Populism Populism is a movement which supports "the people" versus "the elites."

Populism

• Populism is a movement which supports "the people" versus "the elites."

Platform Platform of Lunacyof LunacyPlatform Platform of Lunacyof Lunacy

Causes Effects

New inventions & efficient techniques introduced

Prices of farm products decline

Lack of competition among railroads

Farmers’ earnings decrease, paying monopoly prices

Machinery is needed; shipping costs higher

Farmers are unable to pay back loans

Money is in short supply

Banks lend less money to farmers. Need more in circulation (silver!)

Price Indexes for Consumer Price Indexes for Consumer & Farm Products: 1865-& Farm Products: 1865-

19131913

Price Indexes for Consumer Price Indexes for Consumer & Farm Products: 1865-& Farm Products: 1865-

19131913

The Silver IssueThe Silver IssueThe Silver IssueThe Silver Issue Metallic standard – dollars in the USA are backed

by metal, typically gold or silver.

“Crime of 1873” Govt. stopped coining silver

This put less money into circulation, helping big business and hurting “little guys”- farmers.

Legal Gold price of silveror how many tons of silver

you need to buy one ton of gold ?16 :1

371 grains of pure silver

<= ONE DOLLAR IS DEFINED AS =>

23.5 grains of pure

gold

http://www.micheloud.com/FXM/MH/Glossary.htm#Monetary%20Standard

•1867--Farmers Organized, similar to labor unions.

•Helped form cooperatives which bought goods in large quantities at lower prices.

•Succeeded in lobbying for Succeeded in lobbying for “Granger Laws“Granger Laws.”.”

The Grange

Local and state level

Giftfor the

Grangers:

The Farmer

Pays for All!

Giftfor the

Grangers:

The Farmer

Pays for All!

•1876- National Extension of “the Grange”

•The Farmers’ Alliance called for political actions that many farmers could support.

•Gives Farmers Political Power

Ran candidates for office.

Controlled 8 state legislatures & had 47representatives in Congress during the 1890s.

Farmers’ Alliance

People’s Movement Spreads

United We United We Stand, Stand,

Divided Divided We FallWe Fall

United We United We Stand, Stand,

Divided Divided We FallWe Fall

In 1889 both In 1889 both the Northern andthe Northern andSouthern AlliancesSouthern Alliancesmerged into one—merged into one—the the Farmers’ Farmers’ AllianceAlliance..

Populists •1891- Becomes a national movemnt•Farmers’ Alliances formed a new political party, The People’s Party or the Populists.

•Supported by farmers, the West and parts of the South….

•Populists would run candidates in the 1892 and 1896 presidential elections.

• Populists push for government regulations to help “the Little Guy”

• Anti-monopoly

• Pro-Silver

Supreme Court Supreme Court DecisionsDecisions


• Munn vs. IllinoisMunn vs. Illinois (1877) (1877)

• RR monopolies were hurting Farmers. RR monopolies were hurting Farmers.

• Private companies could be seen as Private companies could be seen as operating in the public interestoperating in the public interest

• Allows for Gov’t regulation Allows for Gov’t regulation



Wabash, St. Louis, & Pacific Railroad Wabash, St. Louis, & Pacific Railroad Company vs. IllinoisCompany vs. Illinois (1886) (1886)

• Similar to Munn:

• It leads to the creation of the Interstate Commerce Commission.

• Federal government can regulate RR’s in the public interest

http://en.wikipedia.org/wiki/Interstate_Commerce_Commission

The Populist (Peoples’) The Populist (Peoples’) PartyParty

The Populist (Peoples’) The Populist (Peoples’) PartyParty

Founded by James B. Founded by James B. WeaverWeaverand Tom Watson.and Tom Watson.

Omaha, NE Convention in Omaha, NE Convention in July,July,1892.1892.

Got almost 1 million Got almost 1 million popularpopularvotes.votes.

Several Congressional Several Congressional seatsseatswon.won.

James B. Weaver, James B. Weaver, Presidential Presidential CandidateCandidate

&&James G. Field, VPJames G. Field, VP

Platform Platform of Lunacyof LunacyPlatform Platform of Lunacyof Lunacy

Omaha (populist) Platform of Omaha (populist) Platform of 18921892

Omaha (populist) Platform of Omaha (populist) Platform of 18921892

1.1. System of System of “sub-treasuries.”“sub-treasuries.”

2.2. Abolition of the National Bank.Abolition of the National Bank.

3.3. Direct election of Senators.Direct election of Senators.

4.4. Govt. ownership of RRs, telephone & Govt. ownership of RRs, telephone & telegraph companies.telegraph companies.

5.5. Government-operated postal savings Government-operated postal savings banks.banks.

6.6. Restriction of undesirable immigration.Restriction of undesirable immigration.

7.7. 8-hour work day for government 8-hour work day for government employees.employees.

