Why had farming become unprofitable during this period? Falling prices (surplus of crops) High transportation costs (power of railroads) Scarcity of good land (poor weather conditions-drought) High rates of interests Why did farmers support the free coinage of silver? To bring about inflation “cheap money” They believed that there would be more money in the economic system and that they would get more of it. Farmers were against the gold standard—believed it favored industrialists Farmers & the Populist MovementIn the late 1800’s Farmers faced increasing costs & decreasing crop prices.
What economic reforms did the Peoples party call for? Increased money supply Graduated income tax Federal loans to farmers What political reforms did the party call for? Election of US senators by popular vote Single terms for president 8 hour work day Secret ballot (end fraud) Immigration restrictions Farmers & the Populist MovementIn 1892 farmers and organizations (the Grange found support in Populism and the People’s party.
What factions did Bryan and the Populists see as opposing forces in the election of 1896? City dwellers v farmers Business/bankers v farmers/laborers Industrialized North East v farming South & West Gold bugs v silverites In what ways did the results of the 1896 election confirm this viewpoint? McKinley a conservative Republican won with the votes of the Industrialized East & Mid West Bryan lost carrying the South & West Farmers & the Populist MovementIn 1896 the Populists supported William Jennings Bryan for President
Farmers & the Populist Movement • The Populist party never gained control of the White House, what reforms did it achieve? • Direct of US senators • Graduated income tax • Eventually other reforms (rail road regulation & 8 hour work day will be accomplished)