2. 536-544 - Analyze several political cartoons related to the Populist or People’s Party. - Explain the “Crisis” of the 1890s.536-544 - Analyze several political cartoons related to the Populist or People’s Party. - Explain the “Crisis” of the 1890s.

3. Inflation – period when prices rise faster Inflation – period when prices rise faster than the value of money/wages. than the value of money/wages. Deflation – prices decrease Deflation – prices decrease and the value of money increases. and the value of money increases.

4. Inflation vs. Deflation InflationDeflation M = Amount of money in circulation V = Value of money (purchasing power) P = Prices of goods

5. Interpreting Political Cartoons: Interpret the meaning of the cartoon. Interpret the meaning of the cartoon. Label and explain how the cartoonist has used symbolism in the cartoon. Label and explain how the cartoonist has used symbolism in the cartoon.

6. The Crisis of the 1890s Severe economic depression caused widespread discontent among farmers and workers. Causes: Crop prices fell due to international overproduction. Bad weather. Debt overwhelmed many farmers.

7. Price Indexes for Consumer & Farm Products: 1865-1913

8. The Crisis of the 1890s Response: The Farmers Alliance was formed and proposed the following solutions” Cooperatives Easy Credit – Banking Reforms Subtreasury Plan Free Silver (inflation) Government Control of Railroads Congress REJECTED most of their ideas!

9. United We Stand, Divided We Fall  In 1889 both the Northern and Southern Alliances merged into one— the Farmers’ Alliance.

10. The Crisis of the 1890s Response: Third Parties grew such as the Populist (or Peoples’ Party)

11. “Sockless Jerry” Simpson Annie DiggsMary E. Lease Leaders of the People’s Party (Populist Party) James Weaver William Jennings Bryan

12. The Crisis of the 1890s Response: Third Parties grew such as the Populist (or Peoples’ Party) In 1892, the Populist Party organized on a national level in Omaha, NE and ran James Weaver for president, adopted the “Omaha Platform”: Gov’t. ownership of railroads and utilities National Currency Free Silver Subtreasury Plan Graduated Income Tax Redistribute Railroad lands Direct Election of Senators Secret Ballot

13. This hostile cartoon depicts the People’s Party as an odd assortment of radical dissidents committed to a “Platform of Lunacy.”

14. Coxey’s Army, 1894  Jacob Coxey & his “Army” marching to Washington with their “Petition with Boots” to Washington with their “Petition with Boots”

15. The Crisis of the 1890s The Election of 1896 Populists ran William Jennings Bryan. Supported Free Silver.

16. Bryan’s “Cross of Gold” Speech Cross of GoldCross of Gold Bryan’s “Cross of Gold” Speech Cross of GoldCross of Gold You shall not press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon a cross of gold!

17. The Crisis of the 1890s The Election of 1896 Populists ran William Jennings Bryan. Supported Free Silver. Democrats ALSO ran Bryan for president. Republicans ran William McKinley for president. Backed by wealthy Ohio businessman Marcus Hanna. Supported tariffs and Gold Standard.

18. 1896 Election Results