Farmers and the Populist Farmers and the Populist MovementMovement

Oliver Hudson KellyOliver Hudson KellyGrangeGrange

Farmers’ AllianceFarmers’ AlliancePopulismPopulism

BimetallismBimetallismGold StandardGold Standard

William McKinleyWilliam McKinleyWilliam Jennings BryanWilliam Jennings Bryan

Farmers’ ProblemsFarmers’ Problems

Falling price of cropsFalling price of cropsMortgaged farms to continue farmingMortgaged farms to continue farming

Banks foreclosed on the farmsBanks foreclosed on the farmsRR companies were taking advantage of RR companies were taking advantage of

farmersfarmersRaising cost of shippingRaising cost of shipping

Reforms were neededReforms were needed

GrangeGrange

Oliver Hudson Kelly founded the Oliver Hudson Kelly founded the “Grange”(1867)“Grange”(1867)

Originated as a social outlet and Originated as a social outlet and educational forum educational forum

Grange members began fighting rr Grange members began fighting rr companies (1870s)companies (1870s)

Grange led to Farmers’ Alliances Grange led to Farmers’ Alliances

Farmers’ AlliancesFarmers’ Alliances

Groups that sympathized with farmersGroups that sympathized with farmersBegan to educate farmers on lower Began to educate farmers on lower

interest rates and gov’t control over banks interest rates and gov’t control over banks and railroad companiesand railroad companies

PopulismPopulism

18921892 ““The Movement of the People”The Movement of the People”Demanded reforms to lift the burden for Demanded reforms to lift the burden for

farmersfarmersGave people a greater voice in governmentGave people a greater voice in government

Populist ReformPopulist Reform

Economic ReformsEconomic ReformsGraduated income taxGraduated income taxFederal loan programsFederal loan programs

Government ReformsGovernment ReformsPopular vote for senatorsPopular vote for senatorsSingle terms for pres. and v.p.Single terms for pres. and v.p.8 hour work day8 hour work dayEnd of immigration restrictionsEnd of immigration restrictions

Populist Reform cont.Populist Reform cont.

Populists gained political officePopulists gained political office5 populist senators5 populist senators3 governors3 governors1,500ish state legislators1,500ish state legislators

BimetallismBimetallism

Panic of 1893Panic of 1893Farmers were overextended with debtsFarmers were overextended with debtsRR companies were building rr faster than RR companies were building rr faster than

the market could support the market could support Some rr companies went bankruptSome rr companies went bankruptStock market crashed in May 1893Stock market crashed in May 1893People began trading in paper money for People began trading in paper money for

goldgold

Bimetallism cont.Bimetallism cont. End of 1893 15,000 businesses and 500 banks End of 1893 15,000 businesses and 500 banks

closedclosed Brought the issue of the basis of the U.S. Brought the issue of the basis of the U.S.

monetary system into the pres. Campaignmonetary system into the pres. Campaign ““Silverites”Silverites”

Supported bimetallismSupported bimetallismGovernment would back paper money with both gold Government would back paper money with both gold

and silverand silverWould make more money, but would be worth lessWould make more money, but would be worth lessFarmers would be able to pay back loans at a lower Farmers would be able to pay back loans at a lower

cost to themcost to themBelieved it would stimulate the economyBelieved it would stimulate the economy

Bimetallism cont.Bimetallism cont.

““Gold Bugs”Gold Bugs”Favored backing paper money with gold onlyFavored backing paper money with gold onlyPresident Cleveland supportedPresident Cleveland supportedPrices would fallPrices would fallValue of money would increaseValue of money would increaseLess people would have moneyLess people would have money

Election of 1896Election of 1896

William Jennings BryanWilliam Jennings BryanDemocratDemocratFavored bimetallismFavored bimetallism

This split the Democratic partyThis split the Democratic party

William McKinleyWilliam McKinleyRepublicanRepublicanFavored Gold StandardFavored Gold Standard

Populists favored BryanPopulists favored BryanDidn’t like his V.P. candidateDidn’t like his V.P. candidate

Election of 1896Election of 1896

Populists put all of their chips on Populists put all of their chips on bimetallismbimetallism

Endorsed BryanEndorsed BryanNominated their own candidateNominated their own candidate

McKinley had more business supportMcKinley had more business supportBryan went to 27 states making 20 Bryan went to 27 states making 20

speeches a dayspeeches a day

Election cont.Election cont.

Bryan lost by 500 000 votesBryan lost by 500 000 votesCarried the SouthCarried the SouthMidwest Farm voteMidwest Farm voteSome of the WestSome of the West

McKinley took the EastMcKinley took the EastRest of the Midwest voteRest of the Midwest vote

Feared bimetallism would raise inflationFeared bimetallism would raise inflation

End of PopulismEnd of Populism

Spent too much time fighting for Spent too much time fighting for BimetallismBimetallism

Did create a valuable legacyDid create a valuable legacyProved that the downtrodden could organize Proved that the downtrodden could organize

and prove to be a political power and create and prove to be a political power and create an agenda for changean agenda for change

Many Populist changes enacted in the 20Many Populist changes enacted in the 20 thth Century Century