Farmers and the Populist Movement Section 13-3 pp. 435-429.
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Transcript of Farmers and the Populist Movement Section 13-3 pp. 435-429.
Farmers and the Populist Movement
Section 13-3 pp. 435-429
Preview Questions
• How did farmers fight back?
• What did the Populist movement hope to achieve?
Farmers Unite to Address Problems
• Problems for Farmers – Low Crop Prices – Overproduction – Scarcity of Land – High Shipping Prices (RR’s)
Farmers Unite to Address Problems
• Greenbacks – Paper money not backed by gold that was issued
by the Union during the Civil War – Government began withdrawing greenbacks• Increased the value of American money • Farmers have to repay loans in money that was worth
more than when they borrowed it
– Farmers urge the government to increase the money supply
Farmers Unite to Address Problems
• The Grange – Founded by Oliver
Hudson Kelly in 1867 – Purpose: To provide a
place for farmers to discuss social and educational issues
– Instrumental in fight against RR’s
Rise and Fall of Populism
• Populism: A movement to gain political and economic power for common people
Rise and Fall of Populism
• Populist Party Platform– Reforms to help farmers and laborers• Increase money supply to increase prices • Loan programs • 8 hour work day • Immigration restrictions
– Reforms to make government more democratic• Direct election of Senators • Secret-ballot elections
Rise and Fall of Populism
• Panic of 1893– Causes• Overextension of credit • Overspending • Bankruptcies
– Effects • Businesses and Banks Fail• High Unemployment • Debate about bimetallism
Rise and Fall of Populism
Gold Standard• Less money in circulation
– Prices fall – Value of money increases– Fewer people have money
• Loans repaid in stable money
• Favored by Republicans
Bimetallism • More money in circulation
– Prices increase – Value of money decreases – More people have money
• Products would be sold at higher prices
• Favored by Democrats
Rise and Fall of Populism
• Election of 1896 – William McKinley (R)
defeated William Jennings Bryan (D)
– Signals an end of the Populist Movement