Unit 8 Part 3 2013Unit 8 Part 3 2013

Falling PricesHigh RR Rates

Lack of money in circulation

EVIL GOLD STANDARD

Little organizedpolitical power

High Debt

The Silver IssueThe Silver IssueThe Silver IssueThe Silver Issue “Crime of ’73” govt. stopped

coining silver

Bland-Allison Act (1878) limitedsilver coinage to $2-$4 mil. per mo.(based on the 16:1 ratio of silver togold).

Sherman Silver Purchase Act (1890)

The US Treasury must purchase$4.5 mil. of silver a month.

Govt. deposited most silver in theUS Treasury rather than circulation.

Price Indexes for Price Indexes for Consumer & Farm Consumer & Farm Products: 1865-Products: 1865-

19131913

Price Indexes for Price Indexes for Consumer & Farm Consumer & Farm Products: 1865-Products: 1865-

19131913

The Grange The Grange MovementMovementThe Grange The Grange MovementMovement

First organized in the 1870s in First organized in the 1870s in the Midwest, the south, and the Midwest, the south, and Texas.Texas.

Set up cooperative associations.Set up cooperative associations.

Social and educational Social and educational components.components.

Succeeded in lobbying for Succeeded in lobbying for “Granger Laws“Granger Laws.”.”

Rapidly declined by the late Rapidly declined by the late 1870s1870s..

Supreme Court Supreme Court DecisionsDecisions

Supreme Court Supreme Court DecisionsDecisions

Munn vs. IllinoisMunn vs. Illinois (1877) (1877) Supreme Crt Supreme Crt ruled that states have the right to ruled that states have the right to regulate private companies in the regulate private companies in the interest of the publicinterest of the public

Wabash, St. Louis, & Pacific Wabash, St. Louis, & Pacific Railroad Company vs. IllinoisRailroad Company vs. Illinois (1886)(1886)

The Court held that Illinois had violated The Court held that Illinois had violated the Commerce Clause by placing a direct the Commerce Clause by placing a direct burden on interstate commerce. Under burden on interstate commerce. Under the Commerce Clause only Congress had the Commerce Clause only Congress had the power to do sothe power to do so

THIS LED TO CREATION OF ICCTHIS LED TO CREATION OF ICC

The Farmers The Farmers AlliancesAlliances

The Farmers The Farmers AlliancesAlliances

Begun in the late 1880sBegun in the late 1880s

Built upon the ashes of the Grange.Built upon the ashes of the Grange.

More political and less social than More political and less social than the Grange.the Grange.

Ran candidates for office.Ran candidates for office.

Controlled 8 state legislatures & had Controlled 8 state legislatures & had 4747representatives in Congress during representatives in Congress during the 1890s.the 1890s.

United United We We

Stand, Stand, DivideDivided We d We FallFall

United United We We

Stand, Stand, DivideDivided We d We FallFall In 1889 both In 1889 both

the Northern andthe Northern andSouthern AlliancesSouthern Alliancesmerged into one—merged into one—the the Farmers’ Farmers’ AllianceAlliance..

Platform of Platform of LunacyLunacy

Platform of Platform of LunacyLunacy

The Populist The Populist (Peoples’) Party(Peoples’) Party

The Populist The Populist (Peoples’) Party(Peoples’) Party

Founded by James B. Founded by James B. WeaverWeaverand Tom Watson.and Tom Watson.

Omaha, NE Convention in Omaha, NE Convention in July,July,1892.1892.

Got almost 1 million Got almost 1 million popularpopularvotes.votes.

Several Congressional Several Congressional seatsseatswon.won.

James B. Weaver, James B. Weaver, Presidential Presidential CandidateCandidate

&&James G. Field, VPJames G. Field, VP

Omaha Platform of 1892Omaha Platform of 1892Omaha Platform of 1892Omaha Platform of 1892

1.1. System of System of “sub-treasuries.”“sub-treasuries.”

2.2. Abolition of the National Bank.Abolition of the National Bank.

3.3. Direct election of Senators.Direct election of Senators.

4.4. Govt. ownership of RRs, telephone & Govt. ownership of RRs, telephone & telegraph companies.telegraph companies.

5.5. Government-operated postal savings Government-operated postal savings banks.banks.

6.6. Restriction of undesirable immigration.Restriction of undesirable immigration.

7.7. 8-hour work day for government 8-hour work day for government employees.employees.

