FARMERS AND THE POPULIST MOVEMENT - …lawndalehs.org/ourpages/auto/2010/9/6/49770941... · THE POPULIST MOVEMENT Populism: A movement for the common people Created by farmers and
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FARMERS AND THE POPULIST MOVEMENT
Thursday, February 9, 12
AGRICULTURAL HARDSHIPS
1880’s: Crop prices falling rapidly
Banks foreclosing on farms/farmers
Railroads overcharging
Greenbacks (paper money) losing value
Thursday, February 9, 12
FARMERS ORGANIZE
Found the Patrons of Husbandry (Grange)
Social and educational forum for farmers
Fought railroad corruption through lawsuits
Set up farming cooperatives
Sponsored legislation to help
Thursday, February 9, 12
FARMER’S ALLIANCE
Gave lectures on finance
Interest rates, investment
Beginnings of labor organization in agriculture
Thursday, February 9, 12
THE POPULIST MOVEMENT
Populism: A movement for the common people
Created by farmers and working class
1892: Populist Party Created
Thursday, February 9, 12
Thursday, February 9, 12
POPULIST PLATFORM
1. Increased money supply (print more money)
2. Graduated income tax
Rich pay a larger percent of their income
3. Federal loan program (help farmers)
4. Direct election of senators
More power to the people
Thursday, February 9, 12
POPULIST CANDIDATE 1892
Thursday, February 9, 12
BIMETALLISM
America uses Gold Standard
Value of printed money has to match amount of gold in the federal treasury
Populists want to use both gold AND silver
Bimetallism: Two metals
Thursday, February 9, 12
Election of 1892
Thursday, February 9, 12
Thursday, February 9, 12
PANIC OF 1893
Dozens of railroads go bankrupt
Government has limited gold supply
15,000 business and 500 banks go out of business
20% unemployment
Thursday, February 9, 12
ELECTION OF 1896
Republican Party chooses William McKinley
Pro-business, pro-Gold Standard
Populists and Democrats join together
Select William Jennings Bryan (Nebraska)
Thursday, February 9, 12
William Jennings BryanDemocrat
William McKinleyRepublican
Thursday, February 9, 12
THE “CROSS OF GOLD”
Bryan speaks at Democratic convention
Argues for Bimetallism
Against the Gold Standard
Thursday, February 9, 12
If they dare to come out in the open field and defend the gold standard as a good thing, we shall fight them to the uttermost, having behind us the producing masses of the nation and the world. Having behind us the commercial interests and the laboring interests and all the toiling masses, we shall answer their demands for a gold standard by saying to them, you shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold.
--William Jennings Bryan, 1896
Thursday, February 9, 12
Thursday, February 9, 12
MCKINLEY WINS
Major realignment in US politics
GOP wins businessmen, skilled workers, and educated
Democrats win vote of poor, farmers, and activists
Thursday, February 9, 12
Election of 1896
Thursday, February 9, 12
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