8.8. Abolition of the Pinkerton detective Abolition of the Pinkerton detective agency.agency.

9.9. Australian secret ballot.Australian secret ballot.

10.10. Re-monitization of silver.Re-monitization of silver.

11.11. A single term for President & Vice A single term for President & Vice President.President.

Govt.-Owned Govt.-Owned CompaniesCompanies

Govt.-Owned Govt.-Owned CompaniesCompanies

1892 Election1892 Election1892 Election1892 Election

Bi-Metallism IssueBi-Metallism IssueBi-Metallism IssueBi-Metallism Issue

Reckless Expansion

• The 1880s had been a period of remarkable economic expansion in the United States.

• In time, the expansion became driven by speculation, much like the tech bubble of the late 1990s, except that the preferred industry was railroads.

• Railroads were vastly over-built (and fortunes were made

http://en.wikipedia.org/wiki/Dot-com_bubble

Tech-Bubble Dot-com bubble

Housing Bubble

Causes of the 1893 Causes of the 1893 PanicPanic


A. Several major corporations went A. Several major corporations went bankrupt.bankrupt.

A few large RR Companies went A few large RR Companies went bankruptbankrupt

Causes over 16,000 businesses to Causes over 16,000 businesses to disappear.disappear.

Triggered a stock market crash.Triggered a stock market crash.

People were nervous, took their $$ People were nervous, took their $$ out of banks all at once (-a run on out of banks all at once (-a run on banks-)banks-)



B. 500 Bank fail causing less credit B. 500 Bank fail causing less credit availableavailable

C. By 1895, unemployment reached 3 C. By 1895, unemployment reached 3 million (19%).million (19%).

Americans cried out for relief, Americans cried out for relief, but the Govt.continued its but the Govt.continued its laissez faire policies!!laissez faire policies!!



Causes the political crisis that Causes the political crisis that allows the populists to gain allows the populists to gain national attention national attention

Here Lies ProsperityHere Lies ProsperityHere Lies ProsperityHere Lies Prosperity

Written by a Farmer Written by a Farmer at the End of the 19cat the End of the 19cWritten by a Farmer Written by a Farmer at the End of the 19cat the End of the 19c

When the banker says he's brokeWhen the banker says he's broke And the merchant’s up in smoke,And the merchant’s up in smoke, They forget that it's the farmer They forget that it's the farmer who feeds them all. who feeds them all. It would put them to the testIt would put them to the test If the farmer took a rest;If the farmer took a rest; Then they'd know that it's the Then they'd know that it's the farmer farmer feeds them all. feeds them all.

•In 1893, Jacob Coxey, (leader of (leader of Coxey’s Army)Coxey’s Army) of Massillon, Ohio

•20,000 unemployed men and women began

a march to Washington, DC.

•Demands:

•US Govt. public works programs

•Railroads for the Public!

•Jobs for the unemployed.

Coxey’s Army, 1894Coxey’s Army, 1894Coxey’s Army, 1894Coxey’s Army, 1894

Jacob Coxey & his “Army of Jacob Coxey & his “Army of the Commonwealth of Christ.” the Commonwealth of Christ.”

March on Washington March on Washington “hayseed “hayseed socialists!”socialists!”

•600 protesters persisted through the length of the journey and on May 1, 1894.

• "Coxey's Army""Coxey's Army" reached

Washington and marched along Pennsylvania

Avenue.

•Before "General" Coxey"General" Coxey could deliver a historic speech, however, he was arrested by District police

- for walking on the grass.

•

Result of Election Result of Election ReturnsReturns

Result of Election Result of Election ReturnsReturns

Populist voteincreased by40% in the bi-election year,1894.

Democratic party losses in

the West werecatastrophic!

But, Republicanswon control of

the House.

Gold / Silver Bug Gold / Silver Bug Campaign PinsCampaign Pins

Gold / Silver Bug Gold / Silver Bug Campaign PinsCampaign Pins

•“Gold bugs” (big lenders)

•Silverites: Little Guys, farmers, populists

1860 to 19251860 to 1925 •William Jennings Bryan was a gifted speaker, lawyer, three-time presidential candidate.

•Defender of the small farmer and laborer, Bryan worked closely

with the Populist PartyPopulist Party.

•Bryan's efforts on behalf of farmers and laborers (the so-

called "common" people) earned him the title the ""Great Great

Commoner”Commoner”•Ran for the presidency

unsuccessfully in 3 elections as a Democrat.

•Known for the “Cross of Gold “Cross of Gold Speech”Speech”

•William Jennings Bryan's most well-known political speech

delivered before the Democratic Convention in 1896.

•Highlighted the Populist stance and his strong position on the issue of the "Gold-Standard." "Gold-Standard."

•Attacked the concept that gold was the only sound backing for

currency.

William Jennings William Jennings BryanBryan

William Jennings William Jennings BryanBryanPrairie avenger, Prairie avenger,

mountain lion, mountain lion,Bryan, Bryan, Bryan, Bryan, Bryan, Bryan,

Bryan, Bryan,Gigantic troubadour, Gigantic troubadour,

speaking like a speaking like a siege siege gun, gun,Smashing Plymouth Smashing Plymouth Rock Rock with his boulders with his boulders from the West. from the West.

