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Populist Movement
| Term | Definition |
|---|---|
| What items encouraged the settlement of the West? | Cheap land from the Homestead Act, new railroads, technological advances like steel plows and windmills, government incentives, and the promise of economic opportunity. |
| What factors led to the economic collapse of farmers? | Falling crop prices, high railroad shipping rates, crushing debt, expensive machinery, drought, and banks charging high interest. |
| What is producerism and how did it foster populist anger? | Producerism is the belief that those who create real value (farmers, workers) should have political power. It fueled anger because producers felt exploited by bankers, railroad companies, and monopolies who profited without “producing.” |
| What monetary policies did the Populists espouse and why? | They supported free coinage of silver and expanding the money supply. Reason: More money in circulation would cause inflation that helped farmers pay off debts. |
| What does it mean that Populists believed the system was unequal? | They believed political and economic power was controlled by elites—railroads, bankers, and corporations—while ordinary farmers had no real influence. |
| What groups preceded the Populists and what did they revolve around? | The Farmers alliance who organized large-scale cooperatives and tried to create farmers' exchanges |
| What encouraged the rise of the Populists? | rural independence, economic frustration, distrust of big business, and strong belief in cooperative action. |
| What items limited the reach of the Farmers’ Alliance? | Racial segregation, regional differences, lack of unity, and reliance on local solutions. |
| How did the Farmers’ Alliance initially turn toward politics, and how did they later become more involved? | They first pressured major parties to address farmer issues. When ignored, they created their own political party — the People’s (Populist) Party. |
| What change did the Farmers’ Alliance desire | regulating railroads, lowering interest rates, establishing subtreasuries (government grain storage), expanding money supply, and ending monopolies. |
| What were the driving concepts of the Omaha Platform? | Free silver, government-owned railroads, graduated income tax, direct election of senators, and protections for farmers and workers. |
| Why did the People’s Party ultimately fail? | Democrats absorbed many of their ideas, the silver issue faded, economic conditions improved, and farmers remained regionally divided. |
| How is agrarian discontent expressed after 1896 compared to before? | Before 1896: Farmers fought alone — they formed their own party and protested loudly. After 1896: Farmers joined bigger reform movements — Progressives took many of their ideas and pushed them through mainstream politics. |