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Populism

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  • 1. The Rise & Fall oF PoPulism AP US History
  • 2. Rise of the Populists• The Grange (founded 1867)• Farm Problems: Natural Disasters; High cost of manufactured goods (tariff issue); High cost of shipping; Debts; Agricultural overproduction• Achievements: Cooperatives & Granger laws
  • 3. The Grange & The CourtsMunn v. Illinois (1877)– upheld Granger LawsWabash v. Illinois (1886)– ruled against farmers (issue interstate commerce) Interstate Commerce Act– “Just and reasonable charges”– Published rates required–Interstate Commerce Commission established
  • 4. The Populists Emerge• Issues – problems of laissez-faire capitalism – Economic depression• Unity of poor people • Coxey’s Army (1894) – demanded $ for public works
  • 5. The Populist Platform (1892)• Graduated income tax• National ownership of the railroads, telegraph, and telephone systems• A “sub-treasury plan” – allow farmers to take surplus off the market to keep agricultural prices high. Farmers could then take out loans against these surplus crops• The unlimited coinage of silver and increase the money supply• The initiative and referendum• The popular election of the US senators• Outlaw use of Pinkerton men in strikes• Eight hour work day• Limits on “undesirable” immigration
  • 6. The Presidential Election of 1892
  • 7. The Dollar: Gold or Silver? Remember: Debtors like an inflationary currency ($ backed by silver) Creditors like a deflationary currency ($ backed by gold)1873 The Coinage Act demonetized silver “The Crime of ’73” – miners & farmers1878 Bland-Allison Act Bimetallism Coinage of silver at ratio of 16:1 to gold1890 Sherman Silver Purchase Act Silver legal tender redeemable for gold1900 Gold Standard Act
  • 8. Election of 1896 William William J. Bryan McKinley Democrat/ Republican Populist “Gold Bug” “Silverite”Famous Quote from the Campaign:“….we will answer their demand for agold standard by saying to them: Youshall not press down upon the brow oflabor this crown of thorns, you shall notcrucify mankind upon a cross of gold….” William Jennings Bryan
  • 9. The Presidential Election of 1896

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