Populists (Lecture Notes from 11/2 and 11/3)

Farmers' Problems:

• High tariff -> retaliatory tariffs (foreign)
• Railroad - charged farmers (who barely used it) more
• Banks charged farmers with higher interest rates (because they were high risks)
• Deflation (farmers wanted inflation!)
• Mechanization -> specialization in one crop

The Grange (The National Grange of the Patrons of Husbandry):

• Established 1867 - Oliver H. Kelley - farmer social activity
• Grangers established cooperatively owned stores, grain elevators, and warehouses.
• Granger Law: state law that regulated railroad rates. Mann vs. Illinois 1877 ruled Granger Laws constitutional. Wabash Railroad vs. Illinois 1886 - states can't regulate interstate commerce (defeated Granger laws)
• Interstate Commerce Act 1887 - Forms interstate commerce commission - first law where federal government regulates big business.

Farmers' Alliances:

• White and black ones.
• Co-ops: pooled money, bought farm machinery, and shared it.

Populist Party

• 1880s. Farmers' party - first significant 3rd party. Western and Southern farmers thought that government was in favor of wealthy
• Beliefs:

1. Wanted more money in circulation. Want inflation - silver standard. (never happened)
2. Graduated income tax (more you make, the more you pay - 16th amendment through 1913)
3. Government ownership of railroad, telegraph, telephone (never happened)
4. Secret ballot (Australian ballot) - all parties and offices appear on one ballot
5. Direct election of US Senators (17th amendment through 1913)
6. Immigration restrictions
7. Initiative and referendum (state legislatures address petitions)

• Absorbed by Democrats (had a chance in election of 1896, but Bryan lost to McKinley)