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Unit 1 (Populism)

TermDefinition
Grange (patrons of husbandry) a group of local farmers who worked together to pool resources to combat the economic and political hardships they faced. This social group becomes the populist.
deflation increase in the value of money and decline in prices of goods and services
graft the corrupt acquisition of funds through embezzling, theft, or questionable legal methods
inflation increased prices for goods and services with a reduced value of money
long haul/ short haul railroads charging more for shorter distances than longer distances
populism movement led by farmers to fight political and economic unfairness
Wabash v. Illinois Midwestern states attempted to regulate the railroad. Ruled that individual states did not hold power to regulate interstate commerce.
Interstate Commerce Act Required railroads to publicly publish their rates, outlawed rebates, and prevented the charging more for short trips than long ones.
Omaha Platform Goals of the Populists including: graduated income tax; bimetallism and unlimited production of money; government regulation of business, 8 hour work day, and immigration control.
Panic of 1893 economic downturn occurring when the railroad industry became unstable triggering the collapse of other industries
Greenbacks Name for paper money not backed by gold or silver
Bimetallism the use of gold and silver currency to increase the supply of money in circulation
William Jennings Bryan Democratic presidential candidate in the Election of 1896 that was supported by the Populists; did not win
William McKinley Republican presidential candidate and winner in the Election of 1896 who pushed the Gold Standard
Cross of Gold Speech Delivered by William Jennings Bryan; showed his opposition to the gold standard and support of bimetallism. Famous Speech about not crucify farmers on a "Cross of Gold"
Gold Standard of 1800s U.S. wanted to standardize transactions & adopted the gold standard. It guaranteed that the government would redeem any amount of paper money for its value in gold. That meant transactions no longer had to be done with heavy gold bullion or coins.
Granger Laws Series of laws passed in western states of the United States after the American Civil War to regulate grain elevator and railroad freight rates and rebates and to address long- and short-haul discrimination and other railroad abuses against farmers.
Populist Party A U.S. political party formed in the 1890s to represent the interests of farmers and laborers. It favored free coinage of silver and other reforms and was disbanded in 1904.
Railroad Companies The rail road companies often abused the farmers, with high prices for the use of the rail-line, charging more for short hauls then long, and charging large companies less, then small time farmers.
Interstate Commerce Commission was a regulatory agency in the United States created by the Interstate Commerce Act of 1887. The agency's original purpose was to regulate railroads (and later trucking) to ensure fair rates, to eliminate rate discrimination.
secret ballots is a voting method in which a voter's choices in an election or a referendum is anonymous, forestalling attempts to influence the voter by intimidation, blackmailing, and potential vote buying.
Problems Faced by the American Farmers -weather problems -falling prices -increasing debt -dependent upon railroads -need for cheaper money
Railroad Abuses -construction graft -bribes -stock watering -unfair pricing: long haul v. short haul -use of rebates for large customers
Homestead Act Signed into law in May 1862, this act opened up settlement in the western United States, allowing any American, including freed slaves, to put in a claim for up to 160 free acres of federal land.
Oklahoma Land Giveaway This was the first land rush into the Unassigned Lands. Several counties were open for the land giveaway in the state of Oklahoma. This is also seen as the end of free land on the American Frontier.
Morrill Land Grants Gave land to establish agriculture and tech colleges. Encouraged settlement of west.
Sod Houses Houses built of sod by settlers on the Great Plains because no timber. built by cutting blocks of thick sod from the prairie soil
Fredrick Jackson Turner best known for his essay "The Significance of the Frontier in American History", whose ideas formed the Frontier Thesis. He argued that the moving western frontier shaped American democracy and the American character from the colonial era until 1890.
Created by: rfchristian