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THE PLIGHT OF THE FARMERS

Farmers were becoming a minority in the USA.

Industrialization means less humans needed!

Crop prices falling.

Less crops sell for → less money for the farmer

Farm machinery and freight costs = expensive!!

Getting the crops to market = losing profits

Farmers have no money → go further into debt

Take out loans to make more money!!
Can’t pay off the debt!!!

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Farmers’ Demands:

Regulate railroad companies!
Make cash more available

Back the dollar with silver, not gold, so dollar will be worth less

Political demands:

single term for President and Vice-President
secret ballot
popular election of Senators

Industrial demands:

8-hour workday
Restrict immigration

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THE GRANGE MOVEMENT

It was primarily a educational organization for rural farmers
Attempted to fix the problems farmers faced
Advocated:

Reduced storage rates
Reduced freight rates
Improved living conditions of the farmers.
Improvements in health and safety conditions

Led to other groups like the Farmers Alliance

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THE FARMERS’ REVOLT

Farmers are unhappy with prices, shipping, storage & profits
Seeking changes to agricultural systems
The Farmers Alliance & the Grange created the Populist Party to fight for farmers

Party of the people (populous)

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THE POPULIST PARTY

Desired financial reforms (money)
Remove farmers from their debts
Attracted other workers (industrial worker)
Give the people a voice in their government!!

Power to the people!

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Populist Reforms

Populist financial reforms included:

Increase in the money supply (rise in prices)
Graduated income tax system (make more/tax more)
Federal loans program to farmers (help farmers)

Populist political reforms included:

Election of state senators by popular vote
Single term for the president
secret ballots in election
An 8 hour work day
Government restrictions on immigration

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Rise of Populist Party

The Populist party became very popular…

Western & Southern United States

Assisted struggling farmers, factory workers and the average American
Successfully elected 5 Senators, 3 governors and 1500 state legislatures
Populist programs would eventually merge with the Democratic Party

The government is responsible for assisting injustices

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Beginning of the Panic of 1893

Economic Panic
Economy has grown too fast
Farmers have too much debt
Railroad construction expanded faster than markets → no one is using them
Railroad companies go bankrupt

Reading RR, Erie RR, Northern Pacific RR, Union Pacific RR

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Panic of 1893 (cont.)

Other railroads related industries (iron, steel and timber) followed.
General businesses collapsed
Stock Market fails → everyone is selling
By year’s end 8,000 businesses and 400 banks had failed.
3 million workers lost jobs.
December 1894 20% of the work force was unemployed

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1896 Presidential Candidates

William Jennings Bryan

William McKinley

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Free Silver Issue

Central issue in the election was which metal would be used to back American currency…
“Free Silver” favored bimetallism

Give silver of gold for American currency
Allow more currency to be in circulation

“Gold Bugs” wanted only gold (gold standard)

American dollars backed solely with gold
More expensive dollars but more stable (less dollars)

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Williams Jennings Bryan

Delivered “Cross of Gold” speech

Argued bimetallism → allow the U.S. to prosper
“you shall not crucify mankind upon a cross of gold”
Our economy should not suffer the gold standard

Nominated by both Democrats & Populists for election of 1896

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THE ELECTION OF 1896 AND THE END OF POPULISM

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