Farmers and the Populist Movement

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Farmers and the Populist Movement

• Chapter 5 / Section 3

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Farmers Unite to Address Common Problems

• In the late 1800s many farmers were trapped in a
  bad economic situation. (crop prices fall)
• Also farmers being hurt because of deflation from
  the Civil War.
• Good for consumer but bad for farmers. So they
  try to persuade the government to increase money
  supply.

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Farmers Unite to Address Common Problems (contd)

• Led to Bland-Allison Act, increased money supply
  wasnt enough.
• Farmers also struggling because increased cost of
  transportation.
• Railroads deal with middlemen.
• Left farmers in cycle of credit that meant long
  hours and more debt.

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Farmers Unite to Address Common Problems (contd)

• Knowing reform needed farmers unite.
• Oliver Kelly starts the Patrons of Husbandry.
• Becomes known as the Grange, a group created to
  be a social outlet and educational forum for
  isolated farmers.
• But farmers end up attempting to combat power of
  railroads.

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The Rise and Fall of Populism

• Populism, movement seeking to advance interests
  of farmers and laborers.
• Goals of Party
• 1) Increase money supply
• 2) Graduated Income Tax
• 3) Federal loan program

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The Rise and Fall of Populism (contd)

• Radical reforms for time, but attractive to
  farmers.
• By 1893 depression hits the U.S.
• Occurs due to fast growth and to much debt.
• People fear paper currency.
• Because of Panic of 1893 the two big parties
  become divided.

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The Rise and Fall of Populism (contd)

• In 1896 election major issues is which metal will
  rule.
• Bimetallism, policy in which government gave
  people gold or silver in exchange for paper
  money.
• System favored by free silverites
• Gold Bugs want gold standard to back money.

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William McKinley / William Bryan
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The Rise and Fall of Populism (contd)

• Election of 1896
• William McKinley, Republican candidate who backs
  gold standard.
• William Jennings Bryan, Democratic candidate,
  party backs both.
• Gives Cross of Gold Speech in which he attacks
  gold bugs who back only gold.

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The Rise and Fall of Populism (contd)

• As much backing as Bryan had he still struggles
  due to lack of funds.
• McKinley wins election of 1896.
• Win buries the Populist Party, leaves farmers in
  remorse.
• However, led to many reforms in the 20th Century.