9/10/15 Essential Questions: Us. 12 – What were the characteristics and impact of the Granger Movement and Populism? US. 5 – What was the currency controversy of the late 1800s? Populism A movement, primarily of farmers, in the late 1800s that demanded government aid for the common farmer and worker. “What you farmers need to do is to raise less corn and more hell! We want the accursed foreclosure system wiped out! We will stand by our homes and stay by our firesides by force if necessary, and we will not pay our debts to the loanshark companies until the Government pays its debts to us!” - Mary Elizabeth Lease 1. Regulate Railroads: This was the Populist’s BIGGEST demand so railroads couldn’t take advantage of farmers. 2. More Money in Circulation: Increase the nation’s money supply = Bimetallism 3. An 8-hour workday 4. Income Tax: “Don’t Tax land. Tax Income!” Solution to Debt Problem 5. More money in circulation. How? If on the gold standard (def.)each dollar printed is back by gold~ Discover more gold or Use silver to back money Solution to Debt Problem 5. More money in circulation. How? If on the gold standard (def.)each dollar printed is back by gold~ Discover more gold or Use silver to back money. Gold v. Silver Who They Were? Bankers/Businessmen/ Wealthy/Republicans Farmers/Laborers/Populists What they wanted? Gold Standard – money to be backed by gold (Less money in circulation) 1896 Presidential Supporters? William McKinleyRepublican Bimetallism – money to be backed by gold and silver (More money in circulation to repay loans) William Jennings Bryan – a Democrat supported by the Populists Why? Loans would be repaid in Products would be sold gold at higher prices Effects? Deflation - Prices fall - Value of $ increases - Fewer people have $ Inflation - Prices rise - Value of $ decreases - More people have $ Farmers want to add more money into circulation More money produces inflation Farmers want the government to coin more silver – “free coinage” With inflation, prices are higher, and it will be easier for farmers to pay back loans The cartoon is trying to convey the bias that the United States government is showing in favor of the foreign investors and the wealthy, who are in favor of hard money, at the expense of the average citizen. This cartoon is important because it is an accurate and colorful representation of the continued and growing outcry of the lower class for soft money and the party’s increased political prowess and societal involvement. “Having behind us the producing masses of this nation and the world, supported by the commercial interests, the laboring interests, and the toilers everywhere, we will answer their demand for a gold standard by saying to them: You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.” - William Jennings Bryan Us. 12 – What were the characteristics and impact of the Granger Movement and Populism? Populist Party NOTES Goes on RIGHT SIDE!!!!! US. 5 – What was the currency controversy of the late 1800s? Gold vs. Silverites Chart Goes on RIGHT SIDE. What is the message of this cartoon? What aspects of the Populist Party’s platform might appeal to non-farmers?