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Populism (6.5)

Populism (6.5)

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Populism (6.5)

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  1. 2f. Investigate causes and effects of significant events in United States history. 3c. Evaluate the historical development and impact of political thought, theory and actions. Populism (6.5)

  2. 1) drop in farm prices due to Deflation • 2) Producing more supply, but demand stayed the same (result: lower prices) • 3) High tariffs increased cost of manufactured goods farmers needed to raise crops and sell crops overseas • 4) Farmers felt victimized by banks and shipping rates charged by RRs The Plight of Farmers

  3. Populism: Social movement to increase farmers’ political power and to pass legislation that was in their best interest The Movement

  4. Org. est. to help farmers w/ economic problems • Actions taken: • 1) pressured State legislatures to regulate RRs and warehouse rates • 2) est. cooperatives: marketing org. that try to increase prices & lower costs for their members 1st Attempted Fix: The Grange

  5. 1) Political and econ power of RRs and E. businesses discriminated against them and refused to do business • 2) Co-ops not large enough to have an effect on prices • 3) Grange couldn’t get much public support (suspicious of paper money and its ability to hold value) Grange Failed- Why?

  6. Tried to est. exchanges: very large co-ops to force up prices and offer cheaper loans to farmers • Failed-why?: • 1) gave too many loans that were never repaid (bankrupt) • 2) faced discrimination from RR companies, larger banks, and wholesalers • 3) like Grange, too small to affect world food prices 2nd Attempt: The Farmer’s Alliance

  7. 4 goals developed @ Omaha Convention: 1) Called for unlimited coinage of silver 2) Graduated Income Tax: higher tax on those who made more money 3) Stronger Nat’l gov’t that would defend public against private greed (i.e. big business) 4) Labor reform: 8-hr work day, limits on immigration, denounced strike-breaking 3rd Attempt to fix: Populist Party

  8. Made Coinage of silver primary issue in election of 1896 (viewed as fix for deflation + help for farmers) • Did not have political impact hoped-why? • 1) Dem. Party also supported silver issue • 2) Issue of silver not that important outside of rural areas and West • Result: Populist Party declines and disappears Populists & The Election of 1896

  9. 1) Caused Republican & Democratic Parties to re-focus on issues important to American citizens (1st time since CW) 2) One of only two instances in U.S. History in which a 3rd Party posed a legitimate challenge to the Trad. 2-party system (Democrats & Republicans) Significance of Populism in US HIstory