1. Farmers and the Populist Movement Oliver Hudson Kelly Oliver Hudson Kelly Grange Grange Farmers’ Alliance Farmers’ Alliance Populism Populism Bimetallism Bimetallism Gold Standard Gold Standard William McKinley William McKinley William Jennings Bryan William Jennings Bryan

2. Farmers’ Problems Falling price of crops Falling price of crops Mortgaged farms to continue farming Mortgaged farms to continue farming Banks foreclosed on the farms Banks foreclosed on the farms RR companies were taking advantage of farmers RR companies were taking advantage of farmers Raising cost of shipping Raising cost of shipping Reforms were needed Reforms were needed

3. Grange Oliver Hudson Kelly founded the “Grange”(1867) Oliver Hudson Kelly founded the “Grange”(1867) Originated as a social outlet and educational forum Originated as a social outlet and educational forum Grange members began fighting rr companies (1870s) Grange members began fighting rr companies (1870s) Grange led to Farmers’ Alliances Grange led to Farmers’ Alliances

4. Farmers’ Alliances Groups that sympathized with farmers Groups that sympathized with farmers Began to educate farmers on lower interest rates and gov’t control over banks and railroad companies Began to educate farmers on lower interest rates and gov’t control over banks and railroad companies

5. Populism 1892 1892 “The Movement of the People” “The Movement of the People” Demanded reforms to lift the burden for farmers Demanded reforms to lift the burden for farmers Gave people a greater voice in government Gave people a greater voice in government

6. Populist Reform Economic Reforms Economic Reforms Graduated income tax Graduated income tax Federal loan programs Federal loan programs Government Reforms Government Reforms Popular vote for senators Popular vote for senators Single terms for pres. and v.p. Single terms for pres. and v.p. 8 hour work day 8 hour work day End of immigration restrictions End of immigration restrictions

7. Populist Reform cont. Populists gained political office Populists gained political office 5 populist senators 5 populist senators 3 governors 3 governors 1,500ish state legislators 1,500ish state legislators

8. Bimetallism Panic of 1893 Panic of 1893 Farmers were overextended with debts Farmers were overextended with debts RR companies were building rr faster than the market could support RR companies were building rr faster than the market could support Some rr companies went bankrupt Some rr companies went bankrupt Stock market crashed in May 1893 Stock market crashed in May 1893 People began trading in paper money for gold People began trading in paper money for gold

9. Bimetallism cont. End of 1893 15,000 businesses and 500 banks closed End of 1893 15,000 businesses and 500 banks closed Brought the issue of the basis of the U.S. monetary system into the pres. Campaign Brought the issue of the basis of the U.S. monetary system into the pres. Campaign “Silverites” “Silverites” Supported bimetallism Supported bimetallism Government would back paper money with both gold and silver Government would back paper money with both gold and silver Would make more money, but would be worth less Would make more money, but would be worth less Farmers would be able to pay back loans at a lower cost to them Farmers would be able to pay back loans at a lower cost to them Believed it would stimulate the economy Believed it would stimulate the economy

10. Bimetallism cont. “Gold Bugs” “Gold Bugs” Favored backing paper money with gold only Favored backing paper money with gold only President Cleveland supported President Cleveland supported Prices would fall Prices would fall Value of money would increase Value of money would increase Less people would have money Less people would have money

11. Election of 1896 William Jennings Bryan William Jennings Bryan Democrat Democrat Favored bimetallism Favored bimetallism This split the Democratic party This split the Democratic party William McKinley William McKinley Republican Republican Favored Gold Standard Favored Gold Standard Populists favored Bryan Populists favored Bryan Didn’t like his V.P. candidate Didn’t like his V.P. candidate

12. Election of 1896 Populists put all of their chips on bimetallism Populists put all of their chips on bimetallism Endorsed Bryan Endorsed Bryan Nominated their own candidate Nominated their own candidate McKinley had more business support McKinley had more business support Bryan went to 27 states making 20 speeches a day Bryan went to 27 states making 20 speeches a day

13. Election cont. Bryan lost by 500 000 votes Bryan lost by 500 000 votes Carried the South Carried the South Midwest Farm vote Midwest Farm vote Some of the West Some of the West McKinley took the East McKinley took the East Rest of the Midwest vote Rest of the Midwest vote Feared bimetallism would raise inflation Feared bimetallism would raise inflation

14. End of Populism Spent too much time fighting for Bimetallism Spent too much time fighting for Bimetallism Did create a valuable legacy Did create a valuable legacy Proved that the downtrodden could organize and prove to be a political power and create an agenda for change Proved that the downtrodden could organize and prove to be a political power and create an agenda for change Many Populist changes enacted in the 20 th Century Many Populist changes enacted in the 20 th Century