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Day 7: Farmers and Populists 1. How did the platform and leaders of the Populist Party influence the presidential election of 1896 and early 20th Century American politics? 2. How did the collapse of the railroad industry factor into the Panics of 1873 and 1893? 3. How did the Panics of 1873 and 1893 impact the political and social development of the United States, such as the Grange movement? 4. Why did communities in the South and West develop agrarian political movements? Panic of 1873: first global depression Affected Europe and N. America Banks put $ into RR’s, RR company shuts down, leads to financial crisis Panic of 1893: similar to P of 1873 Put too much stock in RR’s, shaky financing, overbuilding Results in bank failures, depression in jobs/prices Potentially the worst depression in US history Populist Party-organized in 1891 out of meetings from Farmer’s Alliances. The Omaha Platform: Money-graduated income tax & better federal loan program Transportation/Communication-Government ownership of RR, telegraph & telephone. Government-US Senators elected by popular vote, use of initiative, recall, and referendum. The Populists ran James B. Weaver of Iowa for President in 1892. Became a struggle between economic interests and Gold vs. Silver. Greenbacks were paper money issued that fluctuated wildly because they were not supported by anything. William McKinley (Rep)-favored the Gold Standard Gold standard: value of money defined by gold (used until 1930’s) Bimetallism: allows both silver and gold to be exchanged for legal tender (money) at a fixed ratio between the two metals Election of 1896 William Jennings Bryan (Dem)-great speaker who favored bimetallism. He gave the famous “Cross of Gold” speech. He was actually the nominee of the Democrats and the Populists. The Populists nominated a different VP than the Democrats. The “Cross of Gold” Speech was given at the Democratic Convention in 1896. Election of 1896 Results: McKinley defeated Bryan in 1896 and 1900. The Gold Standard Act was passed in 1900. The Populist Party was absorbed by the Democrats. Wizard of Oz Clip L. Frank Baum: monetary reform symbolism: 1. Dorothy: every man and woman, Populist character from Kansas 2. 3. 4. 5. 6. 7. 8. 9. 10. (home of the populists) Scarecrow: farmers, ag. Workers, ignorant of city things but honest. Strong supporter of Dorothy (populism) Tin Man: Industrial workers, dehumanized by machinery, in need of oil (liquidity/money) to work, otherwise unemployed (idle of a year) without oil Cowardly lion: William Jennings Bryan, populist presidential candidate in 1900 (When Oz was written) Ruby slippers: (silver slippers in the book), promoting bimetallism Kansas: a Populist stronghold Cyclone: Free silver movement Yellow brick Rd.: the gold way, gold standard Emerald City: political center aka Washington D.D. Glinda the Good: the US South, supported Bryan and reform (Eas and West/bad witches supported McKinley) Read the Case State power to regulate businesses 1 of 6 cases in “Granger cases” Why is this important for the Populists? 1887, Created the Interstate Commerce Commission First true federal regulatory agency Shipping rates had to be “reasonable and just” Rates had to be published Secret rebates were outlawed Price discrimination against small markets made illegal Great, but lacked $ and resources to accomplish goal! Create a pamphlet or brochure advertising populist ideals, candidates, reaching out to farmers in the Great Plains, etc. List reasons why populism is the best option for some Americans List ways to participate in the Populist Party Include 2-3 illustrations to grab attention