In the 1890s, several smaller populist political parties formed in response to economic hardship faced by farmers. These parties opposed big business like railroads and banks and advocated for policies to help farmers. By 1892, some of these parties united to form the People's Party which won some states in the 1892 election. An economic depression in 1893 exacerbated issues. In response, William Jennings Bryan campaigned in 1896 on a populist platform, though he ultimately lost the election to William McKinley who supported pro-business policies.