Populist Movement By Mr. Sims

Economic Hardships for Farmers Falling crop prices High freight and machinery costs Heavy debts

Farmer’s Movements National Grange – first major farmer’s organization – Worked on economic and political issues related to farmers – Hoped to pressure states to regulate freight and grain-storage rates IL, IA, MN, WI – “Granger laws” – Created state commissions to standardize rates – Railroads protested saying that only the federal government could regulate railroads

Farmer’s Movements – Formed cooperatives They bought farm equipment and other goods in large quantities at wholesale prices, thereby cutting costs Weakened by government limits on the power of Interstate Commerce Comm. – Interstate Commerce Act – Prohibited railroads from giving secret refunds to large shippers or charging more for short hauls than long hauls The Alliance Movement – Offered low-cost insurance – Lobbied for graduated income tax – Weakened by racial segregation

Money backed by Silver Gold Standard – every dollar in circulation could be exchanged for a set amount of gold Farmers supported money backed by silver because they wanted to increase the paper money supply. Increasing the paper money supply would reduce the value of the dollar and would enable the farmers to pay off debts more easily.

Populist Party Issues Populist Party – coalition of Alliance members, farmers, labor leaders, and reformers – The party echoed the demands of the National Grange and the Alliance members Graduated income tax, bank regulation, government ownership of railroad and telegraph companies, free coinage of silver, immigration restrictions, shorter workday, voting reforms Election of 1892 – Cleveland is elected again…the only president to serve two nonconsecutive terms

Effects of Silver Silver was a central issue in the 1896 presidential campaign – William McKinley (R) – wanted to uphold the gold standard – William Jennings Bryan (D) – silver standard Populists supported Bryan because of his stand on silver William McKinley won the election with the support of business leaders who opposed free silver The Populist Party fell apart because farmers’ economic situations improved and they lost interest in the party