election of Senators by popular vote Single terms for President Secret ballot 8 hour work day Restrictions on immigration

7. Bimetallism or Gold Standard? Bitmetallism Government would give citizens gold or silver for their paper currency More money in circulation Products sold at higher prices Inflation – prices rise, value money decreases, more people have money Gold Standard Backing dollars solely with gold Less money in circulation Loans would be repaid in stable money Deflation – prices fall, value of money increases, and fewer people have money

8. Election of 1896 – Who won? William Jennings Bryan Democrat and Populist Cross of Gold speech Bimetallism William McKinley Republican Money backed campaign Speeches from his porch with others touring the country on his behalf Gold standard