The Populist Movement How does the Populist Movement

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The Populist Movement How does the Populist Movement plan to rescue America?

The Populist Movement How does the Populist Movement plan to rescue America?

Farming Problems $2. 00 1. Less printed money available in US – value of

Farming Problems $2. 00 1. Less printed money available in US – value of money rises • Hurts farmers who borrowed a lot in past, have to payback when $ is worth more 2. Crop prices start falling 68¢

3. Railroad shipping rates • RR co’s have monopoly, “gouging” the farmers, especially for

3. Railroad shipping rates • RR co’s have monopoly, “gouging” the farmers, especially for short hauls • Farmers decide to organize to fight these issues (Grangers)

Farmers’ Alliances • After failure of Grange movement, farmers form new organization, Farmer’s Alliance

Farmers’ Alliances • After failure of Grange movement, farmers form new organization, Farmer’s Alliance • FA sent lecturers from town to town • Topics: banks, government, the railroad • Great speakers like Mary Elizabeth Lease get message spread

Populism • New political party out to help farmers & workers – want drastic

Populism • New political party out to help farmers & workers – want drastic changes to government, led by William Jennings Bryan • Bryan saw his Populist cause as “righteous” (Cross of Gold) “We seek to restore the government of the Republic to the hands of the ‘plain people’…We assert our purposes to be identical with the purposes of the National Constitution. ” –People’s Party platform

Populist Party Platform 1) Increase in money supply – raises prices farmers make more

Populist Party Platform 1) Increase in money supply – raises prices farmers make more $ 2) Graduated income tax – those who make more pay more 3) Senators directly elected by people 4) President/VP serve one term 5) Eight hour work day 6) Paper money backed by gold OR silver (bilmetalism)

Populist results in their 1 st election -10% of popular vote -5 senators -3

Populist results in their 1 st election -10% of popular vote -5 senators -3 governors -1, 500 state legislators

Panic of 1893 Causes: 1)Industry over-expansion, especially railroads 2)Shrinking federal gold reserve

Panic of 1893 Causes: 1)Industry over-expansion, especially railroads 2)Shrinking federal gold reserve

Depression of 1893: - Panic of 1893, leads to a depression Results: 1)Six major

Depression of 1893: - Panic of 1893, leads to a depression Results: 1)Six major BANKRUPT railroads 2) 500 banks COLLAPSED 3) 3 million jobs LOST

Presidential Election 1896 -Republicans back gold standard Candidate: William Mc. Kinley -Democrats back bimetallism

Presidential Election 1896 -Republicans back gold standard Candidate: William Mc. Kinley -Democrats back bimetallism Candidate: William Jennings Bryan -Populists back also support bimetallism Like William Jennings Bryan but not his VP, so they nominate another candidate Result: Mc. Kinley wins, Why? Dems & Populists split vote