Bellwork P. 241 Please answer in full questions 1 and 2

Section 4 Populism What is populism? This will be long but only copy important details don’t copy everything trust me its not all needed What is populism? What lead to the rise in Populism? What was the result of the election of 1896?

Vocabulary/ Key Terms Populism Greenbacks Inflation Deflation Cooperatives Graduated income tax Farmers Alliance Peoples Party William Jennings Bryan William McKinley

Unrest Populism: movement to increase farmers political power through legislation Why join this? New technology Why is this bad? Tarriffs After the Civil War unsure prices made so farmers struggled, formed the farmers alliance and the grange. Also most joined the populist party (After why is this bad) more crops makes prices drop, High tariffs made hard to sell oversees

Money Supply During Civil war increased money supply with greenbacks: paper money exchangeable for gold or silver coins Inflation: decline in the value of money Money loses value prices increase 3 types of money Gold and Silver Coins, Greenbacks, National Bank notes 1865 $30 per person 1895 $23 Makes deflations Deflation: increase in value of money ( After Greenbacks) More money without more goods causes inflation (After money) How do you decrease inflation, pay off bonds and debts

Short on money Deflation caused farmers to borrow for seed and technology Deflation causes prices to drop Interest to rise Mortgages to stay the same Ending of Silver coins “The crime of 73” Death of the farm

Grange takes Action 1866 Oliver H. Kelly tour the South’s farms Forms the Grange in 1867 Met for social and education Later due to recession joined together Cooperatives: marketing organizations that increases prices and lower costs for members So many farmers cant raise price due to competition (After 1866) reports the isolation and orrganizes Patrons of Husbandry or the Grange’ Recession led to 800,000 to 1.5 million member Regulation of Railroad and Warehouse prices Put all crops together spread the costs of shipping and went only when price was high Could not control across state lines Could not regulate railroads

The Farmers Alliance Farmers’ Alliance: newer larger version of the grange 1890 1.5 million to 3 million members South and Great Plains Kansas, Nebraska, S. & N. Dakota Charles W. Macune leader tried large cooperatives Great plan but failed

Rise of Populism Kansas forms the Peoples Party: populists party Nominated candidates for senate and congress South declined this give demands and find a single candidate who supports them

The Subtreasury Plan Government hold crops to give loans to farmers Would force prices up Demanded free coining of silver, end of national banks 1890 South elects 4 governors More than 40 democrats supported the alliance 1 Used to gain southern support 2 regulation of railroads and direct election of senators

Populist runs for President 1891 make the Presidential race have a populist member Southerners willing to join 1892 James B Weaver nominated Called for a graduated income tax: taxed higher earnings more heavily Grover Cleveland wins Started excited to gain power frustrated noone stood by the promise Denounced govn’t refusal to coin silver “vast conspiracy against mankind” 16 :1 silver to gold oz. 8 hour workday Immigrant restrictions Most people stay with democrats

Election of 1896 Republicans endorse Gold standard Democrats favor Cleveland (favors gold) Fail William Jennings Bryan: strong supporter of silver nominated by Democrats Populist party makes free coinage of silver primary battle Hold party after Republicans and Democrats Hopes will vote for silver and leave democrats

Bryan’s Campaign Former Nebraska Congress member 36 years old 600 speeches in 14 weeks Republicans use William McKinley governor of Ohio

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