PopulismPopulism

PopulismPopulism

Primarily an agrarian movementPrimarily an agrarian movementFarmers experienced hardshipsFarmers experienced hardships– Overproduction Overproduction

Technology increased productionTechnology increased productionAs Great Plains opened for settlement more areas As Great Plains opened for settlement more areas were cultivatedwere cultivatedPrices went down Prices went down

– Unpredictability of weatherUnpredictability of weather– Tariffs made farmers pay more for American Tariffs made farmers pay more for American

made equipmentmade equipment

Granger movementGranger movement

– Began in 1867- mostly social gatheringsBegan in 1867- mostly social gatherings– After problems occurred became more than After problems occurred became more than

social gatheringssocial gatheringsDeveloped stores, cooperatives, processing plants, Developed stores, cooperatives, processing plants, and factoriesand factories

““Granger Laws”- attempted to regulate railroad Granger Laws”- attempted to regulate railroad shipping and storage feesshipping and storage fees

Farmers’ allianceFarmers’ alliance

– 1890- 1.5 million members1890- 1.5 million members– Made detailed agendas for actionMade detailed agendas for action

Strict regulations on railroads (pushed for Strict regulations on railroads (pushed for nationalization)nationalization)

Monetary policies that would cause inflationMonetary policies that would cause inflation– Made it easier to pay debtsMade it easier to pay debts

– Government agency that offered low interest Government agency that offered low interest loansloans

Government run storage facilitiesGovernment run storage facilities

Populist Party Populist Party “ The People’s Party”“ The People’s Party”

New political party consisting of farmers’ New political party consisting of farmers’ alliance, southern democrats, some labor alliance, southern democrats, some labor unions, and a few small reform partiesunions, and a few small reform parties

Believed that government was run by the Believed that government was run by the industrialistsindustrialists – The gap between the rich and the poor was growingThe gap between the rich and the poor was growing

““Corruption dominates the ballot-box, the legislatures, the Corruption dominates the ballot-box, the legislatures, the congress, and touches even the ermine of the bench [i.e., the congress, and touches even the ermine of the bench [i.e., the courts]…. From the womb… of governmental injustices we courts]…. From the womb… of governmental injustices we breed the two great classes-tramps and millionaires”breed the two great classes-tramps and millionaires”

Populist PartyPopulist Party

– DemandsDemandsFree coinage of silverFree coinage of silver

End to tariffs and the national bankEnd to tariffs and the national bank

Direct election of senatorsDirect election of senators

Graduated income tax- Higher income = higher Graduated income tax- Higher income = higher taxestaxes

Regulation of big businessRegulation of big business

Populist PartyPopulist Party

Had success in the South and the WestHad success in the South and the WestWon seats in state legislature and U.S. houseWon seats in state legislature and U.S. house

Won over many southern democratsWon over many southern democrats

Nominated James Weaver for President in 1892Nominated James Weaver for President in 1892– 22 elect. Votes (5 states)22 elect. Votes (5 states)

Depression 1893Depression 1893– Repeal of the Sherman Silver Purchase ActRepeal of the Sherman Silver Purchase Act– Democrats split into two groups: Gold-bugs Democrats split into two groups: Gold-bugs

and Silveritesand Silverites

FarmersFarmers Inflation (100%)Inflation (100%) Deflation (100%)Deflation (100%)

Income $2000Income $2000 $4000$4000 $1000$1000

Mortgage payment - $1000Mortgage payment - $1000 - $1000- $1000 - $1000- $1000

New equipment cost - $500New equipment cost - $500 - $1000- $1000 - $250- $250

Groceries - $200Groceries - $200 - $400- $400 - $100- $100

Feed - $100Feed - $100 - $200- $200 - $50- $50

Money Remaining $200Money Remaining $200 $1400$1400 - $400- $400

BankersBankers Inflation (100%)Inflation (100%) Deflation (100%)Deflation (100%)

Deposits $2500Deposits $2500 $5000$5000 $1250$1250

Loans - $5000Loans - $5000 - $10,000- $10,000 - $2500- $2500

Money in bank $ 5000Money in bank $ 5000 $5000$5000 $5000$5000

Utilities - $500Utilities - $500 - $1000- $1000 - $250- $250

salaries - $ 1000salaries - $ 1000 - $2000- $2000 - $500- $500

Money Remaining $0Money Remaining $0 -$3000-$3000 $3000$3000

Election of 1896Election of 1896

RepublicansRepublicans– Support Gold Standard – money supply based only Support Gold Standard – money supply based only

on goldon gold– Nominated William McKinleyNominated William McKinley– Supported by urban workers and business leadersSupported by urban workers and business leaders

Democrats and Populists UniteDemocrats and Populists Unite– Democrats Nominate William Jennings BryanDemocrats Nominate William Jennings Bryan– Populists decide to support BryanPopulists decide to support Bryan

Supported in the south and the westSupported in the south and the west– ResultsResults– McKinley wins PresidencyMcKinley wins Presidency– Gold found in Alaska in 1899Gold found in Alaska in 1899

– Populist Party never wins national support Populist Party never wins national support and eventually failsand eventually fails

Ideas of the party live on and have become lawsIdeas of the party live on and have become laws– Federal income taxFederal income tax– Eight-hour workdayEight-hour workday– Direct election of US senatorsDirect election of US senators– Abandonment of the gold standardAbandonment of the gold standard