CHAPTER 5Section 3Farmers and the Populist Movement

Railroads take advantage of farmers Excessive Prices

Shipping Storage

Farmer’s could not pay their loans.

Farmer’s Unite

The Grange Oliver Hudson Kelley

Isolated Farm Families Social Outlet Educational Forum

Two Alliances Southern Alliance Colored Farmers’

National Alliance

New Political Party Emerges

Populist People’s Party Help farmers and

laborers Party Platform

Increase in $$ supply Graduated income tax Federal loan program

Panic of 1893

Farmers are in debt. Railroads go bankrupt. Government wears thin of gold. Stock market crashes. 15,000 businesses and 500 banks

collapse. 20% of workforce is unemployed.

Bimetallism vs. Gold Standard Bimetallism

“Silverites” Gov’t gives gold

or silver in exchange for paper currency.

Gold Standard “Gold Bugs” Backing dollars

solely with gold.

“Cross of Gold” speech William Jennings Bryan Democratic Convention

Won Democratic Nomination Won Populist Nomination

Excerpt on page 223

McKinley vs. Bryan

Literature of the WestIt certainly had a wide

celebrity...but I was aware that it was only the frog that was celebrated. It wasn't I.

- Mark Twain's

Autobiography

Bret Harte

Questions

What group(s) did the populist party support?

The common people – farmer’s, laborers, poor people.

What was the difference between bimetallism and the gold standard?

Bimetallism was a policy in which currency was backed by gold and silver, the gold standard was a policy in which currency was backed by gold.