Populism
“What you farmers need to do is raise less corn and more
Hell!”
Mary Elizabeth Lease (1890) Populist Organizer
By the late 1800’s hardship had replaced
the prosperity that farm families enjoyed
after the Civil War.
American farmers...
3
Populism:
What?
•Political movement that tried to help out the
nation’s struggling farmers
4
Populism
Why?
1. Mechanization -
More machines =
more debt
2. New Farm Land
More land (on credit)
= more debt
Farmers we...
5
Populism
Why?
3. Specialization of
Crops - Farmers only
raise one crop (leads
to trouble if that crop
has problems)
4. D...
Price Indexes for
Consumer & Farm
Products: 1865-1913
7
Populism
Why?
5. Corporate Greed
Barbed wire trust,
Harvester Trust,
Fertilizer Trust, Banks,
and Railroads
Farmers were...
8
The Grange
•Farmer’s Union founded by Oliver Kelly (MN)
What?
•Cooperative movement - farmers pooled their
money to make...
Government Regulation
Interstate
Commerce
Commission
(1887)
In 1887, Congress passed the
Interstate Commerce Act that
setu...
10
Populist Party & Free Silver
Why?
•Populists believed that this would solve
nearly all of the farmer’s problems
•They w...
 Silverites or farmers wanted an increase in
the money supply, the amount of money in the
national economy. As a result, ...
Gold bugs were against this because with a
smaller money supply prices would drop and
each dollar buys more.
This would ...
13
A Populist President?
William Jennings Bryan
•Ran as a Populist
President in 1896 on
platform of Free Silver
“You shall...
14
The Wizard of Oz
•Written by Active Populist L.
Frank Baum
•Most things in the book
represent something
important to th...
Gold Triumphs Over Silver
McKinley
defeats
Bryan in the 1896
election.
1900  Gold Standard
Act
Confirmed the nation’s
...
16
The Wizard of Oz
Basic Symbols:
Ruby Slippers - In the book,
were actually
“Silver
Slippers”
(magic of Free
Silver)
Yel...
17
The Wizard of Oz
Characters:
Dorothy - Everyman
Scarecrow - Farmers
Tin Man -
Industrial
Workers
18
The Wizard of Oz
Characters:
Cowardly Lion - William
Jennings
Byran
(a pacifist)
Toto Temperance
Activists
(allies of t...
19
The Wizard of Oz
Places:
Emerald City - Washington
D.C. (in the
book, the color
came from
Green Glasses
that everyone
w...
of 19

Populism take 2

Published on: Mar 4, 2016
Published in: Economy & Finance      Business      
Source: www.slideshare.net


Transcripts - Populism take 2

  • 1. Populism “What you farmers need to do is raise less corn and more Hell!” Mary Elizabeth Lease (1890) Populist Organizer
  • 2. By the late 1800’s hardship had replaced the prosperity that farm families enjoyed after the Civil War. American farmers now faced hard times because of their own overproduction of crops. Many would blame the farmers for their own problems because they didn’t follow the economic belief of “supply and demand”
  • 3. 3 Populism: What? •Political movement that tried to help out the nation’s struggling farmers
  • 4. 4 Populism Why? 1. Mechanization - More machines = more debt 2. New Farm Land More land (on credit) = more debt Farmers were in trouble because of...
  • 5. 5 Populism Why? 3. Specialization of Crops - Farmers only raise one crop (leads to trouble if that crop has problems) 4. Disasters - floods, boll-weevil, grasshoppers Farmers were in trouble because of...
  • 6. Price Indexes for Consumer & Farm Products: 1865-1913
  • 7. 7 Populism Why? 5. Corporate Greed Barbed wire trust, Harvester Trust, Fertilizer Trust, Banks, and Railroads Farmers were in trouble because of... "The Iron Horse Which Eats Up The Farmers' Produce.” 1873
  • 8. 8 The Grange •Farmer’s Union founded by Oliver Kelly (MN) What? •Cooperative movement - farmers pooled their money to make shared purchases of machinery, supplies, insurance, etc. •Worked for pro-farmer laws •Ex. Interstate Commerce Act - regulated rates of railroads How?
  • 9. Government Regulation Interstate Commerce Commission (1887) In 1887, Congress passed the Interstate Commerce Act that setup the ICC. The federal government has the ability to regulate all aspects of interstate commerce. Rebates and drawbacks were illegal. Sherman Antitrust Act (1890) In 1890, Congress passed this act which prohibited monopolies or any business that prevented fair competition. With the rise of the Populist Movement: Big Business is regulated
  • 10. 10 Populist Party & Free Silver Why? •Populists believed that this would solve nearly all of the farmer’s problems •They wanted to use both silver and gold coins, thus increasing the amount of money in the country What? •All money would be worth less, a situation that was bad for creditors (big banks) and good for debtors (farmers)
  • 11.  Silverites or farmers wanted an increase in the money supply, the amount of money in the national economy. As a result, the value of every dollar drops, leading to a widespread rise in prices, or inflation. This trend would benefit people who borrow money (farmers), but it would not be good for money lenders (banks). A decrease in the money supply would cause deflation. Monetary policy, the federal government’s plan for the makeup and quantity of the nation’s money supply, thus emerged as a major political issue.
  • 12. Gold bugs were against this because with a smaller money supply prices would drop and each dollar buys more. This would take the US off the gold standard and hurt our credibility in the International trade markets who were on the gold standard. Good for people who lent money Before 1873 U.S. currency was on a bimetallic standard, consisting of gold and silver. Then Congress put the currency on a gold standard which decreased the money supply. “Gold bugs” (big lenders) were pleased.
  • 13. 13 A Populist President? William Jennings Bryan •Ran as a Populist President in 1896 on platform of Free Silver “You shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold” -- W.J. Bryan •Big business opposes his run, Republicans win the white house, & Populists fade away
  • 14. 14 The Wizard of Oz •Written by Active Populist L. Frank Baum •Most things in the book represent something important to the populist movement
  • 15. Gold Triumphs Over Silver McKinley defeats Bryan in the 1896 election. 1900  Gold Standard Act Confirmed the nation’s commitment to the gold standard.  A victory for the forces of conservatism.
  • 16. 16 The Wizard of Oz Basic Symbols: Ruby Slippers - In the book, were actually “Silver Slippers” (magic of Free Silver) Yellow Brick Road - “Gold” many dangers for regular people (like Dorothy)
  • 17. 17 The Wizard of Oz Characters: Dorothy - Everyman Scarecrow - Farmers Tin Man - Industrial Workers
  • 18. 18 The Wizard of Oz Characters: Cowardly Lion - William Jennings Byran (a pacifist) Toto Temperance Activists (allies of the Populists) Wizard - President of the United States
  • 19. 19 The Wizard of Oz Places: Emerald City - Washington D.C. (in the book, the color came from Green Glasses that everyone wore, a trick) Good Witches of North & South - Directions where Populists had friends (Midwest and South)

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