The 3 Economic Systems with Fruit Loops

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DN #3 “Rise and Fall of Populism”
Populist Party Platform 1892
The Populist (or People's) Party platform in 1892 incorporated a host of popular reform ideas, including the
following:
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Australian (or Secret) Ballot. Voting was still conducted publicly in many areas, potentially subjecting
voters to pressure or recrimination by employers and landlords. (This proposal was adopted almost
everywhere in the United States in the early 20th century.)
Popular Election of U.S. Senators. As provided in the Constitution (Article I, Section 3), senators were
selected by the state legislatures, not by popular vote. It was believed that business lobbies exerted
inordinate influence over the selection of these officials. (This plank would become part of the
Constitution in 1913 when Amendment XVII was ratified.)
Direct Democracy. The Populists urged the adoption of the initiative, referendum and recall as means to
give the people a more direct voice in government. (Some or all of these procedures became part of the
constitutions of many states during the early 20th century.)
Banking Reform. The Populists believed that much of their economic hardship had been caused by
bankers' unfair practices. They proposed to end the national banking system, a point of view not widely
held. (The Populists failed with this proposal and a Federal Reserve System was established by law in
1913.)
Government Ownership of the Railroads. Anger against the railroads for alleged price discrimination was
so intense that the Populists advocated for federal appropriation. (Opponents charged the Populists with
socialism and little public support existed for this plank. However, during the Theodore Roosevelt
administration, steps were taken toward reform of the railroads.)
Graduated Income Tax. The Populists viewed the graduated income tax as a means to pry loose a portion
of the tremendous wealth of the nation's most prosperous citizens. A "graduated" tax meant that the rate
of taxation would increase as one's income increased. (A step was made in this direction in the WilsonGorman Tariff of 1894 when a uniform tax was imposed, but that portion of the law was declared
unconstitutional by the Supreme Court the following year. Authority to impose such taxation was granted
to Congress under Amendment XVI in 1913.)
Free and Unlimited Coinage of Silver. The Populists in 1892 raised the silver issue, but not with the same
fervor that would emerge four years later. (The free silver crusade would die a natural death in the years
following 1896, as prosperity returned and the world's gold supply increased.)
Ideas started by the Populist Party listed above were important in history.
Ideas still around today
Ideas not used anymore today
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Which of the above do you think is most important today?____________________________
Why? _____________________________________________________________________________________
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Some more wonderfully, exciting practice test questions!!! Can you figure them out?
1. The farmers, eventually the Populist Party, is responsible for developing ideas for the first 2
amendments to the US Constitution since the Civil War. What ideas were they?
a. Banking Reform and Direct Democracy
b. Income Tax and Election of Senators
c. Banking Reform and Income Tax
d. Direct Election of Senators and Government Ownership of railroads
Populist Party Platform 1892
Secret Ballot
Direct Election of Senators (17th Amendment)
Direct Democracy
Income Tax (16th Amendment)
Banking Reform
Government ownership of Railroads
Free Coinage of Silver
2. Of all of the ideas the Populist Party pushed for in the late 1800’s the free coinage of silver was one
the most important to them. What is the best reason for this?
a. Farmers couldn’t find gold easily
b. The American people would rather use gold for jewelry
c. The US farmers didn’t have access to banks and couldn’t trade gol for US currency
d. The Populist Party wanted to go to the Gold Standard
of
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