•536-544

- Analyze several political cartoons related to

the Populist or People’s Party.

- Explain the “Crisis” of the 1890s.

Inflation – period when prices rise faster

than the value of money/wages.

• Deflation – prices decrease and the value of money increases.

Inflation vs. DeflationInflation Deflatio

n

M = Amount of

money in circulation

V = Value of money

(purchasing power)

P = Prices of goods

Interpreting Political Cartoons:

Interpret the meaning of the cartoon.

Label and explain how the cartoonist has used symbolism in the cartoon.

The Crisis of the 1890s

• Severe economic depression caused widespread discontent among farmers and workers.• Causes:

• Crop prices fell due to international overproduction.• Bad weather.• Debt overwhelmed many farmers.

Price Indexes for Consumer & Farm Products: 1865-1913

Price Indexes for Consumer & Farm Products: 1865-1913

The Crisis of the 1890s

• Response:• The Farmers Alliance was formed and proposed the

following solutions”• Cooperatives• Easy Credit – Banking Reforms• Subtreasury Plan• Free Silver (inflation)• Government Control of Railroads

Congress REJECTED most of their ideas!

United We

Stand, Divided We Fall

United We

Stand, Divided We FallIn 1889 both

the Northern andSouthern Alliancesmerged into one—the Farmers’ Alliance.

The Crisis of the 1890s

• Response:• Third Parties grew such as the Populist (or Peoples’ Party)

“Sockless Jerry” Simpson Annie Diggs Mary E. Lease

Leaders of the People’s Party

(Populist Party)

James WeaverWilliam Jennings

Bryan

The Crisis of the 1890s

• Response:• Third Parties grew such as the Populist (or Peoples’ Party)• In 1892, the Populist Party organized on a national level in

Omaha, NE and ran James Weaver for president, adopted the “Omaha Platform”:

• Gov’t. ownership of railroads and utilities• National Currency• Free Silver• Subtreasury Plan• Graduated Income Tax• Redistribute Railroad lands• Direct Election of Senators• Secret Ballot

This hostile cartoon depicts the People’s Party as an odd assortment of radical dissidents committed to a “Platform of Lunacy.”

Coxey’s Army, 1894

Coxey’s Army, 1894

Jacob Coxey & his “Army” marching

to Washington with their “Petition with Boots”

The Crisis of the 1890s

• The Election of 1896• Populists ran William

Jennings Bryan.• Supported Free Silver.

Bryan’s “Cross of Gold” Speech

Bryan’s “Cross of Gold” SpeechYou shall not

press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon a cross of gold!

The Crisis of the 1890s

• The Election of 1896• Populists ran William

Jennings Bryan.• Supported Free Silver.

• Democrats ALSO ran Bryan for president.

• Republicans ran William McKinley for president.

• Backed by wealthy Ohio businessman Marcus Hanna.

• Supported tariffs and Gold Standard.

1896 Election Results

1896 Election Results