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Terms in this set (51)The Grangers goals -regulation of R.R. Rates -easier credit Knights of Labor goals - 8hr work day Greenback Party goals -inflated currency Farmers' Alliance Goals inflated currency What was the first major farm organization The Grange At first, what was the Grange's purpose? - attempting to bring farmers together to learn scientific agricultural techniques As membership grew for the Grange, how did it evolve (what did it focus on?)? Focused less on social benefits of organization and moreso on economic possibilities What did marketing cooperatives allow for the Grangers? Allowed them to avoid/ get around middlemen (people who managed the salve of farmers crops to take a large cut of the profit for themselves. True or False: The Grangers wanted to curb monopolistic practices by railroads and warehouses True Why did most Granger enterprises fail? Because of the inexperience of their operators and their opposition towards the middlemen The Granger's wanted railroads to be in whose control? government's The Farmers Alliance were mostly concerned with what problems? Local problems What did Farmer's Alliance form and establish? Why? Formed cooperatives and other marketing mechanisms. Established stores, banks, processing plants, and other facilities for their members to free them from the hated furnishing merchants who kept so many farmers in debt. Alliance lecturers tried to promote what? For people to attack the concentration of power in great corporations and financial institutions. And also to promote cooperation as an alternative economic system Women's role in the Alliance Could vote in most of them. Many held office and served as lecturers Emphasized concern of temperance. Said sobriety was key to stability. Why did farmers want to undo Crime of 73? Because they wanted an increase in the quantity of money - an inflation of the currency as a means of raising the prices of farm products and easing payment of the farmers' debts Mary Lease Populist orator. Popular among populist farmers with her criticism of banks, railroads, and "middlemen," and her famous advice to "raise less corn and more hell Alliances compared to Granges More widespread. Suffered similar problems Problems Alliances faced Cooperatives didn't always worked well because market forces operating against them were too strong. Cooperatives were mismanaged. The Populists appealed to what kind of farmer? Why? appealed principally to farmers, particularly to small farmers with little long-range economic security-people whose operations were minimally mechanized, if at all, who relied on one crop, and who had access only to limited credit. In the Midwest, the Populists were usually family farmers struggling to hold on to their land (or to get it back). In the South, there were many modest landowners too, but in addition there were significant numbers of sharecroppers and tenant farmers. The Populists were engaged in what kind of farming? Not as mechanized, diversified or consolidated as commercial agriculture The Populist party appealed to who? Isolated farmers who felt cut off from national life and resented their isolation. What kind of currency did the populist party demand? free silver which means permitting silver along with gold as the basis of currency to expand money supply Colored Alliance important black component to the movement. Whites would allow blacks to be a part of them but whites made it known they were still in control What were subtreasuries? to replace and strengthen the cooperatives of Grangers and Alliances that had been experimenting for years. The government would establish network of warehouses where farmers could deposit crops Populist Party Platform (1892) 1. Unlimited coinage of silver 16:1 What was the effect of the depressed prices in agriculture since 1887? Not only did it lead to the Panic of 1893 but it also weakened the purchasing power of the farmers The financial panic weakened what? The government's monetary system Bi-metalism where the US recognized both gold and silver as the basis of currency By discontinuing silver coinage, Congress had done what? Eliminated a potential method of expanding currency Greenbacks paper money not backed by gold Greenback Party wanted the federal gov't to continue using the unbacked money Farmers and poor found that if currency value goes up... it's harder to pay bills and debt By the end of the civil war $1= .46, why didn't farmers care about this? It meant that they owed less Gresham's Law An economic system dealing with the circulation of money True of False: The value of gold coins in relation to silver coins was fixed by law true Market prices of gold and silver coins rose and fell in relation to demand of the metals and how much was available Crime of '73 Also called Demonitization Act of 1873. Set gold as basis for currency thus discontinuing bimetallism. This was attacked by those who supported an inflationary monetary policy, particularly farmers and believed in the unlimited coinage of silver; they concluded that a conspiracy of big bankers had been responsible for the "demonetization" of silver Bland Allison Act & Silver Purchase Act Resulted from the demands of silver mine owners and cheap currency advocates for the restoration of bimetallism Bland Allison Act provided that the US Government would buy from $2-4 million worth of silver each month in the open market. The silver was to be coined into dollars or paper silver certificates were to be issued and used as legal tender. (The law was passed over Hayes' veto) The Sherman Silver Purchase Act superseded the Bland Allison Act of 1878. The Sherman Silver Purchase Act provided that the US Government buy $4 ½ million ounces of silver each month and pay for it with Treasury certificates redeemable in gold or silver. This law was repealed in 1893. Free silver was a symbol of Liberation because they thought the gold standard was an instrument of tyranny How people viewed Silver vs Gold Silver - people's money Gold backed currency favored... the east, big banks, and the industrialists. Republican platform opposed... opposed the free coinage of silver except by agreement with the leading commercial nations (which everyone realized was unlikely). William Jennings Bryan congressman, well known orator. Defended free silver in "Cross of Gold" speech. Nominated for President (youngest nominee). Hailed as Great Commoner. Symbol of a rural, Protestant, middle class America Cross of Gold speech Made by William Jennings Bryan at the Democratic National Convention. Defends use of free silver. Makes Biblical references which was aimed to represent the oppression the gold standard imposed on the working people The DNC voted to adopt ... a pro silver platform
Problems that faced the Populist party w. the upcoming election Did they want to name their own candidate and split the vote? Or endorse Bryan ad lose their identity as a party? Eventually agreed to support Bryan Bryans campaigning technique Very active and involved. Appeared in many villages and towns etc to say he wanted to be president, why he should be elected
etc. This antagonized many voters who considered his campaign undignified. This was because before, candidates didn't actively try to persuade voters. They let their political operatives do it but other than that, they stayed relatively distant from that scene. After the conservative victory, what happened to the Populist Party It dissolved Students also viewedChapter 1425 terms Emma_Wingard4 The Populist Party - Online US History14 terms GabrielR0 4.12 Taking on Power Quiz17 terms Emily9731 1.10 Quiz: Demanding a Voice12 terms hakunahmatata40150 Sets found in the same folderKaplan AP US History - Overview168 terms KaplanTestPrep AP US History Chapter 27 :)103 terms culpepperh27 Reconstruction Era (1865 - 1877)71 terms supah AP US History: The Progressive Era95 terms Travis_Williams5 Other sets by this creatorFinancial Modeling Exam 160 terms kristengil Marketing Final34 terms kristengil Marketing Final33 terms kristengil Turn of the Century, WWI, Modernism Etc Literature36 terms kristengil Verified questionseconomics Distinguish between the individual the market supply curve. Verified answer
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