NCSCOS Goal 4

Page 30The Parable of the Wizard of Oz

What does this movie have to do with American

farmers in the late 1800s?

Keep paying attention and see if

you can figure it out…

Farmer’s Problems

-weather problems• Drought and storms cause

crops to fail – lose money

-falling prices

-increasing debt• Farmers cannot pay for

loans; banks foreclosing

-dependent upon railroads• Railroads over-charging

farmers; short routes and storage

-need for cheaper money

deflation and inflation

“What you farmers need to do is raise less corn

and more hell!”

~Mary Elizabeth Lease

Railroad Abuses

-construction graft

• Railroads making secret deals

-bribes

• RR agents take money to allow for cheap shipment

-stock watering

• Livestock drink water to make weight increase

-unfair pricing

long haul: cheaper

short haul: more expensive

-use of rebates for large customers (get money back)

“There are three great crops raised in Nebraska. One is a crop of corn, one is

a crop of freight rates, and one is a crop of interest. One is produced by farmers who sweat and toil the land. The other two are produced by men who sit in their offices…and farm the

farmers.” ~ Nebraska Newspaper Editorial

The Grange

-began as the Patrons of Husbandry

-began as social group that evolved into political group

-called for: regulation of railroads, increase money supply; single term for president and vice-president; graduated income tax; secret vote

-“Granger Laws”- mid-western state laws that regulated railroad abuses

- Granger laws ruled unconstitutional in Wabash v. Illinois, The case was appealed to the United States Supreme Court in 1887.  The Court  declared the Illinois state law unconstitutional  arguing that the Constitution’s Commerce Clause states that only the federal government had the authority to regulate interstate trade.  -

ICC- Interstate Commerce Act

Federal law regulates commerce

“We believe that the time has come when the railroad corporations will either own the people or the people must own the

railroads.” ~Omaha Platform, 1892

Populism – People’s Party

-took the place of the Grange

• Influenced Democrats

-strong mid-west support

-reform based party

• Want changes

-Omaha Platform, 1892

increase $ supply: gold AND silver money

income tax (graduated)

secret ballots

8 hour workday

Immigration control

“That we oppose any subsidy or national aid to

any private corporation for any purpose.” ~Omaha

Platform, 1892

What Exactly Do The Populists Want?

1. Coin Gold and Silver Increase the Money Supply

2. Increase the Money Supply Inflation (Prices Go Up)

3. Inflation Borrowers (Farmers) Are Better Off; Lenders (Banks) are Worse Off

Why would some people question if bimetallism would work?

Here Are Examples from Today:

INFLATION:• I have one candy bar. What are you willing to pay me for it?• I have many candy bars. What are you willing to pay for

one?• This is like the value of your dollar. The more dollars you

have, the

less they are worth.

What has happened to

prices since the 1890s? Why?

Free Silver Crusade

-Panic of 1893• Farmers in deep debt

-nation enters a recession

-many promote silver and gold standard for currency (bimetallism)

-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: everyone would have less money, but each dollar worth more

Populists promoted “free silver,” in which money would be backed by gold and silver rather than gold alone. This would increase the money supply and

lead to inflation, the rise of prices, which would allow them to charge

more for their farm products. However, each dollar would be worth

less than if backed by gold alone.

End of the Populists

-1896 election

-William McKinley-Rep.

Gold Standard

• Using only gold to back all money (worth more)

-William Jennings Bryan-Dem./Pop.

Free Silver/bimetallism

“Cross of Gold Speech”

-McKinley wins election

• People fear inflation and not being able to afford goods and services

-Populism dies

William Jennings Bryan delivering the “Cross of Gold” speech in Omaha

“We reply that the great cities rest upon our broad and fertile prairies.

Burn down your cities and leave our farms, and your cities will spring up again as if by magic;

destroy our farms and the grass will grow in the streets of every

city in the country…”

“Having behind us the producing mass of this nation…we 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 man upon a cross of

Gold.”

William Jennings Bryan, Democratic Convention Speech,

1896

What distinction do you notice in the votes cast in 1896? Which sections of the country voted for which party?

William Jennings Bryan standing outside the White House after losing the Presidential election to William McKinley. Although he won many votes, Populism

eventually dies out.

Symbolism of the Wizard of Oz

Dorothy: America

Tornado: Industry

Land of Oz: Gold

Wicked Witch of East: Banks

Wicked Witch of West: Railroad

Munchkins: Little People in America

Yellow Brick Road: Gold

Scarecrow: Farmers

Tin Man: Industrial workers

Lion: William Jennings Bryan

Winged Monkeys: Plains Indians

Emerald City: Washington, DC

Wizard of Oz: William McKinley

Slippers: Free Silver