Farmers and the Populist Movement Section 13-3 pp

Preview Questions How did farmers fight back? What did the Populist movement hope to achieve?

Farmers Unite to Address Problems Problems for Farmers – Low Crop Prices – Overproduction – Scarcity of Land – High Shipping Prices (RR’s)

Farmers Unite to Address Problems Greenbacks – Paper money not backed by gold that was issued by the Union during the Civil War – Government began withdrawing greenbacks Increased the value of American money Farmers have to repay loans in money that was worth more than when they borrowed it – Farmers urge the government to increase the money supply

Farmers Unite to Address Problems The Grange – Founded by Oliver Hudson Kelly in 1867 – Purpose: To provide a place for farmers to discuss social and educational issues – Instrumental in fight against RR’s

Rise and Fall of Populism Populism: A movement to gain political and economic power for common people

Rise and Fall of Populism Populist Party Platform – Reforms to help farmers and laborers Increase money supply to increase prices Loan programs 8 hour work day Immigration restrictions – Reforms to make government more democratic Direct election of Senators Secret-ballot elections

Rise and Fall of Populism Panic of 1893 – Causes Overextension of credit Overspending Bankruptcies – Effects Businesses and Banks Fail High Unemployment Debate about bimetallism

Rise and Fall of Populism Gold Standard Less money in circulation – Prices fall – Value of money increases – Fewer people have money Loans repaid in stable money Favored by Republicans Bimetallism More money in circulation – Prices increase – Value of money decreases – More people have money Products would be sold at higher prices Favored by Democrats

Rise and Fall of Populism Election of 1896 – William McKinley (R) defeated William Jennings Bryan (D) – Signals an end of the Populist Movement