Populism and the Election of 1896

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So. Alliance  wanted to gain control of the Democratic Party.

No. Alliance  ran 3rd Party candidates.

1892  800 met in St. Louis, MO

majority were Alliance members.

over 100 were African Americans.

reps. of labor organizations & other reformers (Grange, Greenback Party).

Slide 13

Platform of Lunacy

Slide 14

The Populist (Peoples’) Party

Founded by James B. Weaver and Tom Watson.

Omaha, NE Convention in July, 1892.

Got almost 1 million popular votes.

Several Congressional seats won.

James B. Weaver, Presidential Candidate

& James G. Field, VP

Slide 15

Omaha Platform of 1892

System of “sub-treasuries.”

Abolition of the National Bank.

Direct election of Senators.

Govt. ownership of RRs, telephone & telegraph companies.

Government-operated postal savings banks.

Restriction of undesirable immigration.

8-hour work day for government employees.

Abolition of the Pinkerton detective agency.

Australian secret ballot.

Re-monitization of silver.

A single term for President & Vice President.

Slide 16

Govt.-Owned Companies

Slide 17

1892 Election

Slide 18

Bi-Metallism Issue

Slide 19

The Panic of 1893

Slide 20

Causes of the 1893 Panic

Begun 10 days after Cleveland took office.

Several major corps. went bankrupt.

Over 16,000 businesses disappeared.

Triggered a stock market crash.

Over-extended investments.

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

By 1895, unemployment reached 3 million.

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

Slide 21

Here Lies Prosperity

Slide 22

Written by a Farmer at the End of the 19c

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