Farmers and the Populist Movement

Farmers Face Economic Problems Bad weather would often put farmers in debt Poor crop prices made it difficult for farmer to make money Railroads charged high prices to western farmers to ship their crops to the east After the Civil War, the supply of U.S. dollars tightened U.S. dollars were backed by gold, which meant a dollar bill could be exchanged for a dollar’s worth of gold

The Grange Forms Farmers began groups known as the Grange They would meet in halls to discuss their problems The Grange pushed for economic policies to help farmers

Populist Party The Populist Party, or People’s Party formed from many political groups including the Granges In the 1892 election, the Populist Party showed it’s strength by getting 10% of the national vote The Populist Party pushed for reforms like the direct election of Senators and the secret ballot for voting

The Currency Issue Goldbugs vs. Silverites In 1893, there was a financial panic that led to an economic depression that hurt farmers The Populist Party called for “bi-metalism” or “loose money” which was dollars backed by gold or silver, they were called Silverites The Republican Party wanted to keep the gold standard or “tight money”, they were called the Goldbugs

Silverites Silverites were mainly farmers in the central and western states They wanted silver or gold money so that more dollars would be in circulation This would mean more dollars for them to buy things and pay back debts

Goldbugs Goldbugs were mainly the wealthy in the east They wanted the gold standard because their money was more valuable as currency was limited City workers also were goldbugs because they feared “loose money” would lead to inflation

Election of 1896 Bryan vs. McKinley

William Jennings Bryan William Jennings Bryan was nominated by the Populist and Democratic Parties He toured the country promoting bi-metalism His famous “Cross of Gold” speech claimed the farmers were being “crucified” by the gold standard

William McKinley William McKinley ran for the Republicans He did not campaign much and counted on votes from the east His running mate was a young, ambitious politician from New York, Theodore Roosevelt Roosevelt worried the Republican Party so they put him in a position with no real power as a vice-presidential candidate

End of the Populist Party In a close election the Republican candidate William McKinley was elected President The Populist Party collapsed as a political power However, many populist ideas for reform would live on and eventually become realities

McKinley Assassinated Shortly after assuming office, McKinley is killed by a lone gunman at a public reception Teddy Roosevelt becomes the youngest U.S. President The worst fears of the Republican Party come true- a President the Republicans can not control