1. Farmers and the Populist Movement
Chapter 13, Section 3

2. Farmers in Debt Farmers borrow money to buy machinery
Rise of bonanza farms – huge farms that grow a single crop
Farmers raise more crops to make ends meet
Some mortgage their land to buy more property
As production increases, prices fall
At the same time, shipping costs rise
Farmers borrow money to buy machinery

3. Bonanza Farms

4. What have we learned are the dangers of depending on a single crop?
Discussion Stop
What have we learned are the dangers of depending on a single crop?

5. The Rise of the Populist Movement
Between 1885 and 1890, much of the plains experienced drought.
Large, single-crop operations could not compete with smaller farms.
One by one, bonanza farms went bankrupt.

6. The Rise of the Populist Movement
The farmers who survived this disaster found themselves growing as much grain as they could grow on as much land as they could buy.
As a result, they sank deeper into debt.
These challenging conditions drew farmers together in a common cause.
Oliver Hudson Kelly, founder of the Grange

7. 3 Important Economic Concepts:
Supply and Demand
The Gold standard
Inflation
(and deflation)
Fiat Money

8. Is Inflation Always Bad?
Inflation can be good for some people and bad for others, depending on the situation.
You borrow $1000 from the bank to buy a car. Six months later, the value of currency falls.
For you (the borrower), this is a GOOD or BAD thing because . . .
For the bank (the lender), this is a GOOD or BAD thing because . . .

9. Inflation is Not Always Bad!
Inflation can be good for some people and bad for others, depending on the situation.
The price of a farmer’s crop keeps going down due to overproduction and an decrease in the money supply.
Inflation would HELP or HURT this farmer because . . .

10. Farmer’s Organize
The Grange
Farmers’ Alliances
The Populist Party

11. Populist Leaders
AUDIO

12. The Election of 1896

13. The Wizard of Oz: An Allegory for Populism?
Allegory – (n) a story in which the characters and events are symbols that stand for ideas about human life or for a political or historical situation.
Video

14. The Wizard of Oz: An Allegory for Populism?
Oz is short for ounce, the measure for gold and silver.
Dorothy, hailing from Kansas, represents the commoner from middle America
Yellow Brick Road---Gold Standard
Scarecrow---Farmers (no brains by society's standards, but smarter than given credit for)
The Cowardly Lion is William Jennings Bryan; who had a loud roar but little political power.

15. The Wizard of Oz: An Allegory for Populism?
Tin Man---the industrial worker, rusted solid as the factories shut down in the 1893 depression.
Dorothy’s Slippers--Silver exchange (YES they are red in the movie; this was done to make them stand out. In the book the slippers were silver.
The Good Witches represent the magical potential of the people of the North and the South

16. The Wizard of Oz: An Allegory for Populism?
After vanquishing the Wicked Witch of the East (the Eastern bankers) Dorothy frees The Munchkins (the little people). With the witch's silver slippers (the silver standard), Dorothy sets out on the Yellow Brick Road to the Emerald City (Washington, where all the money goes), where they meet the Wizard (the President), who appears powerful, but is ultimately revealed as an illusion; the real Wizard being just a little man who pulls levers behind a curtain.

17. The Wizard of Oz: An Allegory for Populism?
This can be interpreted in two ways: Either, the President himself is really just a little man who pulls levers to sustain an illusion of power, or, the real power of the President rests with the little men behind the curtains who pull the levers and create the illusion.

18. The Wizard of Oz: An Allegory for Populism?
When the real Wizard is exposed, the now enlightened Scarecrow denounces him. Dorothy drowns the Wicked Witch of the West (The western elite, especially land barons and mortgage holders, are the remaining obstacle; rain relieves the drought and permits the farmer to assert his superior power); the water being an analogy for the Midwest drought.

19. The Wizard of Oz: An Allegory for Populism?
The real Wizard flies away in a hot-air balloon, the Scarecrow is left to govern the Emerald City, the Tin Woodsman rules the West, and the Cowardly Lion returns to the forest where he becomes King of the Beasts after vanquishing a giant spider which was devouring the animals in the forest.
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