The Rise and Fall of Populism

• By Jack Garrity

• Book pages 436-440

• Economic hardships led farmers to unite first in the Farmer’s Alliance then in the People’s or Populist Party. Populists advocated free silver, business regulations, and fought against the railroads. While the movement failed to elect William Jennings Bryant President it left two powerful legacies : a message that the downtrodden could organize and have political impact, and an agenda of reforms, many of which would be enacted in the 20th century.

THE FARMERS’ ALLIANCES • Farmers organized to push for reforms.

THE FARMERS’ ALLIANCES • In 1867, Oliver Hudson Kelley started the Patrons of Husbandry, an

organization for farmers that became popularly known as the Grange.

THE FARMERS’ ALLIANCES • The Grange started as a social and educational place, but turned

political against the railroads by the 1870s.

THE FARMERS’ ALLIANCES • The Grange’s battle plan included teaching its members how to

organize, how to set up farmers’ cooperatives, and how to sponsor state legislation to regulate railroads.

THE FARMERS’ ALLIANCES • Granges joined other people concerned with farmers forming

Farmers’ Alliances.

THE FARMERS’ ALLIANCES • Alliances sent lecturers from town to town to educate people

about topics such as lower interest rates on loans and government control over railroads and banks.

THE FARMERS’ ALLIANCES • Mary Elizabeth Lease helped get the message across, one of the

best lecturers.

THE FARMERS’ ALLIANCES • The Southern Alliance, including European American Southern

farmers, was the largest.

THE FARMERS’ ALLIANCES • About 250,000 African Americans belonged to the Colored Farmers’ National Alliance.

THE FARMERS’ ALLIANCES • Thinking alliance members promoted cooperation between African

and European Americans, but most members accepted the separation of the organizations.

The Rise and Fall of Populism • In 1892, Leaders of the alliances united to create the Populist,

or People’s Party.

The Rise and Fall of Populism • On July 2, 1892, a Populist Party convention in Omaha, Nebraska,

demanded reforms to lift the burden of debt from farmers and others and to give the people a greater voice in their government.

THE POPULIST PARTY PLATFORM • The Populist economic reforms included an increase in the

money supply (use silver), producing a rise in prices.

THE POPULIST PARTY PLATFORM • The Populist economic reforms included a graduated income tax.

THE POPULIST PARTY PLATFORM • The Populist economic reforms included a federal loan program.

THE POPULIST PARTY PLATFORM • They wanted the election of U.S. senators by popular vote.

THE POPULIST PARTY PLATFORM • They wanted a single terms for the president and the vice-

president, and a secret ballot to end vote fraud.

THE POPULIST PARTY PLATFORM • They called for an eight-hour workday and restrictions on

immigration.

THE POPULIST PARTY PLATFORM • To the shock of the Democrats and Republicans, the Populist presidential

candidate won almost 10 percent of the total vote in 1892.

THE POPULIST PARTY PLATFORM • In the West, the People’s Party elected five senators, three

governors, and about 1,500 state legislators.

THE POPULIST PARTY PLATFORM • The Democratic party eventually incorporated the Populists’

programs into its’ platform, beginning its concept that the government is responsible for reforming social injustices.

THE PANIC OF 1893 • In 1893, economic issues overtook political issues.

THE PANIC OF 1893 • Overextended farmers (loans) , railroad over construction, and

dwindling gold led to a stock market crash.

THE PANIC OF 1893 • In February 1893, the Philadelphia and Reading Railroad went

bankrupt, followed by the Erie, the Northern Pacific, the Union Pacific, and the Santa Fe.

THE PANIC OF 1893 • As the government bought silver instead of gold, people

panicked and traded paper money for gold.

THE PANIC OF 1893 • The price of silver then plunged, causing silver mines to close.

THE PANIC OF 1893 • By the end of the year, over 15,000 businesses and 500 banks

had collapsed.

THE PANIC OF 1893 • Investments declined, and consumer purchases, wages, and

prices also fell.

