1. 13.3 - Farmers and the Populist Movement
Farmers unite to address their economic problems, giving rise to the Populist movement.

2. Economic Distress
Farmers buy more land to grow more crops to pay off debts
After Civil War, government takes greenbacks out of circulation
Debtors have to pay loans in dollars worth more than those borrowed

3. Economic Distress Prices of crops fall dramatically
1870s, debtors push government to put more money in circulation
1878 Bland-Allison Act—money supply increase not enough for farmers

5. Farmers and Railroads
Railroads exploited farmers, charging exuberant fees and high rates:
Lack of transportation alternatives
Limited competition among rail
Farmers lend on credit at higher rates & mortgage their farm

6. The Grange Movement (1867) Farmer’s advocacy group
Social organization turned political activists
Elevated the status of the American farmer

7. The Farmer’s Alliance (1870s)
End the crop lien system (sharecroppers)
Regulation of rail industry
Relaxation of money supply

9. Economic Panic of 1893 Causes:
Railroads go bankrupt (construction outpaced demand)
-Philadelphia & Reading Railroad
Gvt.’s limited gold supply / Bank failures
Estimated 20% unemployment

10. Economic Panic of 1893 Results: Populist March on Washington
Labor strikes
Sectionalism
“Silverites” vs. “Gold Bugs”
Bimetallism vs. Gold Standard

11. Coxey’s Army

13. The Populist Party Platform
Economic: increase money supply, graduated income tax, federal loans
Political: Senate elected by popular vote; secret ballot; 8-hour day
1892, Populist candidates elected at different levels of government
- Democratic Party eventually adopts platform

14. Silver or Gold? Political divisions also regional:
- Republicans: Northeast business owners, bankers
- Democrats: Southern, Western farmers, laborers

15. Silver or Gold?
Bimetallism—system using both silver and gold to back currency
Gold standard—backing currency with gold only
Silverites: bimetalism would create more money, stimulate economy
Gold bugs: gold only would create more stable, if expensive currency

16. Election of 1896
Republicans nominate Ohio governor and former Union general, William McKinley
Front Porch Campaign
Mark Hanna
Democrats nominate former Nebraska congressman, William Jennings Bryan
“Cross of Gold” speech
Populist support
Issues:
Money supply & economic policy

18. http://www. americanrhetoric. com/speeches/williamjenningsbryan1896dnc

20. The End of Populism
McKinley gets East, industrial Midwest; Bryan South, farm Midwest
McKinley elected president; Populism collapses; leaves legacy:
- the powerless can organize, have political impact
- agenda of reforms enacted in 20th century