The Industrial Revolution Section 6.4 Populism (Appleby ) Todays Agenda Populism Slide Show Presentations Homework Read Unit Test on the Political Spectrum & Chapter 5-6 next week (Thurs.!!!) Start studying now Homestead Act What were the Homestead Acts?Homestead Homestead Acts US Gov. program to settle the midwest Gov. gave up to 162 acres per farmer for free Production of wheat greatly increased New farmland New farming methods use of manure:} New machinery McCormick Reaper So things were going well, right? How were farmers doing during the 1880s? Terribly! Why? Overproduction led to falling prices Heavily in debt Borrowed money from banks Gold-only money policy of US government prevented famers from making more money High tariffs prevented sales in Europe High transportation prices from RR owners took $ away from farmers What is significant about the Munn v. Illinois case of 1877? Supreme Court upheld right of Illinois to regulate private property Giant elevators used for grain Decision said State CAN limit prices RR owners could charge farmers 1 st time US gov. regulated economy in 1890s What does the artist think of RR owners? What was the Wabash case (1886)? RR owners appealed Munn decision to Supreme Court Railroad lawyers argued Article I, Section 8, Clause 3 of the US Constitution That Congress (NOT STATES) shall have the power: To regulate commerce with foreign nations, and among the several States, and with the Indian tribes Supreme Court used power of Judicial Review to nullify Munn decision Agreed with RR owners that Munn decision was unconstitutional John Philip Sousa Presentation Describe the US governments financial policy in the 1890s. Tight money policy Very limited (small) supply of money in circulation U.S.s paper money supply backed by Gold Very limited (tight) supply Dollars had greater buying power Kept prices lower Hurt farmers most Food prices had dropped Farmers earned less Mortgage payments remained the same What did the farmers want? Bi-metalism (a loose money policy) Dollars backed by gold and silver Would increase supply of money Cause inflation Make money have less buying power price of wheat would rise Famers would make more money Allow them to pay off their debts What was Grover Clevelands attitude towards the economy? Todays Goals Review what we know CAPP Analysis Review What were the homestead acts? Were they good for farmers? Which Supreme Court decision hurt farmers, Munn v Illinois or Wabash, St. Louis & Pacific Railway Co. v. Illinois? Why? What is bimetallism and why did farmers want it? How did the tariff hurt the farmers? Tariff= a tax on imported goods Imported goods= products made in other nations Protective Tariff High tariff (tax) on imports intended to keep foreign products out Protects infant industries If US tariffs are high, foreign nations will raise their tariffs Farmers were unable to sell their wheat overseas Does the author of this cartoon favor protective tariffs? Explain. How does a (Protective) tariff work? A well established factory in England can make wool rugs for $50 each. Wool rugs are transported to America. The US Gov. places a 89% tax (tariff) on each English rug. A fledgling (infant) American factory can make wool rugs to sell for $90 each. Consumers can buy an American rug for $90 or an English rug for $95 (.89 X $50) What was the Populist (Peoples) party? Third party Coalition of farmers, laborers, reformers Favored: Immigration restrictions 8 hr. workday Income tax Gov Ownership of RR, telegraph system Lower tariff Bimetalism Ultimately decided to support Democratic candidate William Jennings Bryant for president in 1896 election Click for clip CAPP Analysis C Context What immediate or long term events or issues may have shaped the author of this doc A Audience Who is the author speaking to P Purpose What does the author want P Point of View From what vantage point does the author view the world As a Democrat, Republican, As a man, a woman, for the upper class or lower class, etc. CAPP Analysis C Context A Audience P Purpose P Point of View CAPP Analysis C Context Gilded Age Election of 1896 Homestead Acts Emergence of Labor Unions Issues of bimetallism A Audience Readers of Putsch Magazine Likely voters P Purpose To ridicule (make fun of) Peoples Party P Point of View Not a member of the peoples party Likely a republican Who was William Jennings Bryan? Liberal, Democrat candidate for president Supported by farmers, reformers Supported: bi-metalism low tariff Called the gold only money policy a Cross of Gold A slow torturous death (economically) for farmers Extremely religious Great orator/ Tireless campaigner Who was William McKinley? Conservative, Republican candidate for president Supported by big business, eastern factory workers, Catholics, immigrants Promised everyone a Full dinner pail Supported: Gold-only monetary policy High protective tariff Never left front porch and gave few speeches What it the artist trying to imply about McKinley? CAPP Analysis C Context A Audience P Purpose P Point of View What does Bryan mean by a cross of gold? Gold-only money policy is crushing (crucifying) the farmers Used Biblical imagery in speeches Delivered over 600 speeches in 14 weeks Evangelical style scarred Catholic immigrants Thousands of pamphlets frightened factory workers about tariff Lampooned (made fun of) in political cartoons as a fraud who used religion to gain power McKinley won election decisively Burn down your cites and leave our farms, and your cities will spring up again as if by magic. But destroy our farms and the grass will grow in the streets of every city in the countryyou shall not crucify mankind upon a cross of gold. Election of 1896 What do you think the wealthy elite think of Berny Sanders? Scott Joplin Presenta- tion