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The Populist Movement

The Populist Movement . I.) Issues. A.) Money Issues : Problem : Civil War issue “ Greenbacks ” (Greenbacks worth less than hard money) Solution : Government takes them out of circulation! Outcome : 1. Farmers lose land and cant buy more! 2. Money becomes a national issue.

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The Populist Movement

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  1. The Populist Movement

  2. I.) Issues A.) Money Issues: • Problem: Civil War issue “Greenbacks” (Greenbacks worth less than hard money) • Solution: Government takes them out of circulation! • Outcome: 1. Farmers lose land and cant buy more! 2. Money becomes a national issue

  3. B. Issue with the Railroads Cause: 1. Lack of competition for railroads 2. Secret agreements = railroads control grain prices Effect: 1. Farmers pay high prices to transport goods 2. Farmers mortgage farms & pay high interest Outcome: 1. Calls for Reform!

  4. II.) Reform Movements • Granger Movement- organization of farmers to provide a social outlet & educational opportunities for farm families B. Farmers’ Alliance- organization of farmers with the goals to: - educate about lower interest rates - urge govt. control of banks & railroads

  5. Populism- political movement seeking that people have a greater say in govt. (advocated for farmers & workers) Goals: 1. Economic reform: -increase money supply -graduated income tax • -federal loan program 2. Government reform: -senators elected by popular vote -single terms for president & vice -secret ballot to end vote fraud 3. Social reform: -eight hour work day -restrictions on immigration

  6. III.) The Populist Party & Issues • Election of 1892- Populist candidate wins 10% of vote B. Panic of 1893- economic recession Cause: - Railroads go bankrupt - Stock Market prices fall - Trade of currency for gold - Silver price falls Effect: -15,000 businesses close - 500 banks collapse - wages, investments, prices fall - 3 million lost jobs

  7. Question: Gold or Silver? Vs. 1. Bimetallism- monetary system in which citizens get gold or silver in exchange for paper currency (Silverites) 2. Gold Standard- monetary system in which dollars are backed solely by gold (Gold Bugs)

  8. Vs. Vs. C. The Election of 1896- Outcome: -McKinley wins election - Populist Party collapses Legacy: - People could Organize & make Reforms - Big Business Rules!!! Republican candidate William McKinleyof Ohio (Gold Bug) Democratic candidate William Jennings Bryan (Sliverite) Populist candidate Thomas Watson

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