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Agricultural Problems and Gilded Age Politics Problems of the American Farmer During the Gilded Age • Overproduction • Tariff Policy • Monetary Policy – – – – Hard Money vs. Soft Money Gold vs. Silver “Greenbacks” Inflation vs. Deflation/Money Supply • Tax and Bank Policies • Differential Freight Rates • Tenant Farming and ShareCropping • Loss of Status and Power The Government • Laissez-Faire: The Government was unresponsive to agrarian needs. The Agrarian Reaction • The Grange Self-Help Cooperatives (Patrons of Husbandry) • The Farmers’ Alliances • The Populist Party Populist Party Platform (1892) • Australian (or Secret) Ballot • Popular Election of U.S. Senators – 17th Amendment • Direct Democracy – Initiative – Referendum – recall • Banking Reform – Federal Reserve System (1913) • Government Ownership of the Railroads • Graduated Income Tax – 16th Amendment • Free and Unlimited Coinage of Silver – Increase money supply=Inflation