Populism Flashcards
what was populism?
it was made up of farmers, working people and supporters of silver who did not benefit from laissez-faire and were bankrupt from the Depression of 1893. Opposed big business and were popular in the North West.
What did silver have to do with populism?
Wanted silver to be used in coinage alongside gold. World production of gold had decreased between 1865-1890 while silver production had increased. Sherman Silver Act (1890) passed and government had to buy 4,500,000 ounces of silver each month and use it in coinage production. Removed by President Cleveland in 1896 as it lost the trust of big businesses and threatened to undermine the economy.
What did agriculture have to do with populism?
Discontent among farmers due to falling prices of wheat and cotton and high tariffs which meant foreign markets would not buy US. This increased global competition and harvests deteriorated in the 1880s due to
poor weather.
