Populism study guide

Populism: Political movement to increase farmer’s power and pass pro-farmer legislation.

Problems facing farmers:

New Technology à More crops à Lower prices à Less profit

High Tariffs à Expensive farm machines + Fewer overseas markets

Debt à Eastern banks (High loan interest rates) +

Western railroads ( High shipping rates)

The Money Supply:

• Civil War:  Greenbacks cause inflation à Prices soar

• Post Civil War: End greenbacks and silver coins à Deflation

• Farmers: Falling crop prices à Difficulty paying off loans

• Increase money supply à Greenbacks or Silver coinage (limitless?)

Farmers Take Action:

• Grange: Cooperatives à Reduces shipping rates, crop price fixing

• Farmer’s Alliance: Larger Co-ops, resistance from Big Business

• People’s Party: 1890’s, Local candidates, pro-farmer legislation

• Pro-Alliance Democrats elected in South and West à Few reforms

• Populist Party Platform:

1. Coin silver to increase money supply (16 oz of silver to 1 oz of gold)
2. Reach out to Eastern Workers (Better working conditions, hours, etc.)
3. End to laissez-faire politics

Election of 1896:

• Democrats: William Jennings Bryan à pro silver, powerful speaker
• Republicans: William McKinleyà “Front-Porch Campaign”