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Explore the impact of the Populist Movement on farmers in the U.S., from the struggles they faced to the reforms they demanded. Learn about the rise of Grange and Farmers' Alliances, the push for Bimetallism, and the pivotal Election of 1896. Discover how Populism shaped American political history.
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Farmers and the Populist Movement • Oliver Hudson Kelly • Grange • Farmers’ Alliance • Populism • Bimetallism • Gold Standard • William McKinley • William Jennings Bryan
Farmers’ Problems • Falling price of crops • Mortgaged farms to continue farming • Banks foreclosed on the farms • RR companies were taking advantage of farmers • Raising cost of shipping • Reforms were needed
Grange • Oliver Hudson Kelly founded the “Grange”(1867) • Originated as a social outlet and educational forum • Grange members began fighting rr companies (1870s) • Grange led to Farmers’ Alliances
Farmers’ Alliances • Groups that sympathized with farmers • Began to educate farmers on lower interest rates and gov’t control over banks and railroad companies
Populism • 1892 • “The Movement of the People” • Demanded reforms to lift the burden for farmers • Gave people a greater voice in government
Populist Reform • Economic Reforms • Graduated income tax • Federal loan programs • Government Reforms • Popular vote for senators • Single terms for pres. and v.p. • 8 hour work day • End of immigration restrictions
Populist Reform cont. • Populists gained political office • 5 populist senators • 3 governors • 1,500ish state legislators
Bimetallism • Panic of 1893 • Farmers were overextended with debts • RR companies were building rr faster than the market could support • Some rr companies went bankrupt • Stock market crashed in May 1893 • People began trading in paper money for gold
Bimetallism cont. • End of 1893 15,000 businesses and 500 banks closed • Brought the issue of the basis of the U.S. monetary system into the pres. Campaign • “Silverites” • Supported bimetallism • Government would back paper money with both gold and silver • Would make more money, but would be worth less • Farmers would be able to pay back loans at a lower cost to them • Believed it would stimulate the economy
Bimetallism cont. • “Gold Bugs” • Favored backing paper money with gold only • President Cleveland supported • Prices would fall • Value of money would increase • Less people would have money
Election of 1896 • William Jennings Bryan • Democrat • Favored bimetallism • This split the Democratic party • William McKinley • Republican • Favored Gold Standard • Populists favored Bryan • Didn’t like his V.P. candidate
Election of 1896 • Populists put all of their chips on bimetallism • Endorsed Bryan • Nominated their own candidate • McKinley had more business support • Bryan went to 27 states making 20 speeches a day
Election cont. • Bryan lost by 500 000 votes • Carried the South • Midwest Farm vote • Some of the West • McKinley took the East • Rest of the Midwest vote • Feared bimetallism would raise inflation
End of Populism • Spent too much time fighting for Bimetallism • Did create a valuable legacy • Proved that the downtrodden could organize and prove to be a political power and create an agenda for change • Many Populist changes enacted in the 20th Century