1. The Populist Party Platform Develops

2. Problems facing American Farmers in the late 1800s…

3. Overproduction  Due to: New and more land being developed New machinery that allowed farmers to farm more land, faster

4. Falling prices! …Falling prices!WHY? Supply and Demand! Supply and Demand! Overproduction led to…

5. Falling Prices for Farm Products  supply greater than demand  deflation – prices going down Activity: Calculate a farmer’s profit and loss as crop prices fluctuate

6. Falling prices led to lower incomes BUT…  Farming costs remained high  Mortgage payments stayed the same  Cycle of debt worsened  Interest rates for farmers went up

7. Outsiders caused problems for farmers as well  Middlemen were taking much of the profit  Railroads Had monopolies in certain areas Rebates (discounts) were offered to larger farmers

8. Also… the “money issue”  Money was ‘tight’  Gold Standard Scarcity of gold meant scarcity of money  Value of money went up

9. Page 404 in The Americans Gold Bugs Silverites Who They Were What They Wanted Why Effects

10. Quickwrite: Do think city dwellers would be gold bugs or silverites? Explain.

11. When laborers had problems…

12. When farmers had problems…

14. Farmers felt the rich ran the country  Wanted more democracy  Not more wealth, more commonwealth  Wanted to change the democratic system

15. Goals of Populists:  End farmer debt  Give people a greater voice in government  Expand power of Federal government

16. Platform of the Populists  Economic Reform: Increase supply of money Government loan program Progressive, or graduated, income tax Government control of RR and warehouse prices

17.  Government Reform: Vote by secret ballot Election of Senators by popular vote Right to propose and vote directly on laws

18.  Government Reform (cont…): Single term for president Referendum Recall Initiative Quickwrite: How would these government reforms give common people more power in government?

19.  Labor Reform: 8-hour workday Immigration restrictions No government aid to corporations

20. Election of 1896  Who were the candidates?  Reading: A Voice for the Farmers  What were the results? How do they show the continued regionalism of the U.S.?

22.  Most influential 3 rd party in U.S. political history  Government viewed as responsible for reforming social injustices  Almost all original Populist demands were eventually put into law  Led to the Progressive Movement