THE PANIC OF 1893 • The country went into depression as 3 million people lost their

jobs, 10-20 percent unemployment by December.

THE PANIC OF 1893 • Many farm families suffered both hunger and unemployment.

SILVER OR GOLD• Populists watched as the two major political parties became deeply

divided in a struggle between different regions and economic interests.

SILVER OR GOLD• Business owners and bankers of the industrialized Northeast were

Republicans; the farmers and laborers of the agrarian South and West were Democrats.

SILVER OR GOLD• The central issue of the campaign was which metal would be the

basis of the nation’s monetary system.

SILVER OR GOLD• Democrats were the “silverites,” favored bimetallism, the

government would back paper money with both gold and silver.

SILVER OR GOLD• On the other side were President Cleveland and the “gold bugs,” who

favored the gold standard—backing dollars solely with gold.

SILVER OR GOLD• People regarded paper money as worthless if it could not be

turned in for gold or silver.

SILVER OR GOLD• The West had lots of new silver and it could make more money

available, helping pay off debts and perhaps stimulating the economy

SILVER OR GOLD

• Old East Coast families had gold, and argued that keeping the gold standard would provide a more stable currency, and their fortunes intact.

BRYAN AND THE “CROSS OF GOLD

• The Populist Party wanted bimetallism. Yet should they join forces with a major parties and risk losing their political identity, or nominate their own candidates and risk losing the election

BRYAN AND THE “CROSS OF GOLD• During the 1896 campaign, the Republican Party stated its firm

commitment to the gold standard and nominated Ohioan William McKinley for president.

BRYAN AND THE “CROSS OF GOLD• The Democratic Party came out in favor of a combined gold and

silver standard, including unlimited coinage of silver. At the Democratic convention, former Nebraska congressman William Jennings Bryan, editor of the Omaha World-Herald, delivered the “Cross of Gold” speech.

BRYAN AND THE “CROSS OF GOLD• WILLIAM JENNINGS BRYAN “ Having behind us the producing

masses of this nation and the world, supported by the commercial interests, the laboring interests, and the toilers everywhere, we will 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 mankind upon a cross of gold.” —Democratic convention speech, Chicago, July 8, 1896

BRYAN AND THE “CROSS OF GOLD• Bryan won the Democratic nomination. The Populist endorsing

Bryan, nominating their own candidate, Thomas Watson of Georgia, for vice-president, and keeping their party organization intact.

BRYAN AND THE “CROSS OF GOLD• Bryan faced a difficult campaign. His free-silver stand had led

gold bug Democrats to nominate their own candidate.

BRYAN AND THE “CROSS OF GOLD• McKinley did well with cities voters feared inflation because it would

make goods more expensive.

BRYAN AND THE “CROSS OF GOLD• Bryan’s meager funds could not match the millions backing McKinley.

BRYAN AND THE “CROSS OF GOLD• Bryan tried to make up for lack of funds by campaigning in 27

states and sometimes making 20 speeches a day.

BRYAN AND THE “CROSS OF GOLD• McKinley, on the other hand, campaigned from his front porch,

while thousands of well-known people toured the country speaking on his behalf.

BRYAN AND THE “CROSS OF GOLD• McKinley got approximately 7 million votes and Bryan about 6.5

million.

BRYAN AND THE “CROSS OF GOLD• As expected, McKinley carried the East, while Bryan carried the

South and the farm vote of the Middle West. The voters of the industrial Middle West, with their fear of inflation, brought McKinley into office.

BRYAN AND THE “CROSS OF GOLD• With McKinley’s election, Populism collapsed, burying the hopes

of the farmers. The city had won.

BRYAN AND THE “CROSS OF GOLD• McKinley's election broke the deadlock in Washington, the

Republicans would win nearly every election until 1932.

BRYAN AND THE “CROSS OF GOLD• Populists left two powerful legacies : a message that the

downtrodden could organize and have political impact, and an agenda of reforms, many of which would be enacted in the 20th century.

Next time…. Imperialism

End