1. The Populists and the Election of 1896 Libertyville HS

2. Rise of the Populist Party Populists were mainly western farmers Populists were mainly western farmers Called for regulation, reform of national politics Called for regulation, reform of national politics Supported “free silver” Supported “free silver” Wanted gov’t help to stop deflation of agriculture prices Wanted gov’t help to stop deflation of agriculture prices Wanted gov’t help to fight back against RRs, other companies Wanted gov’t help to fight back against RRs, other companies

3. Rise of the Populist Party Why form a new political party? Why form a new political party? D, R parties were not responsive to demands of W farmers D, R parties were not responsive to demands of W farmers Both parties supported gold standard Both parties supported gold standard Both parties seen as corrupt Both parties seen as corrupt Both parties seen as controlled by big business Both parties seen as controlled by big business

4. 1892 Omaha Convention Populist party platform Populist party platform Abolition of national banks Abolition of national banks Graduated income tax Graduated income tax Direct election of US senators Direct election of US senators Civil service reform Eight hour work day Gov’t control of RRs, telegraphs, telephones Bimetallism Convention delegates

5. Bimetallism Gold, Silver and “Bimetallism” Gold, Silver and “Bimetallism” Raw gold was brought to US mint and made into coins for depositor, at rate of $20 per oz Raw gold was brought to US mint and made into coins for depositor, at rate of $20 per oz “Free silver” movement wanted raw silver treated in same way as gold, at rate of $1 per oz “Free silver” movement wanted raw silver treated in same way as gold, at rate of $1 per oz Result of policy would have been increase in money supply and inflation Result of policy would have been increase in money supply and inflation

6. Gold vs. Silver Following Civil War, US in deflationary period (prices, wages going down) Following Civil War, US in deflationary period (prices, wages going down) Silver would have increased wages (helped farmers, debtors pay off fixed debt) Silver would have increased wages (helped farmers, debtors pay off fixed debt) Regional interests Regional interests East = gold backed money (int’l trade) East = gold backed money (int’l trade) Midwest, West = silver money Midwest, West = silver money

7. Merging of Populists & Democrats Democratic party adopted many populist causes Democratic party adopted many populist causes In 1896, populists nominated William Jennings Bryan (orator, populist – “The Great Commoner”) In 1896, populists nominated William Jennings Bryan (orator, populist – “The Great Commoner”) At Convention, Bryan gave “Cross of Gold” speech (supported bimetallism) At Convention, Bryan gave “Cross of Gold” speech (supported bimetallism)

8. “Cross of Gold” Speech “Having behind us the producing masses of this nation and the world, supported by the commercial interests, the laboring interests and the toilers everywhere, we will answer their demand for a gold standard by saying to them: You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.”

9. Election of 1896 Considered one of the most dramatic in US history Considered one of the most dramatic in US history Realigning election Realigning election Campaigning candidates Campaigning candidates Private fundraising Private fundraising Campaigning based on class conflict Campaigning based on class conflict New Democratic coalition emerged New Democratic coalition emerged 1896 Election returns, Groton CT

10. Election of 1896 New Democratic coalition New Democratic coalition Democrats (minus their pro-business wing) Democrats (minus their pro-business wing) Populists Populists South South “Silver Republicans” (GOP from western states, supporting bimetallism) “Silver Republicans” (GOP from western states, supporting bimetallism) New Republican coalition New Republican coalition Businessmen Businessmen Professionals Professionals Skilled factory workers Skilled factory workers Prosperous farmers Prosperous farmers

11. Election of 1896 Issues in election Issues in election Bimetallism Bimetallism Gold Standard Gold Standard Free Silver Free Silver Tariff Tariff Bryan campaigned for president! Bryan campaigned for president! Gave over 500 speeches in 100 days Gave over 500 speeches in 100 days Targeted swing states Targeted swing states Mark Hanna, campaign manager for McKinley Mark Hanna, campaign manager for McKinley Result McKinley271 ECV / 7.1 million Bryan176 ECV / 6.5 million