Great West Part III
Cattle Drives &
Open Range
 thousands
of cattle were herded each year
by cowboys to railroad towns
 one cowboy to every 250-300 cattle
overgrazing
of the land
extended bad weather
invention of barbed wire
Large
tracts of land
devoted to one cash
crop
FARMERS PROBLEMS


weather problems
-falling prices
RAIL ROAD ABUSES
 -construction
graft
 -bribes
 -stock
watering
 -unfair pricing
 -increasing debt
• long haul
 -dependent upon
• short haul
railroads
 -use of rebates for
large
customers
 -need for cheaper money





A farmers’ alliance group that pressured law makers to
regulate business
also called the Patrons of Husbandry
-began as social group
-evolved into political group
-called for regulation of railroads
•

-ICC- Interstate Commerce Act
•

-“Granger Laws”- mid-western state laws that regulated
railroad abuses
-Federal law that regulates commerce
-currency reform
 took
the place of the Grange
 -strong mid-west support
 -reform based party
 -Omaha Platform, 1892
•
•
•
•
•
increase $ supply
graduated income tax
secret ballots
8 hour workday
Immigration control
 -Panic
•
of 1893
-nation enters a recession
 -many
people promote silver and gold
standard for currency
 -would create larger money supply
•
-”greenbacks” issued based on silver and
gold bullion reserves
 -Gold
standard only would limit money
supply as gold reserves were limited
Gold Bugs
Silverites
Who Were They
Bankers and
Businessmen
(Republicans)
Farmers and Laborers
(Democrats and
Populists)
What They
Wanted
Gold Standard, less
Money in Circulation
Bimetallism, More
money in Circulation
Why
Loans would be repaid
in stable money
Products would be sold
at higher prices.
Effects
Deflation: Prices fall,
value of money
increases, fewer people
have money
Inflation: Prices rise,
value of money
decreases, more people
have money
 Increase
the circulation of money
 Unlimited coining of silver
 Progressive Tax
 Government ownership of
communications and transport systems
 8 Hour Work day
 Populist
Candidate: William Jennings
Bryan
 Republican Candidate: William
McKinley
 Bryan gives “Cross of Gold” speech
• Emphasized that farmers would be crucified on
the gold standard
• Lost the election
 1896
election
 -William McKinley-Rep.
• Gold Standard
 -William
•
•
Jennings Bryan-Dem./Pop.
Free Silver
“Cross of Gold Speech”
 -McKinley
wins election
 -Populism dies