populism

Question 1

monetary policy

Answer 1

relating to gaining and spending money to release more or reduce money from circulation

Question 2

federal reserve bank

Answer 2

didn’t exist in populism era
- 10 people
- hold consistent money backed in the gold standard

Question 3

fiscal policy

Answer 3

spending and taxing

Question 4

grievances

Answer 4

• freedom of speech
• land and power accumulates in capitalists
• silver devalued, devalues human labor
• political parties separate from common man

Question 5

this age coincides with…

Answer 5

reconstruction-1900s
- “gilded age”
- thinly coated with gold
- worse on the inside

Question 6

post-civil war

Answer 6

growth, population doubled to 62 million
- machines became more expensive
- farmers needed loans -> loan sharks
- interest rates and price gouging
- crop prices decreased, droughts hit, railway monopolies rose

Question 7

the grange

Answer 7

oliver kelley - for agriculture and farmers

Question 8

tariffs

Answer 8

(1) businesses like them because it protects factory jobs and helps domestic businesses
(2) farmers dislike them because machinery rose and countries retaliated with tariffs

Question 9

inflation

Answer 9

number of $ in circulation increases
more $ in circ, less scarcity
less scarcity, value decreases

aka price increases!

Question 10

deflation

Answer 10

number of $ in circulation decreases
less $ in cir, more scarcity
more scarcity, value increase

aka price decrease!

Question 11

gold bugs

Answer 11

• wanted us to shift from bimetallism to gold standard post 1873 panic
• stabilizes & curbs inflation + reduces money in circ

Question 12

silverites

Answer 12

• consists of silver men’s and western farmers interests
• called for free silver/unlimited coining t increase supply

Question 13

greenback party

Answer 13

founded in 1875, joined silveriness

Question 14

bland allison act (1878)

Answer 14

• requires govt purchases and coins silver
• passed by congress, vetoed by hayes, override congress

short-lived effects
- treasury dept. refused to buy more than minimum
- also refused to circulate what they were required to mint

Question 15

sherman silver purchase act (1890)

Answer 15

• increased amount of silver required to produce

IMPACT:
-gold reserve dwindled -> panic of 1893, causing it to get repealed from blame

Question 16

texas seed bill (1887)

Answer 16

seed grain for drought victims, vetoed by Cleveland

Question 17

interstate commerce act (1887)

Answer 17

regulated railroad prices charged to move freight between states (so that it’s proportional to distance)

Question 18

impacts of Bryan’s 3x political loss

Answer 18

(1) assassination of mckinley by czogosz who didn’t believe in presidential power
(2) lynchings in the south, murder in factories/mining towns
(3) locked gold standard into place for 35+ years
(4) no political could’ve preserved farm society forever, but Bryan’s victory would’ve helped them the most

Question 19

munn v Illinois (1877)

Answer 19

• states can regulate railways if it affects public good

Question 20

wabash railroads v. illinois (1887)

Answer 20

• states can’t regulate railroads interstate
• made special rates illegal
• set up icc

ANTI TRUST

Question 21

northern farmers alliance

Answer 21

“national farmers alliance”

Question 22

southern farmer alliance

Answer 22

very power, started in texas

Question 23

colored farmers alliance

Answer 23

garned 1/4 of a million quickly, also created later than the rest (1886 vs 1877)