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Populism

Terms in this set (16)

Populism
the political doctrine that supports the rights and powers of the common people in their struggle with the privileged elite
Deflation
A situation in which prices are declining
overproduction
a situation in which the supply of manufactured goods exceeds the demand
Farmers' Alliance
A Farmers' organization founded in late 1870s; worked for lower railroad freight rates, lower interest rates, and a change in the governments tight money policy
The Grange (Patrons of Husbandry)
Social and educational organization through which farmers attempted to combat the power of the railroads in the late 19th century.
Populist Party (People's Party)
U.S. political party formed in 1892 representing mainly farmers, favoring free coinage of silver and government control of railroads and other monopolies
William Jennings Bryan "Cross of Gold" Speech
Famous speech against gold standard currency.
Gold Standard
A monetary system in which paper money and coins are equal to the value of a certain amount of gold
Election of 1896 candidates
William McKinley and William Jennings Bryan
Election of 1896 Issues
Republican William McKinley defeated Democrat William Jennings Bryan in 1896. Bryan was the nominee of the Democrats, the Populist Party, and the Silver Republicans. Economic issues, including bimetallism, the gold standard, Free Silver, and the tariff, were crucial.
Farming the plains
Rough; Homestead Act gave land, but only bad land because good went to railroad companies who built transcontinental railroad; "dry farming" required new techniques = innovation
farming technology problems
made it easier for farmers to grow and collect larger amounts of food, leading to surpluses that put them into debt
farming technology examples
dry farming, steel plow, barbed wire, reaping machine
dry farming
a way of farming dry land in which seeds are planted deep in ground where there is some moisture
Railroad problems 1870s
Overbuilt = hard to get new customers = new schemes: "rebates" (special prices for special people), lower prices for return rates, long hauls, large hauls
Railroads and Farmers
Railroad companies had a monopoly on areas out west, so farmers could only ship their goods on that railway. Prices were jacked up for shipping to take advantage
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