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#34 Chapter 5 Section 3

#34 Chapter 5 Section 3. Farmers and the Populist Movement OBJECTIVE: Understand how farmers organized and fought to improve their conditions. I. Farmers Unite to Address Common Problems. Economic Distress Prices of crops falls dramatically due to lack of consumer demand.

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#34 Chapter 5 Section 3

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  1. #34 Chapter 5 Section 3 Farmers and the Populist Movement OBJECTIVE: Understand how farmers organized and fought to improve their conditions.

  2. I. Farmers Unite to Address Common Problems • Economic Distress • Prices of crops falls dramatically due to lack of consumer demand. • 1870s, debtors push government to put more money in circulation.

  3. Problems with the Railroads • Lack of competition lets railroads overcharge to transport grain. • Farms mortgaged to buy supplies; suppliers charge high interest.

  4. The Farmers’ Alliances • Farmers’ Alliances--- groups of farmers and sympathizers • Lectures on interest rates, government control of railroads & banks.

  5. II. The Rise and Fall of Populism • The Populist Party Platform • Populism --- movement of the people; Populist Party wants reforms: • Economic: increase money supply, graduated income tax, federal loans. • Political: Senate elected by popular vote; secret ballot; 8-hour day, and a single term for Presidents. • Democratic Party eventually adopts platform.

  6. The Panic of 1893 • Railroads expand faster than markets; some go bankrupt. • Government’s gold supply depleted. • Businesses, banks collapse • Panic becomes depression.

  7. Silver or Gold? • Bimetallism- a monetary system in which the government would give citizens either gold or silver in exchange for paper currency or checks. • Republicans: Northeast business owners, bankers = Gold Bugs (Gold Only) • Democrats: Southern, Western farmers, laborers = Silverites (Gold and Silver)

  8. 1896, Republicans commit to gold, select William McKinley. • Democrats favor bimetallism. • Democrats chose William Jennings Bryan. Populist endorse Bryan for President.

  9. The End of Populism • McKinley gets East, Industrial Midwest support; Bryan gets South, farm Midwest support. • William McKinley elected President. Populism collapses; leaves legacy: • The powerless can organize, have political impact. • Agenda of reforms enacted in 20th century.

  10. Closing Short Answer Question: • Explain the rise and fall of the Populist Party in 2-3 sentences

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