Farmers and the Populist Movement

1. Farmers and the Populist Movement Main Idea Farmers united to address their economic problems, giving rise to the Populist movement. Why it Matters Now Many of the Populist reform issues, such as income tax and legally protected rights of workers, are now taken for granted.

2. Farmers Unite to Address Common Problems • What economic problems did many farmers face during the late 1800’s? • Crop prices were falling and farmers often mortgage their farms to buy more land and produce more crops. Banks began to foreclose on the farms and farmers couldn’t make their payments. Railroads took advantage by charging excessive prices.

3. Farmers Problems

4. Rise and Fall of Populism • What reforms did the Populist Party promote? • Also known as the People’s Party. It proposed an increase in money supply, which would produce a rise in prices received for goods and services; a graduated income tax; and a federal loan program. They also called for an 8-hour workday and limitations on immigration.

5. The Rise and Fall of Populism

6. How a Graduated Income Tax Works • How a Graduated Income Tax Works • Under a graduated income tax, when you cross into a higher tax bracket, only the income ABOVE the bracket’s floor is subject to the higher rate, NOT one’s entire income.

7. Rise and Fall of Populism • Panic of 1893 • Railroads collapse • Gov. gold reserves wore thin • People traded paper money for gold • Stock Market crashed • Silver plunged • Silver or Gold • Which metal to use for the nation’s currency? • Silverites- “Bimetallism” • “Gold Bugs”- Pres. Cleveland-gold standard

8. Rise and Fall of Populism • Bryan and the “Cross of Gold” • Populist Party- Bimetallism;Free Coinage of silver • Election of 1896 • Rep.-William Mckinley • Dem.-William Jennings Bryan