Download Day 3 slide show

Describe the causes and
effects of the financial
difficulties that plagued the
American farmer and trace
the rise and decline of
populism
Week 4 Day 3
Macro Concepts
Innovation-the method of advancing and improving the way of
doing something.
Conflict-problem or issue that is controversial and can cause
problems without compromise.
Micro Concepts
Inflation-rising prices of resources due to scarcity.
Deflation-falling prices of resources due to oversupply.
Supply and demand-amount and desire for a resource.
Populism-political movement led and controlled by citizens
[mostly late 1800s farmers] to change the government.
The Grange
 A united group of American farmers
who came together to fight for their
rights and defend their economic
interests.
 Farmers were being exploited by
railroads.
 Railroads were charging huge fees to
transport their crops and animals.
 The Grange wanted the U.S.
Government to step in regulate the
railroads.
Farmers’ Alliances
Several farmers groups came together in different regions:
Southern Alliance-Farmers from the Southern part of the U.S.
[tobacco, hogs and cotton]
Colored farmers-Mostly sharecroppers and tenant farmers who
grew cotton, tobacco and corn.
Money Policy
 To strengthen the U.S. economy several money policies were attempted.
 Greenbacks-During the U.S. Civil War and the lack of gold the Union [and
Confederacy] issued paper currency that promised to pay the face value
[$5, $10, $50, etc] “to the bearer on demand.” The government was asking
people to trust it.
 Gold Standard-This policy forced the U.S. government to issue only the
amount of paper money the U.S. had in gold.
 Bimetallism-This policy allowed the U.S. government to issue paper based
on gold and silver reserves.
Railroad Court Cases

Two landmark U.S. Supreme Court cases were influenced by the pressure exerted
on the U.S. Government by the Grange.

Wabash vs. Illinois in 1886 ruled that individual states could not interfere with
interstate commerce such as railroads. The Interstate Commerce Act was passed
soon after this decision in order to control trade between states.

Munn vs. Illinois in 1887 ruled that states could regulate businesses within
their borders.
Omaha Platform
 The set of ideas [platform] adopted by the
Populist party.
 The main objective of the party was for the U.S.
government to own all the railroads and
telegraphs.
William Jennings Bryan
In 1896 at the Democratic National Convention William Jennings
Bryan was a candidate for the presidential nomination.
He represented the state of Nebraska that had many farmers.
In a famous speech criticizing the gold standard Bryan believed that
bimetallism [gold and silver supported currency] would make more money
available for cash poor farmers.
Recording of speech
Text of speech
Image sources
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http://www.nebraskastudies.org/0600/media/0601_030101.jpg
http://www.rollingprairie.net/images/small%20rpfa%20local%20color%20banner.jpg
http://www.kwaves.com/us5.jpg
http://www.moneyteachers.org/images/McKinley%20and%20Gold.jpg
http://www.nps.gov/history/history/online_books/steamtown/shs5d1.jpg
http://clio.missouristate.edu/wrmiller/images/pcartoon/p17.gif
http://upload.wikimedia.org/wikipedia/commons/thumb/3/37/Cross_of_gold_speech_cartoon.jpg/170px
-Cross_of_gold_speech_cartoon.jpg