populism take 2
DESCRIPTION
TRANSCRIPT
Populism
“What you farmers need to do is raise less corn and more Hell!”
Mary Elizabeth Lease (1890) Populist Organizer
By the late 1800’s hardship had replaced the prosperity that farm
families enjoyed after the Civil War. American farmers now faced hard
times because of their own overproduction of crops.
Many would blame the farmers for their own problems because they
didn’t follow the economic belief of “supply and demand”
3
Populism:
What?
• Political movement that tried to help out the nation’s struggling farmers
4
Populism
Why?
1. Mechanization - More machines = more debt
2. New Farm Land More land (on credit) = more debt
Farmers were in trouble because of...
5
Populism
Why?
3. Specialization of Crops - Farmers only raise one crop (leads to trouble if that crop has problems)
4. Disasters - floods, boll-weevil, grasshoppers
Farmers were in trouble because of...
Price Indexes for Consumer & FarmProducts: 1865-
1913
Price Indexes for Consumer & FarmProducts: 1865-
1913
7
Populism
Why?
5. Corporate Greed Barbed wire trust, Harvester Trust, Fertilizer Trust, Banks, and Railroads
Farmers were in trouble because of...
"The Iron Horse Which Eats Up The Farmers' Produce.” 1873
8
The Grange
• Farmer’s Union founded by Oliver Kelly (MN)
What?
• Cooperative movement - farmers pooled their money to make shared purchases of machinery, supplies, insurance, etc.
• Worked for pro-farmer laws
• Ex. Interstate Commerce Act - regulated rates of railroads
How?
Government Regulation
Interstate Commerce
Commission(1887)
In 1887, Congress passed the Interstate Commerce
Act that setup the ICC. The federal government has the
ability to regulate all aspects of interstate
commerce. Rebates and drawbacks were illegal.
ShermanAntitrust
Act(1890)
In 1890, Congress passed this act which prohibited
monopolies or any business that prevented fair
competition.
With the rise of the Populist Movement: Big Business is regulated
10
Populist Party & Free Silver
Why?• Populists believed that this would
solve nearly all of the farmer’s problems
• They wanted to use both silver and gold coins, thus increasing the amount of money in the country
What?
• All money would be worth less, a situation that was bad for creditors (big banks) and good for debtors (farmers)
Silverites or farmers wanted an increase in the money supply, the
amount of money in the national economy. As a result, the value of every dollar
drops, leading to a widespread rise in prices, or inflation.
This trend would benefit people who borrow money (farmers), but it would not
be good for money lenders (banks). A decrease in the money supply would
cause deflation. Monetary policy, the federal
government’s plan for the makeup and quantity of the nation’s money supply,
thus emerged as a major political issue.
Gold bugs were against this because with a smaller money supply prices would drop
and each dollar buys more. This would take the US off the gold
standard and hurt our credibility in the International trade markets who were on the gold standard. Good for people who
lent moneyBefore 1873 U.S. currency was on a
bimetallic standard, consisting of gold and silver.
Then Congress put the currency on a gold standard which decreased the money
supply. “Gold bugs” (big lenders) were pleased.
13
A Populist President?
William Jennings Bryan
• Ran as a Populist President in 1896 on platform of Free Silver
“You shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold” -- W.J. Bryan
• Big business opposes his run, Republicans win the white house, & Populists fade away
14
The Wizard of Oz
• Written by Active Populist L. Frank Baum
• Most things in the book represent something important to the populist movement
Gold Triumphs Over SilverGold Triumphs Over Silver
McKinley defeats Bryan in the
1896 election.1900 Gold
Standard Act
Confirmed the nation’s commitment to the gold standard.
A victory for the forces of conservatism.
16
The Wizard of Oz
Basic Symbols:
Ruby Slippers
- In the book, were actually “Silver Slippers” (magic of Free Silver)
Yellow Brick Road
- “Gold” many dangers for regular people (like Dorothy)
17
The Wizard of Oz
Characters:
Dorothy - Everyman
Scarecrow - Farmers
Tin Man -Industrial Workers
18
The Wizard of Oz
Characters:
Cowardly Lion
- William Jennings Byran
(a pacifist)
Toto Temperance Activists
(allies of the Populists)
Wizard - President
of the United States
19
The Wizard of Oz
Places:
Emerald City - Washington D.C. (in the book, the color came from Green Glasses that everyone wore, a trick)
Good Witches of
North & South
- Directions where Populists had friends (Midwest and South)