chapter 5 section 3
TRANSCRIPT
Railroads take advantage of farmers Excessive Prices
Shipping Storage
Farmer’s could not pay their loans.
Farmer’s Unite
The Grange Oliver Hudson Kelley
Isolated Farm Families Social Outlet Educational Forum
Two Alliances Southern Alliance Colored Farmers’
National Alliance
New Political Party Emerges
Populist People’s Party Help farmers and
laborers Party Platform
Increase in $$ supply Graduated income tax Federal loan program
Panic of 1893
Farmers are in debt. Railroads go bankrupt. Government wears thin of gold. Stock market crashes. 15,000 businesses and 500 banks
collapse. 20% of workforce is unemployed.
Bimetallism vs. Gold Standard Bimetallism
“Silverites” Gov’t gives gold
or silver in exchange for paper currency.
Gold Standard “Gold Bugs” Backing dollars
solely with gold.
“Cross of Gold” speech William Jennings Bryan Democratic Convention
Won Democratic Nomination Won Populist Nomination
Excerpt on page 223
Literature of the WestIt certainly had a wide
celebrity...but I was aware that it was only the frog that was celebrated. It wasn't I.
- Mark Twain's
Autobiography
Bret Harte