Price Indexes for Consumer & Farm Products: 1865-1913

2. Price Indexes for Consumer & Farm Products: 1865-1913

3. Populism • Populism is a movement which supports "the people" versus "the elites."

5. The Silver Issue • Metallic standard– dollars in the USA are backed by metal, typically gold or silver. • “Crime of 1873”Govt. stopped coining silver

6. The Silver Issue • Metallic standard – dollars in the USA are backed by metal, typically gold or silver. • “Crime of 1873”Govt. stopped coining silver • This put less money into circulation, helping big business and hurting “little guys”- farmers.

7. The Populist (Peoples’) Party • Founded by James B. Weaverand Tom Watson. • Omaha, NE Convention in July,1892. • Got almost 1 million popularvotes. • Several Congressional seatswon. James B. Weaver, Presidential Candidate &James G. Field, VP

8. Platform of Lunacy

9. The Grange • 1867--Farmers Organized, similar to labor unions. • Helped form cooperatives which bought goods in large quantities at lower prices. THE POPULISTS: Grassroots Movement Local and state level

10. Giftfor theGrangers: The FarmerPays for All!

11. Farmers’ Alliance • 1876- National Extension of “the Grange” • Gives Farmers Political Power • Ran candidates for office. • Controlled 8 state legislatures & had 47representatives in Congress during the 1890s. THE POPULISTS: Grassroots Movement People’s Movement Spreads

12. United We Stand, Divided We Fall • In 1889 both the Northern andSouthern Alliancesmerged into one—the Farmers’ Alliance.

13. Populists • 1891- Becomes a national movemnt • Farmers’ Alliances formed a new political party, The People’s Party or the Populists. • Supported by farmers, the West and parts of the South…. • Populists would run candidates in the 1892 and 1896 presidential elections. THE POPULISTS: Grassroots Movement

14. The Panic of 1893

15. Causes of the 1893 Panic • A. Several major corporations went bankrupt. • A few large RR Companies went bankrupt • Causes over 16,000 businesses to disappear. • Triggered a stock market crash. • People were nervous, took their $$ out of banks all at once (-a run on banks-)

16. Causes of the 1893 Panic • B. 500 Bank fail causing less credit available • C. By 1895, unemployment reached 3 million (19%).

17. Effects of the Panic of 1893 • The political crisis that allows the populists to gain national attention

18. Here Lies Prosperity

19. Tech-Bubble Dot-com bubble

20. Housing Bubble

21. THE POPULIST REVOLT • In 1893, Jacob Coxey, (leader of Coxey’s Army) of Massillon, Ohio • 20,000 unemployed men and women began a march to Washington, DC.

22. THE POPULIST REVOLT • Demands: • US Govt. public works programs • Railroads for the Public! • Jobs for the unemployed.

23. Coxey’s Army, 1894 • Jacob Coxey & his “Army of the Commonwealth of Christ.” • March on Washington  “hayseed socialists!”

24. THE POPULIST REVOLT • 600 protesters persisted through the length of the journey and on May 1, 1894. • "Coxey's Army" reached Washington and marched along Pennsylvania Avenue. • Before "General" Coxey could deliver a historic speech, however, he was arrested by District police - for walking on the grass.

25. Occupy Wall Street THE POPULIST REVOLT

26. William Jennings Bryan Prairie avenger, mountain lion, Bryan, Bryan, Bryan, Bryan, Gigantic troubadour, speaking like a siege gun, Smashing Plymouth Rock with his boulders from the West. • Revivalist style of oratory.

27. Bryant’s“Cross of Gold” Speech You shall not press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon across of gold!