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FARMING DOMINATED THE LIVES OF MOST AMERICANS IN THE SOUTH AND WEST DURING TIMES OF DEPRESSION (1873 & 1893) FARMERS SUFFERED A GREAT DEAL • FAILURE OF RAILROADS – CONSOLIDATION BY WEALTHY BUSINESS OWNERS • COMPETITION OF OTHER FARMERS LOWER PRICES • BANKS FAILED – RECALLED LOANS FARMERS CALL FOR THE GOVERNMENT TO STABILIZE THE ECONOMY •REDUCE TARIFFS -PRICES OF FARM GOODS WAS HIGH -WORLD MARKET FOR AMERICAN GOODS WAS LOW •MONETARY POLICY (MONEY SUPPLY) -INCREASED MONEY SUPPLY = INFLATION -DECREASED MONEY SUPPLY = DEFLATION -FARMERS CALLED FOR INFLATION OF THE ECONOMY oCHEAPER LOANS oHIGH PRICES FOR THEIR GOODS MONETARY POLICY GOLD STANDARD (GOLD BUGS) • REDUCED AMOUNT OF MONEY IN CIRCULATION SILVER STANDARD (SILVERITES) • INCREASED MONEY IN CIRCULATION - BLAND-ALLISON ACT 1878 o CREATE MORE SILVER MONEY - SHERMAN SILVER PURCHASE ACT (1890) o INCREASED LEVEL OF SILVER PURCHASED BY GOVERNMENT FARMERS PROTEST GROUPS THE GRANGE •FORMING OF COOPERATIVES •PRESSURED STATE LEGISLATURES TO REGULATE BUSINESS FARMERS’ ALLIANCES • UNITING OF FARMERS IN DIFFERENT AREAS OF UNITED STATES - CALLED FOR: oFEDERAL REGULATION OF RAILROADS oINFLATION oANTITRUST LAWS oINCREASED FARM CREDIT GOVERNMENT ACTION INTERSTATE COMMERCE ACT - GOVERNMENT COULD REGULATE RAILROADS (SET PRICE LIMITS) SHERMAN ANTITRUST ACT - ENABLED GOVERNMENT TO BREAK UP CERTAIN TRUSTS - PROVED VERY INEFFECTIVE - USED AT TIMES TO BREAK UP LABOR UNIONS FORMATION OF POPULISTS (PEOPLE’S PARTY) GROUP FORMED OUT OF THE CONSOLIDATION OF MANY FARMERS’ ALLIANCES GOALS: • INCREASING CIRCULATION OF MONEY • UNLIMITED MINTING OF SILVER • PROGRESSIVE INCOME TAX • GOVERNMENT OWNERSHIP OF COMMUNICATIONS AND RAILROADS • EIGHT –HOUR WORK DAY WILLIAM JENNINGS BRYAN o STRONG SUPPORTER OF SILVER o GAVE FAMOUS “CROSS OF GOLD” SPEECH o NOMINATED FOR PRESIDENT BY THE DEMOCRATIC PARTY THREE TIMES POLITICAL ATMOSPHERE OF GILDED AGE • ERA OF LITTLE SUBSTANCE • ERA OF “FORGETTABLE” PRESIDENTS • TIME OF BOTH URBAN AND RURAL PROBLEMS CLOSE ELECTIONS BETWEEN 1876-1892 • REPUBLICANS AND DEMOCRATS UNWILLING TO TAKE STRONG STANCES ON MAJOR ISSUES • CONGRESS VERY DIVIDED (FEW LEGISLATIONS PASSED) CORRUPTION IN THE GOVERNMENT * CREDIT MOBILIER SCANDAL - OUTSIDE CONTRACTOR – CHARGED LARGE SUMS FOR WORK DONE - GOVERNMENT OFFICIALS TOOK BRIBES REPUBLICANS -CIVIL WAR VETERANS/AFRICAN AMERICANS/BIG BUSINESS/ MIDDLE CLASS/PROTESTANT DEMOCRATS -SOLID SOUTH/POLITICAL MACHINES/IMMIGRANTS/ URBAN WORKERS RUTHERFORD B. HAYES - ENDED RECONSTRUCTION (REMOVAL OF TROOPS) - SOME CALL HIS ELECTION A “CORRUPT BARGAIN” JAMES GARFIELD • SUPPORTED USE OF SPOILS SYSTEM • REPUBLICAN PARTY DIVIDED INTO FACTIONS STALWARTS AND HALF-BREEDS •ASSASSINATED (JULY 2, 1881) BY CHARLES GUITEAU (STALWART) - GUITEAU UPSET OVER NOT RECEIVING GOVERNMENT JOB - SHOWED PROBLEM WITH PARTY PATRONAGE - ASSASSINATION LEADS TO PUBLIC CRITICISM OF SPOILS SYSTEM CHESTER A. ARTHUR • VICE-PRESIDENT UNDER GARFIELD • PASSAGE OF PENDLETON CIVIL SERVICE ACT - TESTED ALL GOVERNMENT APPLICANTS - SET STANDARDS FOR GOVERNMENT JOBS - PRESIDENTS COULD NOT FIRE OFFICIALS FOR POLITICAL REASONS GROVER CLEVELAND • FIRST DEMOCRAT TO WIN ELECTION SINCE 1856 (JAMES BUCHANAN) • FIRST AND ONLY PRESIDENT TO BE ELECTED TO TWO NON-CONSECUTIVE TERMS •SUPPORTED THE LOWERING OF TARIFFS AND GOVERNMENT REGULATION OF RAILROADS - PASSAGE OF INTERSTATE COMMERCE ACT 1887 (LIMITED SUCCESS) • PASSAGE OF DAWES SERVILITY ACT • SERVED SECOND TERM DURING PANIC OF 1893 - FAILED TO WIN SUPPORT OF WORKING CLASS AND FARMERS - UNEMPLOYED MARCHED ON WASHINGTON TO PROTEST (COXEY’S ARMY) - REPEALED SHERMAN SILVER PURCHASE ACT - SENT TROOPS TO CHICAGO TO END PULLMAN STRIKE BENJAMIN HARRISON •WINS ELECTION OF 1888 WITH HELP FROM BIG BUSINESS •FIRST “BILLION DOLLAR” CONGRESS •ACTS PASSED: -MCKINLEY TARIFF OF 1890 -CIVIL WAR VETERANS PENSIONS ACT -SHERMAN ANTI-TRUST ACT -SHERMAN SILVER PURCHASE ACT WILLIAM MCKINLEY •DEMOCRATS DIVIDED IN WHO TO NOMINATE FOR ELECTION OF 1896 -PRO-GOLD – GROVER CLEVELAND -PRO-SILVER – WILLIAM JENNINGS BRYAN •BRYAN NOMINATED AND RUNS AGAINST MCKINLEY -MCKINLEY TAKES ADVANTAGE OF BIG BUSINESS MONEY TO CAMPAIGN