8.8. Abolition of the Pinkerton detective Abolition of the Pinkerton detective agency.agency.

9.9. Australian secret ballot.Australian secret ballot.

10.10. Re-monitization of silver.Re-monitization of silver.

11.11. A single term for President & Vice A single term for President & Vice President.President.

Govt.-Owned Govt.-Owned CompaniesCompanies

Govt.-Owned Govt.-Owned CompaniesCompanies

1892 Election1892 Election1892 Election1892 Election

Bi-Metallism Bi-Metallism IssueIssue

Bi-Metallism Bi-Metallism IssueIssue

Causes of the 1893 Causes of the 1893 PanicPanic

Causes of the 1893 Causes of the 1893 PanicPanic

Caused by: Over-extended investments Caused by: Over-extended investments (mostly RRs).(mostly RRs).

Results:Results:

1.1. Several major corps. went bankrupt.Several major corps. went bankrupt.

Over 16,000 businesses Over 16,000 businesses disappeared.disappeared.

Triggered a stock market crash.Triggered a stock market crash.

2.2. Bank failures followed causing a Bank failures followed causing a contractioncontractionof credit [nearly 500 banks closed].of credit [nearly 500 banks closed].

3.3. By 1895, unemployment reached 3 By 1895, unemployment reached 3 million.million.

Americans cried out for relief, but the Americans cried out for relief, but the Govt.Govt.continued its laissez faire policies!!continued its laissez faire policies!!

Here Lies Here Lies ProsperityProsperityHere Lies Here Lies ProsperityProsperity

Written by a Written by a Farmer at the Farmer at the End of the 19cEnd of the 19c

Written by a Written by a Farmer at the Farmer at the End of the 19cEnd of the 19cWhen the banker says he's brokeWhen the banker says he's broke

And the merchant’s up in smoke,And the merchant’s up in smoke, They forget that it's the farmer They forget that it's the farmer who feeds them all. who feeds them all. It would put them to the testIt would put them to the test If the farmer took a rest;If the farmer took a rest; Then they'd know that it's the Then they'd know that it's the farmer farmer feeds them all. feeds them all.

Coxey’s Army, Coxey’s Army, 18941894

Coxey’s Army, Coxey’s Army, 18941894

Jacob Coxey & his “Army of Jacob Coxey & his “Army of the Commonweal of Christ.”the Commonweal of Christ.”

March on Washington March on Washington “hayseed “hayseed socialists!”socialists!”

Result of Election Result of Election ReturnsReturns

Result of Election Result of Election ReturnsReturns

Populist voteincreased by40% in the bi-election year,1894.

Democratic party losses in

the West werecatastrophic!

But, Republicanswon control of

the House.

Gold / Silver Bug Gold / Silver Bug Campaign PinsCampaign Pins

Gold / Silver Bug Gold / Silver Bug Campaign PinsCampaign Pins

William Jennings William Jennings Bryan Bryan

(1860-1925)(1860-1925)

William Jennings William Jennings Bryan Bryan

(1860-1925)(1860-1925)

The “Great Commoner”The “Great Commoner”

William Jennings William Jennings BryanBryan

William Jennings William Jennings BryanBryanPrairie avenger, Prairie avenger,

mountain lion, mountain lion,Bryan, Bryan, Bryan, Bryan, Bryan, Bryan,

Bryan, Bryan,Gigantic troubadour, Gigantic troubadour,

speaking like a speaking like a siege siege gun, gun,Smashing Plymouth Smashing Plymouth Rock Rock with his boulders with his boulders from the West. from the West.

Revivalist style of oratory.

Bryan’sBryan’s“Cross of Gold” “Cross of Gold”

SpeechSpeech

Bryan’sBryan’s“Cross of Gold” “Cross of Gold”

SpeechSpeechYou shall not You shall not press down press down upon the brow upon the brow of labor this of labor this crown of crown of thorns; you thorns; you shall not shall not crucify crucify mankind upon mankind upon aa cross of goldcross of gold!!

Bryan: The Farmers Bryan: The Farmers FriendFriend

(The Mint Ratio)(The Mint Ratio)

Bryan: The Farmers Bryan: The Farmers FriendFriend

(The Mint Ratio)(The Mint Ratio)

18,000 miles of campaign “whistle 18,000 miles of campaign “whistle stops.”stops.”

DemocratDemocratic Party ic Party Taken Taken

Over by Over by the the

Agrarian Agrarian LeftLeft

DemocratDemocratic Party ic Party Taken Taken

Over by Over by the the

Agrarian Agrarian LeftLeft

Platform tariff reductions; income tax; strictercontrol of the trusts (esp. RRs); free silver.

