Farmers

Problems facing farmers (1870-

1920)
- Agricultural Overproduction-
- Opening of Great Plains; meant more farmers
- Improved machinery meant more production
- International competition- RR & Steamboat created new markets
- Scarcity of Money; Gov’t stopped minting silver; As population grew & value
of goods grew there wasn’t enough money in circulation
- High Shipping costs; RR could charge what they want
- Farm debt and cost of money; banks charged high interest on loans
- High cost of Manufactured products; kerosene, fertilizer, machinery

Sherman Silver Purchase Act
(1890)
• Repealed in 1893 when country
was in depression.
• Required Gov’t to purchase a large
amount of silver each month-
Farmers hoped it would increase
the money supply
Grange Movement (1867)
Started by Oliver Hudson
 • National Association of Farmers
• Wanted to modernize farming
Grange movement
• Elected candidates in state
legislature
• Passed laws regulating RR and
grain storage rates
 Munn v. Illinois (1877)
• Illinois passed law regulating grain elevators
• Supreme court ruled that state Gov’t could regulate a private utility if
that utility was serving the public interest

• Wabash V. Illinois (1886)- invalidated many Granger laws

• Interstate Commerce Act (1887)
Populist Party (1892-1896)
• Farmers formed regional Political Associations- Farmers Alliances
• Early 1890’s Farmers Alliances leaders formed a new national political
party; “Peoples Party” better known as Populist Party
Populist platform of 1892- Omaha
Platform
• Key provisions;
• Direct election of senators
• Secret ballots
• 8 hour workday for industrial workers
• Term limit for presidents(they wanted only one)
• Initiatives(voters could introduce bills directly on ballot)
• Referendums (direct vote on an issue- voters could change proposed
legislation
• They got 5 Senators elected
Election of 1896
• Populists wanted free coinage of silver; the money supply was still low
and they thought this would increase money supply
• Democratic convention 1896; Grover Cleveland (incumbent) Dem
• Free silver democrats defeated Clevelands supporters; William
Jennings Bryan won nomination- delivered famous Cross of Gold
Speech
• Mckinley (Rep) defeated Bryan
• Bryan ran again in 1900 & 1908 and lost