Monday September 19 (Notes 5.3)

[5SHELBY!]

Monday SeptemberChapter 5.3What problems did farmers face?-Railroads were charging too much.-prices of crops were falling-banks were foreclosing-good farming land was becoming scarcegreenbacks caused Inflation.Who were the Populists and what did they believe in?populism- the movement of the people.-convention was in Omaha, NE. it demanded reforms to lift the burden of debt from farmers and give the people more say in their government.-increase in money supply which caused people to pay more to the farmers-started the 8-hour work day-started a federal loan program-restrictions on immigration1892-1900became progressivesRAILROAD/panic of 1893- some railroads went bankrupt by 1893 because farmers were in debt and owed too many loans. gold was becoming more scarce so people panicked and traded their paper money for gold. there people starting to get silver and gold.THE GRANGE(1867)-An organization of farmers that wanted to push against reforms(to make changes in.).provided social outlet and education for farm families.by 1870's they spent most of their time fighting the railroadsgoals: (1)teach members how to organize. (2)set up farmers cooperatives (3)sponsor state legislation and regulate railroads.Farmers Alliances-groups of people that sympathized with farmers. sent lectures from town to town to educate other people about (loans, government control over railroad and banks.)Members grew to more then 4 million mostly in South and West.included white Southern farmers.250,000 African Americans belonged to the Colored Farmers National Alliance. Tried to promote cooperation between black and white alliances but most excepted separation.SILVER OR GOLD/major political parties became more divided: Bankers and Business owners of the industrialized Northeast were republicans. farmers and laborers of South and West were Democrats. The issue of the campaign was which metal they would use as the basis of the nations money system.One side was the "Silverites" they favored bimetallism. government would give either gold OR silver.(farmers and laborers)causes: Inflation. price of everything to go up. value of money decreases. more people have money."Gold Bugs" favored backing with only gold. (bankers and businessmen. less money in circulation. (bankers and businessmen)caused deflation: prices of everything fall, value of money increases, fewer people have money.