Farmers and the Populist Movement

Section 13-3 pp. 435-429

Preview Questions

• How did farmers fight back?

• What did the Populist movement hope to achieve?

Farmers Unite to Address Problems

• Problems for Farmers – Low Crop Prices – Overproduction – Scarcity of Land – High Shipping Prices (RR’s)

Farmers Unite to Address Problems

• Greenbacks – Paper money not backed by gold that was issued

by the Union during the Civil War – Government began withdrawing greenbacks• Increased the value of American money • Farmers have to repay loans in money that was worth

more than when they borrowed it

– Farmers urge the government to increase the money supply

Farmers Unite to Address Problems

• The Grange – Founded by Oliver

Hudson Kelly in 1867 – Purpose: To provide a

place for farmers to discuss social and educational issues

– Instrumental in fight against RR’s

Rise and Fall of Populism

• Populism: A movement to gain political and economic power for common people

Rise and Fall of Populism

• Populist Party Platform– Reforms to help farmers and laborers• Increase money supply to increase prices • Loan programs • 8 hour work day • Immigration restrictions

– Reforms to make government more democratic• Direct election of Senators • Secret-ballot elections

Rise and Fall of Populism

• Panic of 1893– Causes• Overextension of credit • Overspending • Bankruptcies

– Effects • Businesses and Banks Fail• High Unemployment • Debate about bimetallism

Rise and Fall of Populism

Gold Standard• Less money in circulation

– Prices fall – Value of money increases– Fewer people have money

• Loans repaid in stable money

• Favored by Republicans

Bimetallism • More money in circulation

– Prices increase – Value of money decreases – More people have money

• Products would be sold at higher prices

• Favored by Democrats

Rise and Fall of Populism

• Election of 1896 – William McKinley (R)

defeated William Jennings Bryan (D)

– Signals an end of the Populist Movement