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Populism

Populism. People’s party founded in 1892. Late 1800s= Trouble for farmers. High debt Purchase of expensive equipment Crop prices down Competition overseas Little government help. Tariffs. Helped by eliminating foreign competition Hurt by: Higher prices for manufactured goods

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Populism

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  1. Populism People’s party founded in 1892

  2. Late 1800s= Trouble for farmers • High debt • Purchase of expensive equipment • Crop prices down • Competition overseas • Little government help

  3. Tariffs • Helped by eliminating foreign competition • Hurt by: • Higher prices for manufactured goods • Foreigners couldn’t purchase American crops

  4. Silver • Nation went to gold standard- upsets western silver miners and farmers • Sherman Silver Act of 1890- increases amount of silver used by government

  5. Value of money- Government controls money supply (Federal Reserve) • Inflation=more money available (higher prices charged/low interest rates) • Deflation=less money available (lower prices/higher interest rates) • Monetary policy-government plan for makeup of money supply

  6. End of Part I

  7. Farmers begin to organize • Grange- farmer organization; form cooperatives (allowed farmers to purchase large quantites of goods) • Pressure government to help farmers • Control railroads (unfair rates)

  8. Interstate Commerce Act of 1887 • Required railroad rates be in proportion to distance travelled • Outlawed discount rates • Interstate Commerce Commission- enforce transportation law

  9. Populist goals • Increased circulation of money • Mint silver • Progressive Income Tax- • Higher tax on wealthier • Government ownership of communication and transportation systems • 8 hour day (why??) • Oppose Pinkertons

  10. Nebraska, 1890

  11. (p 192)

  12. Elections • 1892-Weaver Populist candidate • 1896- Democrat William Jennings Bryan “Cross of Gold” speech • Grover Cleveland victory hurts populists

  13. Populists never achieve major political victories, but their impact on reform is far reaching!!!

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