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The Populists and the The Populists and the Election of 1896Election of 1896
Libertyville HSLibertyville HS
Rise of the Populist PartyRise of the Populist PartyPopulists were mainly Populists were mainly
western farmerswestern farmersCalled for regulation, Called for regulation,
reform of national reform of national politicspolitics
Supported “free Supported “free silver”silver”
Wanted gov’t help to Wanted gov’t help to stop deflation of stop deflation of agriculture pricesagriculture prices
Wanted gov’t help to Wanted gov’t help to fight back against fight back against RRs, other companiesRRs, other companies
Rise of the Populist PartyRise of the Populist PartyWhy form a new Why form a new
political party?political party?D, R parties were not D, R parties were not
responsive to responsive to demands of W farmersdemands of W farmers
Both parties Both parties supported gold supported gold standardstandard
Both parties seen as Both parties seen as corruptcorrupt
Both parties seen as Both parties seen as controlled by big controlled by big businessbusiness
1892 Omaha Convention1892 Omaha Convention Populist party Populist party
platformplatform Abolition of national Abolition of national
banksbanks Graduated income Graduated income
taxtax Direct election of Direct election of
US senatorsUS senators
Civil service reformCivil service reform Eight hour work dayEight hour work day Gov’t control of Gov’t control of
RRs, telegraphs, RRs, telegraphs, telephonestelephones
BimetallismBimetallism
Convention delegates
BimetallismBimetallism Gold, Silver and Gold, Silver and
“Bimetallism”“Bimetallism” Raw gold was brought Raw gold was brought
to US mint and made to US mint and made into coins for into coins for depositor, at rate of depositor, at rate of $20 per oz$20 per oz
““Free silver” Free silver” movement wanted movement wanted raw silver treated in raw silver treated in same way as gold, at same way as gold, at rate of $1 per ozrate of $1 per oz
Result of policy would Result of policy would have been increase in have been increase in money supply and money supply and inflationinflation
Gold vs. SilverGold vs. Silver Following Civil War, US Following Civil War, US
in deflationary period in deflationary period (prices, wages going (prices, wages going down)down)
Silver would have Silver would have increased wages (helped increased wages (helped farmers, debtors pay off farmers, debtors pay off fixed debt)fixed debt)
Regional interestsRegional interestsEast = gold backed East = gold backed
money (int’l trade)money (int’l trade)Midwest, West = silver Midwest, West = silver
moneymoney
Merging of Populists & Merging of Populists & DemocratsDemocrats
Democratic party Democratic party adopted many adopted many populist causespopulist causes
In 1896, populists In 1896, populists nominated William nominated William Jennings Bryan Jennings Bryan (orator, populist – (orator, populist – “The Great “The Great Commoner”)Commoner”)
At Convention, Bryan At Convention, Bryan gave “Cross of Gold” gave “Cross of Gold” speech (supported speech (supported bimetallism)bimetallism)
““Cross of Gold” SpeechCross of Gold” Speech
““Having behind us the producing masses Having behind us the producing masses of this nation and the world, supported of this nation and the world, supported by the commercial interests, the by the commercial interests, the laboring interests and the toilers laboring interests and the toilers everywhere, we will answer their everywhere, we will answer their demand for a gold standard by saying to demand for a gold standard by saying to them: You shall not press down upon the them: You shall not press down upon the brow of labor this crown of thorns, you brow of labor this crown of thorns, you shall not crucify mankind upon a cross of shall not crucify mankind upon a cross of gold.”gold.”
Election of 1896Election of 1896 Considered one of the Considered one of the
most dramatic in US most dramatic in US historyhistory
Realigning electionRealigning election Campaigning Campaigning
candidatescandidates Private fundraising Private fundraising Campaigning based on Campaigning based on
class conflictclass conflict New Democratic New Democratic
coalition emergedcoalition emerged1896 Election returns, Groton CT
Election of 1896Election of 1896 New Democratic coalitionNew Democratic coalition
Democrats (minus their Democrats (minus their pro-business wing)pro-business wing)
PopulistsPopulists SouthSouth ““Silver Republicans” (GOP Silver Republicans” (GOP
from western states, from western states, supporting bimetallism)supporting bimetallism)
New Republican coalitionNew Republican coalition BusinessmenBusinessmen ProfessionalsProfessionals Skilled factory workersSkilled factory workers Prosperous farmersProsperous farmers
Election of 1896Election of 1896 Issues in electionIssues in election
BimetallismBimetallism Gold StandardGold Standard Free SilverFree Silver TariffTariff
Bryan campaigned for Bryan campaigned for president!president! Gave over 500 Gave over 500
speeches in 100 daysspeeches in 100 days Targeted swing statesTargeted swing states
Mark Hanna, Mark Hanna, campaign manager campaign manager for McKinleyfor McKinley
ResultMcKinley 271 ECV / 7.1 millionBryan 176 ECV / 6.5 million