1. Do Now: Explain the following quote… “The farmers are the bone of the nation; they produce the largest share of its wealth; but they are getting, they say, the smallest share for themselves.

2. Populism Farmers’ problems and solutions 12/22/20152

3. Farmer’s Complaints Tariffs: –Encourage Americans to buy American goods –Raised prices on manufactured goods –Prevented foreigners from buying farm goods Railroads –Railroads were charging farmers higher rates than larger manufacturers –Interstate Commerce Act: required railroads that shipped between states to charge rates in proportion to the distance traveled. 12/22/2015 3

4. Reform Responses 1.Gold Standard vs. Free Silver Gold Standard: limits the amount of money in circulation and lowers prices; supported by wealthy industrialists; makes the economy more stable and protects the wealth of the rich Free Silver: allows for the unlimited coining of silver and increases prices; supported by farmers; stimulated the economy 12/22/2015 4

5. Reform Responses 2.Organizing the Farmers The Grange: organizes farmers into cooperatives and allowed them to buy supplies and goods in large quantities. (Like Sam’s Club) Also allowed farmers to pressure the government as a group. Success: Interstate Commerce Act 12/22/2015 5

6. Interstate Commerce Act 12/22/2015 6

7. Reform Responses 3.Populism: new political party Built around 5 ideas: 1. Increased circulation of money 2. Unlimited minting of silver 3. Progressive Income Tax: taxes increase with income 4. Government ownership of transportation systems 5. 8-hour work day (to gain support of workers) 12/22/2015 7