Populism & the Election of 1896

CHALLENGES FACED BY FARMERS IN 1880s (1) Prices of crops too low (2) Foreign competition (Argentina, Australia, Canada) (3) High costs: Ex: mortgages; interest rates; railroad rates; insurance ; grain storage

Price Indexes for Consumer & Farm Products: 1865-1913

FARMERS’ REPONSES 1876: started The Grange Movement 1880s: Farmers’ Alliances movement Hoped to gain strength from cooperative groups, ex: buying & selling in bulk (like Costco) But not too effective b/c racism in Southern Alliance

Founder of the National Grange of the Patrons of Husbandry (1867)

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

Ocala Demands Adopted by Alliance in Fla Called for: (1) Allowing farmers to store crops in gov’t warehouses in exchange for loans Would allow crop prices to rise as demand rose

(2) Unlimited coinage of silver in 16:1 ratio (16 ounces of silver for every 1 ounce of gold that was coined) Gov’t had been using bimetallism (using 2 metals – gold and silver (“specie” or hard currency) – for coinage of money

Why did farmers support unlimited coinage of silver ?

Silver has lower value than gold Thus, converting currency based more on silver cheapens the value of money, leading to inflation Why did farmers want inflation?

What happens if we convert currency based on a gold standard ? Deflation results ***Bottom line: Gold standard hurts farmers The more silver in the mix, the better for farmers

Controversy over currency In 1873, U.S. gov’t decided to end the coinage of silver money Would keep US on gold std Angered farmers who called it “Crime of '73” Ocala Demands convinced gov’t to begin coining silver again thru passage of : Bland-Allison Act (1878) & Sherman Silver Purchase Act (1890)

Ocala Demands also called for: Lower tariffs New federally-regulated banking system More gov’t regulation of RRs Direct election of US Senators Most of their proposals weren’t adopted during this time

But led to farmers starting a 3rd political party, the Populist Party (or the People's Party) WHY? Farmers believed Northeast industrialists and bankers controlled 2 major parties Sought to remedy abuses of big biz and to promote greater democracy

The Populist (Peoples’) Party James B. Weaver, Presidential Candidate Founded by James B. Weaver and Tom Watson. Omaha, NE Convention in July, 1892. Got almost 1 million popular votes. Several Congressional seats won. James B. Weaver, Presidential Candidate & James G. Field, VP

In 1892, Populists adopted platform similar to Ocala Demands, plus: restrict immigration better working conditions for city workers govt ownership of RRs a graduated income tax

Platform of Lunacy

1892 Election

Bi-Metallism Issue

The Panic of 1893

Here Lies Prosperity

Coxey’s Army, 1894 Jacob Coxey & his “Army of the Commonweal of Christ.” March on Washington  “hayseed socialists!”

Result of Election Returns Populist vote increased by 40% in the bi-election year, 1894. Democratic party losses in the West were catastrophic! But, Republicans won control of the House.

The 1896 Election

ELECTION OF 1896: BATTLE OF SILVER VS. GOLD, TURNING POINT FOR AMERICA WILLIAM MCKINLEY (R)– pro gold & big business WILLIAM JENNINGS BRYAN (D)– “The Great Commoner”

Revivalist oratory style (Dem Party convention, Chicago 1896)

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

Bryan: The Farmer’s Friend (The Mint Ratio) 18,000 miles of campaign “whistle stops.”

Democratic Party Taken Over by the Agrarian Left Platform  tariff reductions; income tax; stricter control of the trusts (esp. RRs); free silver.

Populist Party as snake with Bryan’s head swallowing Dem Party donkey

Republican Mark Hanna: The man behind McKinley’s “Front - Porch” Campaign

Mark Hanna to Candidate McKinley

“A Giant Straddle”: Suggestion for a McKinley Political Poster

The Seasoned Politician vs. The “Young” Newcomer

Into Which Box Will the Voter of ’96 Place His Ballot?

1896 Election Results

Gold Triumphs Over Silver 1900  Gold Standard Act confirmed the nation’s commitment to the gold standard. A victory for the forces of conservatism.

The Wizard of Oz by L. Frank Baum

Henry Littlefield’s “Thesis” (1964): Was it Political Allegory?

Possible metaphors: Tornado  ? Dorothy  ? Toto  ? Kansas  ? Wicked Witch of the East  ? Tin Woodsman  ? Scarecrow  ? Cowardly Lion  ? Yellow Brick Road  ? Silver Slippers  ? Emerald City  ? Oz  ? The Wizard  ? Munchkins  ? Wicked Witch of the West  ? Flying Monkeys  ?

Cartoon from the popular “Puck” Magazine Cyclone = metaphor for political revolution

Book illustration: Political cartoon: Scarecrow/farmer shown in both as helpless, hung up in tree

Mark Hanna as “wizard” (Rocky Mountain News)

Heyday of Western Populism

WHAT WAS IMPACT OF POPULIST PARTY? Failed to achieve many of their goals But still one of most successful & influential 3rd parties in U.S. history **IMPORTANT: Many early Populist proposals later adopted by Progressive-era reformers after 1900

How Populist Party ideas lived on into 20th C. Graduated income tax  16th Amendment (1913) Direct election of U.S. senators  17th Amendment (1913) Gov’t regulation of telephone, telegraph & RRs (altho not ownership!)  done by Pres. T. Roosevelt &Taft (1900-10s) Banking reform done by Pres. Wilson (1914)

Populist influence till ali today?