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Explain problems farmers faced during the late 1800s. Decreasing prices

Explain problems farmers faced during the late 1800s. Decreasing prices Railroad monopolies/price gouging Heavy debt Gold standard/deflation Weather/nature. What things brought about the decrease in the price of farm products? More farmers (over supply) Increased efficiency (over supply)

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Explain problems farmers faced during the late 1800s. Decreasing prices

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  1. Explain problems farmers faced during the late 1800s. • Decreasing prices • Railroad monopolies/price gouging • Heavy debt • Gold standard/deflation • Weather/nature

  2. What things brought about the decrease in the price of farm products? • More farmers (over supply) • Increased efficiency (over supply) • Education • New inventions • Deflation (dollar worth more)

  3. How did the Grange help farmers improve their living and working conditions? • Provide social functions • Provide education • Provide economic help (pool resources, cash exchanges)

  4. What did the Populist party platform call for? • In relation to farmers… • Bimetallism • Regulation of railroads • For everyone else… • Direct election of Senators • Graduated income tax • 8 hour work day

  5. How does bimetallism help farmers/those in debt? How does it hurt businessmen? • Bimetallism: Causes inflation, more money, decreases value of dollar, helps pay debt easier • Businessmen hurt because value of cash is lowered, costs for goods higher

  6. What were the consequences of the Panic of 1893? • Economy collapses • Thousands of businesses go bankrupt • Unemployment skyrockets • Populist Party gains attention and momentum

  7. What is the difference between a “gold bug” and a “silverite”? • “gold bug”: wants a gold standard (no silver coinage) • “silverite”: want both gold and silver coinage

  8. How did the election of 1896 bring an end to populism? • Populists partially joined Democratic party • Same candidate (William Jennings Bryan) • Democratic party loses

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