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Populism

Section 8. Populism. The Rise of Populism. Populism was the movement to increase farmers’ political power and to work for legislation in their interest. Populism had its origins in the years immediately following the Civil War.

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Populism

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  1. Section 8 Populism

  2. The Rise of Populism • Populism was the movement to increase farmers’ political power and to work for legislation in their interest. • Populism had its origins in the years immediately following the Civil War. • A major problem farmers were facing were the declining farm prices because of new technology. • Being able to produce more crops lowered prices. • They were also falling victim to banks which they obtained loans from banks and getting higher shipping rates from railroad.

  3. The Rise of Populism • Another issue that directly affected farmers with the nation’s money supply. • During the Civil War, the government issues greenbacks (paper money) that couldn’t be exchanged for gold or silver. • This caused inflation because the volume of money increased therefore decreasing the value of the money in circulation. • When the value of money goes down the cost of goods increases.

  4. The Rise of Populism • After the war the government stopped printing greenbacks, started paying off some of its bonds, and ceased making silver into coins. • This tightened up the volume of money in circulation raising the value of money and decreasing the value of the price of goods. • This is called deflation. • Deflation caused the prices of crops to fall hurting farmers even more. • This convinced farmers that to be heard in Washington they needed to organize

  5. The Rise of Populism • In 1886 the U.S. Department of Agriculture sent Oliver Kelley to survey the rural South and report the conditions of the farmers in the area. • After gathering data, Kelley concluded that farmers were too isolated and he formed a national farm organization, the Patrons of Husbandry (Grange). • Major purpose was for social communication and education. • After the recession of 1873, the membership jumped from 800,000 to 1.5 million. • Grangers responded to crisis in three ways: • The pressured state legislatures to regulate railroad and warehouse rates.

  6. The Rise of Populism • Grangers responded to crisis in three ways: • The pressured state legislatures to regulate railroad and warehouse rates. • Joined the Independent National Party (Greenback Party). • Pooled their resources and tried to create cooperatives. • Cooperatives are marketing organizations that worked for the benefit of their members. • Cooperatives also pooled farmers’ crops and held them off the market in order to force prices up.

  7. The Rise of Populism • None of the strategies the Grangers employed improved farmers’ economic conditions. • The Greenback Party failed to gain much public support. • The Grange’s cooperatives also failed because they were too small to have any effect on prices, and railroads considered them to much like a union and refused to do business with them.

  8. The Rise of Populism • The Farmers’ Alliance took the place of the Grange in 1877. • Started in Lampasas County, Texas, and led by Charles W. Macune. • Wanted to organize larger cooperatives called exchanges. • The money that would be made by the profit of holding crops off the market would allow for the group to make low interest loans to member farmers.

  9. The Rise of Populism • The larger cooperatives failed as well for several reasons: • They were overextended because of too many loans given to farmers that were never repaid. • Wholesalers, manufacturers, railroads and bankers discriminated against them, making it difficult for them to stay in business. • Failed because they were still too small to dramatically affect world prices for farm products.

  10. The Rise of Populism • As these failures continued the Alliance began to split up. • One group formed the People’s Party or the Populist. • The Populists nominated candidates to run for Congress and the state legislature as well as pushed for political reforms.

  11. The Rise of Populism • To combat this new party, the Alliance put together a list of demands called the Subtreasury Plan. • The Subtreasury Plan called for the following: • The government to set up warehouses called subtreasuries. • The government to provide low interest loans to farmers. • The Alliance hoped the Democrats would support and adopt this plan.

  12. The Rise of Populism • During the midterm elections of 1890 Democrats and Republicans alike tried to incorporate strategies and give promises to pull farmers away from joining the Populist Party. • Republicans pushed for the Sherman Silver Purchase Act of 1890. • This act authorized the United States Treasury to purchase 4.5 million ounces of solver per month. • It put more money into circulation but did little to help farmers and their crop prices. • Democrats promised to support the Alliance program. • This worked getting few Populists candidates elected to office.

  13. The Rise of Populism • Once in office representatives began to fall through on promises supporting the Alliance program. • By 1892 many Southern farmers had reached the point where they were willing to break with the Democratic Party and join the People’s Party. • In July 1892, the People’s Party held their first convention in Omaha, Nebraska. • They nominated James B. Weaver for presidential candidate.

  14. The Rise of Populism • Weaver ran on the following platform: • Denouncing the government’s refusal to coin silver. • Called for a return to unlimited coinage of silver at a ratio that gave 16 ounces of silver the same value as 1 ounce of gold. • Federal ownership of the railroads • A graduated income tax • Tax paid yearly based on the income you bring in annually. The more you make the more you pay.

  15. The Rise of Populism • By the election of 1893 the Populist fell short of getting a candidate elected president. • Democratic candidate, Grover Cleveland, won 277 electoral votes. • The Republican candidate, Harrison, won 145 electoral votes. • The Populist candidate, Weaver, won 22 electoral votes.

  16. The Rise of Populism • After a resurgence during the 1896 election, Populism in the US began to decline. • Gold was found in Canada and Alaska ending the debate on currency • The US adopted a gold-based currency when Congress passed the Gold Standard Act in 1900.

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