1. 6:4 ● Populism ● Political movement started by farmers ● High tariffs (taxes) and lower prices created economic stress on farmers ● Banks and railroads were the 'enemy'

2. 6:4 ● Greenbacks ● Paper currency not backed up by gold or silver ● Inflation: decline in the value of money ● Money loses value – prices rise ● Deflation: increase in the value of money ● Money gains value – prices fall

3. 6:4 ● Grange ● Farmers ● Began “cooperatives” ● Cooperative: organizations that try to increase prices and lower costs for their members

4. 6:4 ● People's Party ● Formed out of the failed “Farmer's Alliance” ● “Populists” now a third party ● Graduated Income Tax – The more you earn, the more you are taxed

5. 6:4 ● Election of 1896 ● Populist Party nominate William Jennings Bryan ● “Cross of Gold” speech ● Republicans nominate William McKinley

6. 6:4 ● 22 nd president: Grover Cleveland ● 23 rd president: Benjamin Harrison ● 24 th president: Grover Cleveland

7. 6:4 ● McKinley wins 1896 election ● William McKinley, 25 th president ● “Front Porch Campaign” ● Populist Party declines after 1896