II. POPULISM

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II. POPULISM

• A. Populism
• 1. Increase farmers political power
• 2. Farm prices had dropped and high tariffs
• B. Money Supply
• 1. Greenbacks for the war lead to inflation
• C. Deflation and Farmers
• 1. Need loans lack of money high interest
  rates tough on farmers
• D. The Grange Steps In
• 1. Oliver Kelley founds the Grange
• a. At first social help
• 2. 3 pressures
• a. Regulate rates of warehouse and railroads
• b. Join a new political party

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SECTION 2 CONTINUED

• c. Created cooperatives
• 3. The Grange fails
• E. The Farmers Alliance
• 1. Create massive cooperatives which would help
  prices
• 2. More disappointment
• a. Bad loans
• b. Railroads ignored them
• c. Still too small

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SECTION 2 CONTINUED

• 3. Peoples Party Developed Populism
• a. Sherman Silver Purchase Act of 1890 Rep.
  Act to keep farmers with them
• b. Southerners jump party to Populist
• c. President nominee James Weaver
• 1. Make the government change things
• 2. Put silver back into circulation
• d. Cleveland wins the election - 1892

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SECTION 2 CONTINUED

• 4. Panic of 1893
• a. Railroads declared bankruptcy
• b. Stock Market Crash
• 5. Goldbugs and Silverites
• G. The Election of 1896
• 1. Demo William Jennings Bryan supported
  silver
• a. Powerful speaker
• 2. Rep. William McKinley
• a. Blamed problems on Clevelands
  administration
• 3. McKinley wins the election
• 4. Populism declines