Objectives: 1. Describe farmers’ economic complaints during the late 1800s. 2. List the key organizations formed to protest problems faced by farmers. 3. Understand Populism, the people behind the movement, and its legacy. Main Idea: By the late 1800s, declining incomes for American farmers created fertile ground for a farmer’s protest movement Farmer’s Problems First problem increased crop production causes crop prices to drop. Farmers took out loans to buy equipment and more land to produce more to offset prices. Second problem were tariffs (tax on imports) Third problem is Delation – drop in prices on goods. In 1873 the US switches from bimetal to the gold standard. Fourth problem railroads Uixed prices. Railroads charged more for short hauls and charged customers different rates. How Tariffs work Farmer’s Organize Improved communication and transportation will allow farmers to unite. The Grange was the Uirst farmer cooperative and will join forces with the Farmers’ Alliances to force political change. In 1887, the Interstate Commerce Act is signed that will regulate railroad prices. In 1890, the Sherman Antitrust Act to curb the power of monopolies but was not enforced at irst. The Populists The People’s Party (Populists) wanted radical social and economic changes. Increased circulation of money Unlimited minting of silver Progressive income tax – the more you make, the more you pay (citizens and businesses) Government control of communication and transportation systems Endorsed 8 hr workday and opposed strikebreakers (To attract urban and northern voters) 1892 Presiden-al Elec-on Democrat Cleveland 46% Popular Vote, 277 Electoral Votes Republican Harrison 43% Popular Vote, 145 Electoral Votes Populist Weaver 8.5% Popular Vote, 22 Electoral Votes Election of 1896 Candidates: Republican William McKinley (Ohio) Democrat William Jennings Bryan (Nebraska) In 1896, Populists supported William Jennings Bryan after his famous “Cross of Gold” speech “You shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold!” Cross of Gold 1896 Presidential Election Republican McKinley 51% Popular Vote, 271 Electoral Votes Democrat Bryan 46.7% Popular Vote, 176 Electoral Votes Populism’s Legacy There was a widening gap between the cities and farms America was transitioning from an agrarian (agricultural) society to an industrial society Goals of populism will be used by Progressivism in the early 1900s for urban issues. Today important for the progressive income tax and 8 hour workday. .