topic 10.4: farmers and populism unrest in rural america –falling prices and rising debt...
TRANSCRIPT
Topic 10.4: Farmers and Populism
• Unrest in Rural America– Falling Prices and Rising Debt
• Greenbacks: U.S. paper money • Inflation: money loses value, higher
prices• Deflation: lower prices, higher
buying power– Deflation Hurts Farmers
• The Crime of ’73: The decision of the government to stop the minting of silver
The Grange– The Grange Takes Action: Oliver H. Kelley: 1867– Focused on teaching farmers NEW TECHNIQUES
MEANT TO INCREASE PROFIT
– The Grange Fails• Didn’t change economic problems of
farmers• Railroads fought back by cutting
services and refusing to lay more track• Wabash v. Illinois: limited a state’s
ability to regulate the railroads, states could not regulate interstate commerce
• The Farmers’ Alliance• Lampasas County, Texas 1877
• Cooperatives: Marketing Organizations to benefit members
– The Alliance Grows• Kansas
• Nebraska
• North Dakota
• South Dakota
• South and Great Plains
– The People’s Party: Populists– The Sub-treasury Plan: called for the government to
set up warehouses where farmers could store crops for low-interest loans until prices increased.
The Beginnings of Populism
• Populism: a political movement founded in the 1890s that mainly: 1) represented farmers, 2) favored free coinage of silver, and 3) favored government control of railroads and other big industries