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6:4● Populism
● Political movement started by farmers● High tariffs (taxes) and lower prices created
economic stress on farmers● Banks and railroads were the 'enemy'
6:4● Greenbacks
● Paper currency not backed up by gold or silver
● Inflation: decline in the value of money● Money loses value – prices rise
● Deflation: increase in the value of money● Money gains value – prices fall
6:4● Grange
● Farmers● Began “cooperatives”
● Cooperative: organizations that try to increase prices and lower costs for their members
6:4● People's Party
● Formed out of the failed “Farmer's Alliance”● “Populists” now a third party● Graduated Income Tax
– The more you earn, the more you are taxed
6:4● Election of 1896
● Populist Party nominate William Jennings Bryan● “Cross of Gold” speech● Republicans nominate William McKinley
6:4● 22nd president: Grover Cleveland● 23rd president: Benjamin Harrison● 24th president: Grover Cleveland
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