The Gilded Age-Farmer’s Revolt• Economic Conditions• Problems with the currency• Granger Movement• Farmer’s Alliances• The Omaha Platform of 1892• The Election of 1896
Farmer’s “villains”
• The Railroads
Farmer’s “villains”
• The Railroads• High Tariffs
Farmer’s “villains”
• The Railroads• High Tariffs• High Debt
Farmer’s “villains”
• The Railroads• High Tariffs• High Debt• Inadequate Currency in circulation
Three Types of Currency
Three Types of Currency
• Greenbacks
Three Types of Currency
• Greenbacks• National Bank Notes
Three Types of Currency
• Greenbacks• National Bank Notes• Metallic Currency - gold and silver
(specie)
The Grange
• Known as the Patrons of Husbandry
• Initiated to relieve the loneliness of farmers and their families
• Also intended to be a forum where they could exchange ideas
Farmer’s Alliances
• Northwestern Alliance• Southern Alliance• Colored Farmer’s Alliance
Mary Lease
The Subtreasury Plan
The Subtreasury Plan
• Allow the farmers to store their crops in Government Warehouses
The Subtreasury Plan
• Allow the farmers to store their crops in Government Warehouses
• Have the government loan them 80% of the value of their crops at 1% interest
The Subtreasury Plan
• Allow the farmers to store their crops in Government Warehouses
• Have the government loan them 80% of the value of their crops at 1% interest
• This would accomplish:• immediate source of cheap
credit
The Subtreasury Plan
• Allow the farmers to store their crops in Government Warehouses
• Have the government loan them 80% of the value of their crops at 1% interest
• This would accomplish:• immediate source of cheap credit• would bring higher prices for
crops
The Subtreasury Plan
• Allow the farmers to store their crops in Government Warehouses
• Have the government loan them 80% of the value of their crops at 1% interest
• This would accomplish:• immediate source of cheap credit• would bring higher prices for crops• solve the lack of currency problem
Tom Watson
Omaha Platform 1892
• Subtreasury Plan• Unlimited Coinage of Silver currency• Increase $ supply to $50/capita• Graduated income tax• postal savings banks• nationalize rr’s, telephone and telegraph• 8 hour work day and outlaw Pinkertons
William Jennings Bryan
William McKinley
The Election of 1896
• Democrat- Wm. Jennings Bryan• Republican- William McKinley