1. “A Parable on Populism”
The Wizard of Oz
“A Parable on Populism”

2. L. Frank Baum Born in 1856 to a wealthy family in Pennsylvania.
1888- Moves with wife to South Dakota to open a store.
Business fails due to bad credit.
1891- Moves to Chicago to work for the Evening Post.
1900- Along with illustrator W.W. Denslow, writes a “modern fairy tale.”
The Wonderful Wizard of Oz.
Goes on to write 13 other novels about the land of Oz.

3. Baum’s Politics Supported William Jennings Bryan in 1896.
Marched in the torchlight parades.
Wrote a poem for William McKinley in 1896.
Gave a speech to the Democrats against the Republicans.
The next night gave a speech to the Republicans against the Democrats.
What was Baum’s politics?
Relatively unknown!!

4. The Gold and Silver Movement

5. The Money Supply
The total amount of currency (paper and coin) in circulation.
1933- U.S. went to a fiat-money system.
The dollar only has value because people give it value.

6. The Bimetallic Standard
Mint Act of the basic monetary system in the U.S. would be gold and silver coins.
Silver coins grains of pure silver
Gold coins grains of pure gold.
15:1 ratio.
1834- ratio was raised to 16:1.

7. The Gold Standard Gold becomes very plentiful in 1849.
Coinage Act of Silver taken off the list of coins due to its unpopularity.
1875- Congress orders all Civil War greenbacks to be redeemed in Gold.
American unofficially goes on the Gold Standard.

8. The Silver Standard
1870’s- Silver producing states in the West (Nevada, Montana, Idaho) demand a return of silver to circulation at the 16:1 ratio.
Sherman Silver Purchase Act of Congress purchases silver for coinage.
Panic of 1893 is blamed on the Gold Standard.
Populist Party joins the silver crusade.

9. Populism in America

10. Farming in America Farming is the #1 industry in the 1870’s.
Drought, falling prices, and railroad monopolies place an economic strain on the farmers.

11. The National Grange Formed in 1867.
Militant organization of farmers against the railroads and monopolies.
Distrustful of banks and metal coins.
Want to go to greenback currency whose value was controlled by the government.

12. The Populist Party
Created in the 1890’s by ex-Greenback Party members.
Omaha Platform
Establish a paper money system controlled by the government and a 16:1 coin system.
Run James B. Weaver for President in 1892.
Carries 4 states (Colorado, Kansas, Idaho, and Nevada.)
Nominates William Jennings Bryan along with the Democrats in the election of 1896.

13. The Wonderful Wizard of Oz
A Political and Monetary Allegory

14. Dorothy Naïve, young, and simple. Represents the American people.
She is every man led astray who seeks a way home.

15. The Scarecrow Represents the Midwestern farmer. Brainless, but clever.
At the end of the book, he is left in charge of Oz.
Idea probably taken from this 1896 cartoon.

16. The Tin Woodsman Represents the industrial workers.
The Wicked Witch of the East had cursed him so that every time he swung his ax he lost a body part.
Replaced by tin body parts that had rusted to immobility.
The Depression of 1893.
Probably taken from this 1899 soap ad.

17. The Cowardly Lion William Jennings Bryan
Tried to run for President 3 times, but failed.
Politicians were always drawn as lions by 1890’s cartoonists.

18. The Tornado
Used in 1890’s by cartoonists to represent political upheaval.
Represents the silver standard movement that swept the country.

19. Kansas Populist stronghold in the 1890’s.
Represents the sad times on a struggling farm in the Midwest.

20. The Witches
The wicked witches represent the supporters of McKinley in the East and the West.
The good witches represent the supporters of Bryan in the North and the South.

21. The Yellow Brick Road Represents the Gold Standard.
Dorothy’s silver slippers represents the silver standard.
The journey to the Emerald City (greenbacks) represents how both gold and silver must work together to achieve success.
Dorothy could have clicked her silver shoes 3 times and gone home.
Bryan ran for President 3 times.

22. The Wizard President William McKinley.
He appears differently to each character.
He makes promises he cannot keep.
Thought to be all-powerful, but exposed to be a charlatan.

23. Other Characters The Munchkins- the ordinary citizens.
Uncle Henry- Henry Wallace, farm magazine editor.
The Monkeys- The Indians of the Great Plains.
Toto- The Prohibition movement.
“Teetotaler”

24. The Land of Oz Oz= ounce The Emerald City
The standard unit of measurement for silver and gold.
The Emerald City
Green to represent the paper money.