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Section 4-Main Idea Big Ideas Economics and Society The Populist movement and its presidential candidate William Jennings Bryan strongly supported silver as the basis for currency.

Section 4-Key Terms Content Vocabulary populism greenbacks inflation deflation cooperatives graduated income tax Academic Vocabulary bond currency strategy

Section 4-Key Terms People and Events to Identify Farmers’ Alliance People’s Party William Jennings Bryan William McKinley

A.A B.B Section 4-Polling Question Do you feel that presidential candidates must be eloquent speakers in order to run for office? A.Yes B.No

Section 4 Unrest in Rural America Deflation, low crop prices, and tariffs hurt farmers economically.

Section 4 Populism was a movement to increase farmers’ political power and to work for legislation in their interest.Populism Some farmers thought adjusting the money supply would solve their economic problems. Unrest in Rural America (cont.) −During the Civil War the federal government issued millions of dollars in greenbacks.greenbacks −This increase in the money supply without an increase in goods for sale caused inflation.inflation

Section 4 To get inflation under control, the federal government stopped printing greenbacks, began paying off its bonds, and stopped making silver coins. As the economy expanded, deflation began and hit farmers especially hard.deflation Unrest in Rural America (cont.)

Section 4 In 1867, Oliver H. Kelley founded the first national farm organization, the Patrons of Husbandry, better known as the Grange. Grangers responded to the recession in 1873 by pressuring state legislatures to regulate railroad and warehouse rates. Unrest in Rural America (cont.) Why Were Farmers Having Problems? −They also tried to create cooperatives.cooperatives

Section 4 −None of the strategies the Grangers employed improved farmers’ economic conditions. As the Grange began to fall apart, the Farmers’ Alliance began to form. Unrest in Rural America (cont.) −When Charles W. Macune became the leader of the Alliance, he announced a plan to organize very large cooperatives, which he called exchanges. −Ultimately, the large cooperatives failed.

A.A B.B Section 4 In the case of Wabash v. Illinois which decision did the Supreme Court make? A.States could regulate railroads and commerce that crossed state lines. B.States could not regulate railroads and commerce that crossed state lines.

Section 4 The Rise of Populism Farmers started the People’s Party to fight for their interests and attracted many supporters when a depression hit in the 1890s.

Section 4 Members of the Kansas Alliance formed the People’s Party, also known as the Populists, and nominated candidates to run for Congress and the state legislature. To get the Southern Democrats to support the Alliance, Charles Macune introduced the subtreasury plan. The Rise of Populism (cont.) −Macune believed the plan would enable farmers to hold their crops off the market in large enough quantities to force prices up.

Section 4 The Populists nominated James B. Weaver to run for president in The Populist platform endorsed the following: The Rise of Populism (cont.) −a return to unlimited coinage of silver at a ratio that gave 16 ounces of silver the same value as one ounce of gold −federal ownership of railroads

Section 4 −a graduated income taxgraduated income tax −proposals designed to appeal to organized labor The Rise of Populism (cont.) Grover Cleveland won the election.

A.A B.B C.C D.D E.E Section 4 The People’s Party called for which of the following? A.Free coinage of silver B.An end to protective tariffs and national banks C.Tighter regulation of railroads D.A and B E.All of the above

Section 4 The Election of 1896 Although William Jennings Bryan had the support of the Populists and the Democrats, Republican William McKinley defeated him.

Section 4 The Democrats nominated William Jennings Bryan as their candidate. The Election of 1896 (cont.) −He transformed the campaign for silver into a crusade. −The Populists decided to support Bryan instead of possibly splitting the silver vote. Election of 1896

Section 4 The Republicans nominated William McKinley as their candidate. The Election of 1896 (cont.) −Due to McKinley’s reputation as a moderate on labor issues and as tolerant toward ethnic groups, he won the campaign. The Populist Party declined after Election of 1896

A.A B.B Section 4 Which of the candidates launched a “Front Porch Campaign”? A.William Jennings Bryan B.William McKinley

Section 4-End

Vocab19 populism political movement founded in the 1890s representing mainly farmers, favoring free coinage of silver and government control of railroads and other large industries

Vocab20 greenback a piece of U.S. paper money first issued by the North during the Civil War

Vocab21 inflation the loss of value of money

Vocab22 deflation a decline in the volume of available money or credit that results in lower prices, and, therefore, increases the buying power of money

Vocab23 cooperative store where farmers buy products from each other; an enterprise owned and operated by those who use its services

Vocab24 graduated income tax tax based on the net income of an individual or business and which taxes different income levels at different rates

Vocab25 bond a note issued by the government that promises to pay off a loan with interest

Vocab26 currency paper money used as a medium of exchange

Vocab27 strategy a plan or method for achieving a goal