Farmers and the Populist Movement

1. Farmers and the Populist Movement Chapter 5 / Section 3

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

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

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

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

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

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

9. William McKinley / William Bryan

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

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