Farmers and the Populist Movement Chapter 5 Section

Farmers and the Populist Movement Chapter 5 / Section 3

Farmers Unite to Address Common Problems l In the late 1800’s many farmers were trapped in a bad economic situation. (crop prices fall) l Also farmers being hurt because of deflation from the Civil War. l Good for consumer but bad for farmers. So they try to persuade the government to increase money supply.

Farmers Unite to Address Common Problems (cont’d) l Led to Bland-Allison Act, increased money supply; wasn’t enough. l Farmers also struggling because increased cost of transportation. l Railroads deal with middlemen. l Left farmers in cycle of credit that meant long hours and more debt.

Farmers Unite to Address Common Problems (cont’d) l Knowing reform needed farmers unite. l Oliver Kelly starts the Patrons of Husbandry. l Becomes known as the Grange, a group created to be a social outlet and educational forum for isolated farmers. l But farmers end up attempting to combat power of railroads.

The Rise and Fall of Populism l Populism, movement seeking to advance interests of farmers and laborers. l Goals of Party: l 1) Increase money supply l 2) Graduated Income Tax l 3) Federal loan program

The Rise and Fall of Populism (cont’d) l Radical reforms for time, but attractive to farmers. l By 1893 depression hits the U. S. l Occurs due to fast growth and to much debt. l People fear paper currency. l Because of Panic of 1893 the two big parties become divided.

The Rise and Fall of Populism (cont’d) l In 1896 election major issues is which metal will rule. l Bimetallism, policy in which government gave people gold or silver in exchange for paper money. l System favored by “free silverites” l “Gold Bugs” want gold standard to back money.

William Mc. Kinley / William Bryan

The Rise and Fall of Populism (cont’d) l Election of 1896 l William Mc. Kinley, Republican candidate who backs gold standard. l William Jennings Bryan, Democratic candidate, party backs both. l Gives “Cross of Gold” Speech; in which he attacks “gold bugs” who back only gold.

The Rise and Fall of Populism (cont’d) l As much backing as Bryan had he still struggles due to lack of funds. l Mc. Kinley wins election of 1896. l Win buries the Populist Party, leaves farmers in remorse. l However, led to many reforms in the 20 th Century.