• Explain problems farmers faced during the
late 1800s.
– Decreasing prices
– Railroad monopolies/price gouging
– Heavy debt
– Gold standard/deflation
– Weather/nature
• What things brought about the decrease in
the price of farm products?
– More farmers (over supply)
– Increased efficiency (over supply)
• Education
• New inventions
– Deflation (dollar worth more)
• How did the Grange help farmers improve
their living and working conditions?
– Provide social functions
– Provide education
– Provide economic help (pool resources, cash
exchanges)
• What did the Populist party platform call for?
– In relation to farmers…
• Bimetallism
• Regulation of railroads
– For everyone else…
• Direct election of Senators
• Graduated income tax
• 8 hour work day
• How does bimetallism help farmers/those in
debt? How does it hurt businessmen?
– Bimetallism: Causes inflation, more money,
decreases value of dollar, helps pay debt easier
– Businessmen hurt because value of cash is
lowered, costs for goods higher
• What were the consequences of the Panic of
1893?
– Economy collapses
– Thousands of businesses go bankrupt
– Unemployment skyrockets
– Populist Party gains attention and momentum
• What is the difference between a “gold bug”
and a “silverite”?
– “gold bug”: wants a gold standard (no silver
coinage)
– “silverite”: want both gold and silver coinage
• How did the election of 1896 bring an end to
populism?
– Populists partially joined Democratic party
• Same candidate (William Jennings Bryan)
– Democratic party loses