The West - Populism
Essential Question
- How does war have the ability to change society
Farmers Face Tough Economic Times
- Farmers in the west trapped in economic cycle due to falling crop prices.
- During Civil War - Greenbacks were issued and could not be exchanged for silver or gold after the War
- This increased the value of money already in circulation, but left farmers receiving less money for their crops
- Farmers also hit particularly hard by private ownership of the Railroad
The Farmers Alliances
- 1867 - Oliver Hudson Kelley starts the Patrons of Husbandry (aka The Grange).
- Original purpose was to provide a social outlet and an education forum for isolated farm families
- 1870s - The Grange’s battle shifts towards fighting the railroad and high shipping costs
- Taught members how to organize, set up cooperatives, and sponsor state legislation to regulate railroads
- Membership quickly grew to 4 million farmers, mostly in the South and West
- Black farmers formed their own alliances because they were not permitted to participate in the southern farmers alliance The Populist Party
- 1892 - the populist party is founded to represent the alliance movement of the south and west
- Demanded reforms to lift debt from farmers and other workers and to give people a greater voice in government.
- Increase in money supply through Bimetalism - coining both gold and silver
- 8 hour workday, immigration restrictions, direct election of senators, secret ballot, and a graduated income tax.
- Elections in 1892 - 5 senators, 3 governors, and 1500 state legislators.
Panic of 1893
- February 1893 - multiple railroads go bankrupt due to the thin supply of gold within the federal government.
- By the end of 1892 - 15000 businesses and banks collapsed due to money shortage
- Silverites vs Goldbugs - Bimetallism vs Gold Standard
- Silverites - Favor Bimetallism (increasing money supply) - Southern and Western Democrats and Populists
- Gold Bugs - Favor the Gold Standard ( maintaining money supply ) - Northern Republicans and business owners
1896 Presidential Election & Bryan’s “Cross of Gold”
- Republicans Nominate William McKinley, committed to the Gold Standard
- Democrats Nominate Nebraska Congressman William Jennings Bryan.
- Cross of Gold Speech given at the National Convention pleased the populists and caused them to support the democratic party in the election
- McKinley wins the Presidential Election due to a small split in the democratic party.
- Populist Party Legacy
- the Downtrodden can organize and have political impact
- Agenda of Reform