The Populist Movement Aim: How successful were the Populists in solving America’s problems?

The Farmer is the Man The farmer is the man Lives on credit till the fall With the interest rates so high It's a wonder he don't die And the mortgage man's the one That gets it all. The farmer is the man Lives on credit till the fall And his pants are wearing thin His condition it's a sin He's forgot that he's the man That feeds them all.

I. Farmers’ Complaints A. Many farmers were in debt and farms were foreclosed (new machinery  greater production  lower prices) B. Tariffs raised prices of manufactured goods and shrank international market C. Reduction in money supply caused deflation, a drop in prices of goods D. The backing of the nation’s currency by gold (gold standard) limited money supply 1. Silverites called for “free silver”- unlimited coining of silver to cause inflation

II. The Farmers Protest A. The Grange pushed for reforms such as railroad regulations & the printing of greenbacks to cause inflation (raise the price of goods) B. The Farmers’ Alliances in many states also attempted to improve farmers’ situations C. These alliances eventually formed the Populist Party (people’s party)

D. Populist Party Platform 1. increase in money supply (inflation) 2. unlimited coining of silver 3. federal ownership of railroads 4. graduated income tax 5. eight-hour work day 6. direct election of U.S. Senators

III. Election of 1896 A. Populists joined with Democrats, and William Jennings Bryan was the candidate B. William McKinley, the Republican candidate, supported big business C. Bryan gave his famous “Cross of Gold” speech condemning the gold standard D. Bryan failed to win working class support in the Northeast and lost the election

IV. Significance  Although Populist Party faded, many of their ideas were later put into law during the Progressive Era  Third Parties, or minor parties, run for political office to introduce new ideas to major parties