POPULIST PARTY PLATFORM Goal 4. Populist Movement Began with Farmers Crop prices falling= less profit for farmers Take out loans and fall further.

POPULIST PARTY PLATFORM

Goal 4

Populist Movement

Began with Farmers Crop prices falling= less profit for farmers Take out loans and fall further in debt

Railroads overcharging farmers to ship goods Begin with local Granges

Local farmers of a particular area (city or county) Grow to national organizations

Known as Farmers Alliances Southern Alliance- white southern farmers Colored Farmers National Alliance- black farmers

From there, become a national political party known as the Populists

#1- Farmers in Debt

Low Crop Prices led to debt Deflation- not a lot of money available Led to high interest rates and banks

would not loan money to farmers

Populist Solution

Bi-Metalism- switch to a gold/silver standard

Increase money supply and allow banks more opportunity to give loans

#2- Railroad Price Fixing

Railroads overcharged farmers to store and ship crops= more debt

Railroads gave industrialists rebates and reduce charges

Populist Solution

Government Control Railroads and Telegraphs- keep prices fair and fixed

Interstate Commerce Act- railroads must publish rates (ICC- govt. agency in control)

#3- State Appointed Senators State legislatures appoint Senators Industry and wealthy able to control

government and appointments

Populist Solution

Direct Election of Senators- people elect Senators

Lead to 17th Amendment

#4- Class Differences

Extreme income gap between rich and poor

Farmers and factory workers in debt and facing financial problems

Populist Solution

Graduated Income Tax Income tax- tax on earnings Graduated Income Tax- wealthy pay

more (tax based on how much you earn)

#5- Corrupt Government

Politicians overly influenced by wealthy business owners

Credit Mobilier Scandal- Railroad owners bribe government officials for loans and money that was stolen and not used for railroad

Former General/President Grant Administration

Populist Solution

One Term President- presidents only serve one term (4 years)

22nd Amendment- limit President to 2 terms

Initiative- people propose bills Referendum- people pass bills

#6- Working Conditions

Workers Low Pay Long Hours Dangerous Conditions

Triangle Shirtwaist Fire 146 sweatshop women killed due to

conditions

Populist Solution

8 hour workday for workers Minimum Wage Laws will eventually be

passed

1896 Presidential Election

William Jennings Bryant nominated by Democratic and Populist Party-Cross of Gold Speech – supports the “free coinage of silver” (silverites)

William McKinley nominated by Republicans- supports America remaining on the gold standards (goldbugs)

McKinley wins the election and the Populist Party dies out, but its reform ideas are adopted by Republicans and Democrats during the Progressive Era (1890 – 1920)

1896 Election Results

Monopoly

Monopoly- one company has complete control over an industry, no competition

2 ways to form a monopoly Vertical Integration- when one industry

controls all parts of production for a product Example- Andrew Carnegie’s Steel Company

Horizontal Integration- when one company controls the entire industry (eliminate competition by buying out competitors) Example- John Rockefeller’s Oil Company