Mark Hanna: Mark Hanna: The “Front-Porch” The “Front-Porch”

CampaignCampaign

Mark Hanna: Mark Hanna: The “Front-Porch” The “Front-Porch”

CampaignCampaign

William McKinley William McKinley (1843-1901)(1843-1901)

William McKinley William McKinley (1843-1901)(1843-1901)

Mark Hanna to Mark Hanna to McKinleyMcKinleyMark Hanna to Mark Hanna to McKinleyMcKinley

““A Giant A Giant Straddle”: Straddle”:

Suggestion for a Suggestion for a McKinley Political McKinley Political

PosterPoster

““A Giant A Giant Straddle”: Straddle”:

Suggestion for a Suggestion for a McKinley Political McKinley Political

PosterPoster

The The Seasoned Seasoned PoliticianPolitician

vs.vs.

The The “Young” “Young” NewcomeNewcome

rr

The The Seasoned Seasoned PoliticianPolitician

vs.vs.

The The “Young” “Young” NewcomeNewcome

rr

Into Into Which Which

Box Will Box Will the the

VoterVoterof ’96 of ’96 Place Place His His

Ballot? Ballot?

Into Into Which Which

Box Will Box Will the the

VoterVoterof ’96 of ’96 Place Place His His

Ballot? Ballot?

1896 Election 1896 Election ResultsResults

1896 Election 1896 Election ResultsResults

Why Did Bryan Why Did Bryan Lose?Lose?

Why Did Bryan Why Did Bryan Lose?Lose?

His focus on silver His focus on silver underminedunderminedefforts to build bridges to efforts to build bridges to urbanurbanvoters.voters.

He did not form alliances He did not form alliances withwithother groups.other groups.

McKinley’s campaign was McKinley’s campaign was well-well-organized and highly funded.organized and highly funded.

Gold Triumphs Gold Triumphs Over SilverOver Silver

Gold Triumphs Gold Triumphs Over SilverOver Silver

1900 1900 GoldGoldStandard ActStandard Act

confirmed theconfirmed thenation’s nation’s commitment tocommitment tothe gold the gold standard.standard.

A victory for the A victory for the

forces offorces ofconservatism.conservatism.

Height of Western Height of Western PopulismPopulism

Height of Western Height of Western PopulismPopulism

Why Did Why Did Populism Populism Decline?Decline?

Why Did Why Did Populism Populism Decline?Decline?1.1. The economy experienced rapid The economy experienced rapid

change.change.

2.2. The era of small producers and The era of small producers and farmers was fading away.farmers was fading away.

3.3. Race divided the Populist Party, Race divided the Populist Party, especially in the South.especially in the South.

4.4. The Populists were not able to The Populists were not able to breakbreakexisting party loyalties.existing party loyalties.

5.5. Most of their agenda was co-opted Most of their agenda was co-opted bybythe Democratic Party.the Democratic Party.

The Wizard The Wizard of Ozof Oz

by L. Frank by L. Frank BaumBaum

Just a Just a Children’sChildren’s

Book?Book?

The Wizard The Wizard of Ozof Oz

by L. Frank by L. Frank BaumBaum

Just a Just a Children’sChildren’s

Book?Book?

1964: Henry 1964: Henry Littlefield’s Littlefield’s “Thesis”? “Thesis”?

1964: Henry 1964: Henry Littlefield’s Littlefield’s “Thesis”? “Thesis”?

What Are the What Are the Metaphors?Metaphors?

What Are the What Are the Metaphors?Metaphors?

Dorothy Dorothy ? ?

Kansas Kansas ? ?

Wicked Witch of theWicked Witch of theEast East ? ?

Tin Woodsman Tin Woodsman ? ?

Scarecrow Scarecrow ? ?

Cowardly Lion Cowardly Lion ? ?

Yellow Brick Road Yellow Brick Road ??

Lollipop Guild Lollipop Guild ? ?

Emerald City / Emerald City / OzOz ? ?

The Wizard The Wizard ? ?

Munchkins Munchkins ? ?

Lullaby League?Lullaby League?

Wicked Witch of the Wicked Witch of the West West ? ?

Flying Monkeys Flying Monkeys ? ?Try to guess who or what the characters represent in the late nineteenth century.We have read about or discussed every one of the representations!!!!