Populism and Progressivism: Vocab Farmers’ Alliance Grange Populist Party Goldbugs Silverites

The Problems Farmers Face Prices for farmers’ crops began to fall. Trying to make more money, farmers grew more. This only made prices even lower Farmers went into debt to pay for land, tools, machines, etc.

Big Business Hurting Farmers Big Business was successful, but they did things that hurt farmers Railroad companies charged high rates Banks set extremely high interest rates

Farmers Band Together Oliver H. Kelley formed the Grange Focused on educating farmers on the best farming techniques/practices Lobbied government to regulate Railroads rates

Farmers Band Together Farmers’ Alliance Farmers collectively sell crops and help supply each other Pushes for the govt to give farmers low-interest loans Drive cost of farming down and prices up

The Populist Party The Populist Party: A Party of the People Omaha Platform: Coinage of “free silver” to increase money supply and rise prices Graduated Income Tax Govt regulation of Railroads & Banks Other reforms include: Women’s Suffrage Combating Political Corruption

The Gold Standard vs. Silverites Gold Standard: Govt used only gold to back up our paper currency Limited amount of money was in supply….prices go down

The Gold Standard vs. Silverites Silverites: Wanted the government to use gold AND silver to back up the money supply Called “Bimetallism” and would cause inflation Raising prices

Gold Bugs Silverites Bankers and businessmen ONLY GOLD back the money supply (Gold Standard) Prices would be low (good for businessmen) and the value of money would be stable Farmers BOTH silver and gold to back up the money supply (Bimetallism) Food prices would go up. Benefits farmers

Warm up: Progressive Vocab William Jennings Bryan “Cross of Gold” William McKinley

Early Success of the Populists In elections during 1892, the Populist party did well 3 governors, 5 senators, 10 in Congress

William Jennings Bryan Known for his strong speech/debating skills Populists and Democrats would both nominate him to run for president in 1896 Choose Democrat

Bryan’s “Cross of Gold” Speech Bryan’s impassioned speech in favor of bimetallism at DNC in 1896 “You shall not press down upon this brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold”

Election of 1896 William McKinley won the election of 1896 His focus on silver undermined efforts to build bridges to urban voters. He did not form alliances with other groups. McKinley’s campaign was well- organized and highly funded William McKinley won the election of 1896 Populists belief in bimetallism did not appeal to urban workers who would suffer from higher prices The Populist party would fall apart

Legacy of the Populists Programs the Populist party pushed for that become a reality Graduated income tax Regulation of Railroads Flexible monetary system wealthy pay higher taxes, poorest pay lowest rate With over 500 speeches in 1896, Bryan invented the national stumping tour in an era when other presidential candidates stayed home.