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Farmers and Populism

Farmers and Populism. Ch. 7 Sec. 3. Falling Prices and Rising Debt. Farm prices fell 15 cents a pound of cotton fell to 6 cents Costing more to produce crops than they could get by selling it Began to use corn for fuel More crops = falling prices Farmers went into debt.

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Farmers and Populism

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  1. Farmers and Populism Ch. 7 Sec. 3

  2. Falling Prices and Rising Debt • Farm prices fell • 15 cents a pound of cotton fell to 6 cents • Costing more to produce crops than they could get by selling it • Began to use corn for fuel • More crops = falling prices • Farmers went into debt

  3. Big Business Practices Also Hurt • Blamed RR and banks for farmers’ problems • Banks had high interest rates • Sharecroppers were dishonest “There are three great crops raised in Nebraska. One is the crop of corn, one a crop of fright rates, and one a crop of interest. One is produced by farmers who sweat and toil to farm the land. The other two are produced by men who sit in their offices and behind their bank counters and farm the farmers.” • Farmers’ Alliance, 1890

  4. The Grange Tries Several Strategies • 1867- Oliver H. Kelley forms the Grange • Provide education on farming techniques • Regulation of RR and grain elevator rates • Grange promoted the establishment of the Interstate Commerce Commission • Oversee interstate transportation

  5. Farmers’ Alliances Lead the Protest • Farmers’ Alliance became reform organizations • Asked gov to establish postal banks • Provide farmers with low interest loans • Hoped to push business costs down and crop prices up • Helped a little

  6. The Populist Party • Populist Party- “People’s Party” • Created through the spread of the Farmers’ Alliance • Wanted to build a new political party • Spread rapidly

  7. Populists State Their Goals • Fight low price- coinage of silver (free silver) • Fight high costs- gov ownership of RR • Encouraged women’s suffrage • Nominated James B. Weaver as presidential candidate

  8. Bryan and the Election of 1896 • William Jennings Bryan- Presidential Candidate • Advocated free silver • Great public speaker- “Cross of Gold” speech • Gained Democrats support • William McKinley- Republican nominee

  9. McKinley won • Bryan’s monetary reform, free silver, did not appeal to urban workers • Populism not popular in the north • Populist party began to fall apart and its supporters returned to the democratic party

  10. Populism’s Legacy • Supported: • Graduated income tax • Regulation of RR • Flexible monetary system • Allowed blacks and whites to find common political ground • Emphasized their association with ordinary people

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