Revivalist style of oratory.

Bryant’sBryant’s“Cross of Gold” Speech“Cross of Gold” Speech

Bryant’sBryant’s“Cross of Gold” Speech“Cross of Gold” Speech

You shall not You shall not press down press down upon the brow upon the brow of labor this of labor this crown of crown of thorns; you thorns; you shall not shall not crucify crucify mankind upon mankind upon aa cross of goldcross of gold!!

Bryan: The Farmers FriendBryan: The Farmers Friend(The Mint Ratio)(The Mint Ratio)

Bryan: The Farmers FriendBryan: The Farmers Friend(The Mint Ratio)(The Mint Ratio)

18,000 miles of campaign “whistle 18,000 miles of campaign “whistle stops.”stops.”

Democratic Democratic Party Party

Taken Over Taken Over by the by the

(populists) (populists) FarmersFarmers

Democratic Democratic Party Party

Taken Over Taken Over by the by the

(populists) (populists) FarmersFarmers

Democratic Party

Platform

Tariff reductions; income tax;

Stricter control of the trusts (esp. RRs);

Free silver.

Mark Hanna: Mark Hanna: The “Front-Porch” The “Front-Porch”

CampaignCampaign

Mark Hanna: Mark Hanna: The “Front-Porch” The “Front-Porch”

CampaignCampaign

William McKinley (1843-William McKinley (1843-1901)1901)

William McKinley (1843-William McKinley (1843-1901)1901)

Mark Hanna to Candidate Mark Hanna to Candidate McKinley McKinley

Mark Hanna to Candidate Mark Hanna to Candidate McKinley McKinley

The The Seasoned Seasoned PoliticianPolitician

vs.vs.

The The “Young” “Young” NewcomeNewcome

rr

The The Seasoned Seasoned PoliticianPolitician

vs.vs.

The The “Young” “Young” NewcomeNewcome

rr

Joshua A. Levering: Joshua A. Levering: Prohibition PartyProhibition Party

Joshua A. Levering: Joshua A. Levering: Prohibition PartyProhibition Party

Into Into Which Which

Box Will Box Will the the

VoterVoterof ’96 of ’96 Place Place His His

Ballot? Ballot?

Into Into Which Which

Box Will Box Will the the

VoterVoterof ’96 of ’96 Place Place His His

Ballot? Ballot?

1896 Election 1896 Election ResultsResults

1896 Election 1896 Election ResultsResults

Campaign Spending

• Wealthy interests were scared of Bryan who stood for the common-folk.

• McKinley spends $3.5 million on his campaign.

• Equivalent to 3 billion today.

• (Obama and McCain spent 900 million combined, the most ever)

• http://en.wikipedia.org/wiki/Lists_of_Presidents_of_the_United_States_by_place_of_birth#By_state_of_birth

http://en.wikipedia.org/wiki/Lists_of_Presidents_of_the_United_States_by_place_of_birth#By_state_of_birth



Results of the election of 1896:

• Farmers are no longer a political force

• Big Business gains more control

Gold Triumphs Over Gold Triumphs Over SilverSilver

Gold Triumphs Over Gold Triumphs Over SilverSilver

1900 1900 GoldGoldStandard ActStandard Act

confirmed theconfirmed thenation’s nation’s commitment tocommitment tothe gold the gold standard.standard.

A victory for the A victory for the

wealthywealthy

The The Wizard Wizard of Ozof Oz by L. by L.

Frank Frank BaumBaum

The The Wizard Wizard of Ozof Oz by L. by L.

Frank Frank BaumBaum

1964: Henry 1964: Henry Littlefield’s Littlefield’s “Thesis”? “Thesis”?

1964: Henry 1964: Henry Littlefield’s Littlefield’s “Thesis”? “Thesis”?

The Wizard of OzThe Wizard of Oz

Dorothy= the American people


• Wicked Witch of the west

• =• Bankers and

Capitalists


Yellow Brick Road

=

gold standard


• Tin man• = • industrial laborers

have no heart


• Scarecrow• = • farmers which are

dumb


• Lion• = • William Jennings

Bryan


• Wizard• = • McKinley/ Mark

Hanna

Heyday of Western Heyday of Western PopulismPopulism

Heyday of Western Heyday of Western PopulismPopulism

Why Did Populism Why Did Populism Decline?Decline?

Why Did Populism Why Did Populism Decline?Decline?

1.1. The economy experienced rapid The economy experienced rapid change.change.

2.2. The era of small producers and The era of small producers and farmers was fading away.farmers was fading away.

3.3. Race divided the Populist Party, Race divided the Populist Party, especially in the South.especially in the South.

4.4. The Populists were not able to The Populists were not able to breakbreakexisting party loyalties.existing party loyalties.

5.5. Most of their agenda was co-opted Most of their agenda was co-opted bybythe Democratic Party.the Democratic Party.

But, Populism Still But, Populism Still Lives!Lives!

But, Populism Still But, Populism Still Lives!Lives!

Populism Populism is a movement which supports "the people" versus "the elites."

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