Initial Capital = $1000

Cost of Farm = $3100 (requires $1000 down)

Cost of Threshing Machine = $500

Cost of Plow = $500

Cost of Sickle Cutter = $500

• All loans financed on a 10-year note.

Farming and the Market

Annual Expense:

$210/year

$50/year

$50/year

$50/year

Farming and the Market

Year 1: Stable market prices =

Year 2: Stable market prices =

Year 3: Deflationary market prices (5%) =

Year 4: Deflationary market prices (5%) =

Year 5: Deflationary market prices (5%) =

Year 6: Deflationary market prices (5%) =

Year 7: Deflationary market prices (5%) =

$400 income

$400 income

$380 income

$360 income

$340 income

$320 income

$300 income

How do you make your income? What if things change?

• Deflationary conditions generally hurt those who sell their products on the open market (like farmers).

Annual Expenses:

Mortgage = $210 Plow = $50 Thresher = $50 Cutter = $50

The Wonderful Wizard of Oz

Published in 1900 by L. Frank Baum

The Wonderful Wizard of Oz—Just a children’s story?

• Populists opposed the wealthy interests who lived where?

• They opposed the wealthy interests in the East, who the Populists felt unfairly controlled the people.

• What did the Populists think of these wealthy and powerful Eastern interests?

• They thought that they were of the worst sort of folks

• If they could, the Populists might have even dropped a house on those folks from the East. . .

Inhabitants of Oz • Who was always falling down, trying to find a brain, and trying to get organized?

• The Populists sprang from Farmer’s Alliances—folks who knew a thing or two about straw

• Who was a heartless automaton, stiff and frozen? • Populists sought support from industrial workers, who they saw as being taken advantage of by Eastern industrialists. They thought that industrial workers had just become “part of the machine.”

The Land of Oz •  In the story, from where did the good forces come?

–  Populists were especially strong in the North and the South, where all good folks live (see page 281 in your text)

•  What is the dangerous trail that Dorothy and pals had to follow? –  Populists opposed the “gold standard”—they saw it putting the country

on a road fraught with disaster

The Land of Oz

•  Who does Dorothy seek out for help? –  Does he help? –  The Populists thought that the person in charge ought to be

able to help out. But ultimately, he didn’t…

President Grover Cleveland

The Land of Oz

•  If the leader couldn’t help, then someone else had to be the roaring voice of the people. . .

William Jennings Bryan

The Land of Oz (oz.?) •  By the end of the story, is Dorothy rescued by following the

Yellow Brick Road? •  How is she finally saved from this Land of Oz (or oz.)?

SILVER Slippers!!! (in the book)