The Populist Movement What is the Populist Movement

The Populist Movement What is the Populist Movement & how does it attempt to solve America’s Gilded Age challenges?

I. Farmers’ Problems $2. 00 A. Crop prices fall 1. Corporations buying small farms and creating large single crop bonanza farms 68¢ B. Farmer’s debt increases 1. Small family farms borrowing $ to keep up with bonanza farms (huge single-crop farms owned by corporate agri-businesses) 2. Money rises in value = farmers owe more than they borrowed

D. Railroad shipping rates 1. RR co’s have monopoly, “gouging” (ripping off) the farmers, especially for short hauls 2. Farmers decide to organize to fight these issues (Grangers) 3. Grange leader, Oliver Hudson Kelley, is able to get state laws passed that regulate RR rates

II. Munn v. Illinois, Supreme Court Case, 1876 A. RR Co’s challenge Granger Laws, go to Supreme Court. 1. Sup. Court rules in favor of Grangers, saying states can regulate RR for public benefit, however… 2. Supreme Court rules states can’t regulate railroads crossing state lines (interstate commerce) B. Problem: What if a train crosses from one state to another? C. Solution: Congress passes Interstate Commerce Act in 1887 1. creates Interstate Commerce Commission 2. regulate RR shipping between states

III. Farmers’ Alliances A. Grangers and other groups form new organization, “Farmer’s Alliance” (FA) B. FA wants political changes, sent lecturers from town to town, topics: problems w/ banks, government, the railroad 1. Great speakers like Mary Elizabeth Lease help spread the message Raise less corn and more hell!

IV. Populism: Populist Party aka, “The People’s Party” A. New political party unites farmers & workers – want drastic changes to government, led by William Jennings Bryan B. 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

C. Populist Party Platform- what the Populist Party Believes: A) Increase in money supply- back it by gold OR silver 1. bilmetalism/free silver movement: helps farmers w/ debt & prices B) Graduated income tax – those who make more pay more C) Senators directly elected by people (power to the people!) D) President/VP serve one term E) Eight hour work day Question: Who would agree with this platform?

V. Populist results in their 1 st election (1892) A. 10% of popular vote C. 5 senators B. 3 governors D. 1, 500 state legislators

VI. Panic of 1893 A. Causes: 1)Industry over-expansion, especially railroads (some not needed) 2)Shrinking federal gold reserve 3) Everyone tries to get their $ out of the banks

VII. Depression of 1893: A. Panic of 1893, leads to a depression 1. Results: a) Six major BANKRUPT railroads b) 500 banks COLLAPSED c) 3 million jobs LOST

VIII. Presidential Election of 1896 A. Republicans back gold standard & high tariffs on foreign goods 1. Candidate: William Mc. Kinley B. Democrats back bimetallism & low tariffs 1. Candidate: William Jennings Bryan C. Populists back bimetallism 1. Want William Jennings Bryan but not his running mate (VP), so they nominate another candidate D. Result: Mc. Kinley wins, Why? Dems & Populists split vote

1896 Presidential Election Map