Populist Party Platform Populist Movement Began with Farmers
Populist Party Platform
Populist Movement ● Began with Farmers (debt) ○ ○ Crop prices falling= less profit for farmers Take out loans and fall further in debt ● Railroads overcharging farmers to ship goods ● Begin with local Granges ○ Local farmers of a particular area (city or county) ● Grow to national organizations ○ Known as Farmers Alliances • • Southern Alliance- white southern farmers Colored Farmers National Alliance- black farmers ● From there, become a national political party known as the Populists
#1 - Farmers in Debt ● Low Crop Prices led to debt ● Deflation- not a lot of money available ● Led to high interest rates and banks would not loan money to farmers
Populist Solution ● Bi-Metalism- switch to a gold/silver standard ● Increase money supply and allow banks more opportunity to give loans
#2 - Railroad Price Fixing ● Railroads overcharged farmers to store and ship crops= more debt ● Railroads gave industrialists rebates and reduce charges
Populist Solution ● Government Control Railroads and Telegraphs- keep prices fair and fixed ● Interstate Commerce Act- railroads must publish rates (ICC- govt. agency in control)
#3 - State Appointed Senators ● State legislatures appoint Senators ● Industry and wealthy able to control government and appointments
Populist Solution ● Direct Election of Senators- people elect Senators ● Lead to 17 th Amendment
#4 - Class Differences ● Extreme income gap between rich and poor ● Farmers and factory workers in debt and facing financial problems
Populist Solution ● Graduated Income Tax ● Income tax- tax on earnings ● Graduated Income Tax- wealthy pay more (tax based on how much you earn)
#5 - Corrupt Government ● Politicians overly influenced by wealthy business owners ● Credit Mobilier Scandal- Railroad owners bribe government officials for loans and money that was stolen and not used for railroad ● Former General/President Grant Administration
Populist Solution ● One Term President- presidents only serve one term (4 years) ● 22 nd Amendment- limit President to 2 terms ● Initiative- people propose bills ● Referendum- people pass bills
#6 - Working Conditions ● Workers ○ ○ ○ Low Pay Long Hours Dangerous Conditions ● Triangle Shirtwaist Fire ○ 146 sweatshop women killed due to conditions
Populist Solution ● 8 hour workday for workers ● Minimum Wage Laws will eventually be passed
1896 Presidential Election ● William Jennings Bryant nominated by Democratic and Populist Party -Cross of Gold Speech – supports the “free coinage of silver” (silverites) ● William Mc. Kinley nominated by Republicans - supports America remaining on the gold standards (goldbugs) ● Mc. Kinley wins the election and the Populist Party dies out, but its reform ideas are adopted by Republicans and Democrats during the Progressive Era (1890 – 1920)
1896 Election Results
Monopoly ● Monopoly- one company has complete control over an industry, no competition ● 2 ways to form a monopoly ○ Vertical Integration- when one industry controls all parts of production for a product • ○ Example- Andrew Carnegie’s Steel Company Horizontal Integration- when one company controls the entire industry (eliminate competition by buying out competitors) • Example- John Rockefeller’s Oil Company
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