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Farmers and the Populist Movement

Farmers and the Populist Movement. Chapter 5 section 4. Good farming was becoming scarce because: Prices were falling (overproduction) Mortgaged farms to buy more land in order to break even Railroads were overcharging for short routes Deflation. Farmers Unite.

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Farmers and the Populist Movement

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  1. Farmers and the Populist Movement Chapter 5 section 4

  2. Good farming was becoming scarce because: • Prices were falling (overproduction) • Mortgaged farms to buy more land in order to break even • Railroads were overcharging for short routes • Deflation Farmers Unite

  3. The amount of money in circulation declined after the Civil War causing the cost of goods and services to fall. Good news for consumers but not so for merchants and farmers • Farmers hoped an increase in the money supply would provide a little inflation to increase prices • Farmers wanted more money printed! • The Bland Allison Act 1878 did increase the money supply but not by enough Demand for Cheaper Money

  4. Oliver Kelley started the Patrons of Husbandry which provided a social outlet and educational forum for isolated farm families. They changed the name to The Grange. • The Grange taught its members how to organize, how to set up farmers’ coops, and how to sponsor state legislation…this lead to The Farmer’s Alliance. • The Farmers’ Alliance continued the work to educate people about lower interest rates, government control of the railroads and banks, how an increase in the money supply and high tariffs would affect them. Farmers’ Alliances

  5. 1892 the Populist party demanded help: • Increase the money supply • A graduated income tax • Single terms for president and vice president, and • Secret vote These ideas eventually became a part of the Democratic party Platform Which are around today? Populism

  6. Farmers and business people over extended themselves. • Railroads construction had expanded faster than the markets • Philadelphia ,Reading Railroad went bankrupt followed by the Erie and Northern Pacific • Stock Market collapsed • Gold reserves were declning (people trade paper money for gold) • Investments declined along with wages. 3 million people lost their jobs. • Homeless in New York alone was 20,000 Panic of 1893

  7. 1896 things started to look up, and the Populist Party saw the two political parties become more divided because they had different economic concerns –East was conservative Republicans…West and South were Democrats • The central issue of the campaign was bimetallism (using gold and silver to back our currency) Free silver

  8. Ran on the People’s Party called for bimetallism to increase the money supply. • Democrats nominate him to run against William McKinley (Republican) who supported gold only standard, however he stayed with the People’s Party • Bryan delivers Cross Of Gold” speech (p239) William Jennings Bryan

  9. McKinley wins the election with vast support from the East. • Wizard of Oz..clip…what does this have to do with bimetallism? Populism Dies

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