6:4● Populism

● Political movement started by farmers● High tariffs (taxes) and lower prices created

economic stress on farmers● Banks and railroads were the 'enemy'

6:4● Greenbacks

● Paper currency not backed up by gold or silver

● Inflation: decline in the value of money● Money loses value – prices rise

● Deflation: increase in the value of money● Money gains value – prices fall

6:4● Grange

● Farmers● Began “cooperatives”

● Cooperative: organizations that try to increase prices and lower costs for their members

6:4● People's Party

● Formed out of the failed “Farmer's Alliance”● “Populists” now a third party● Graduated Income Tax

– The more you earn, the more you are taxed

6:4● Election of 1896

● Populist Party nominate William Jennings Bryan● “Cross of Gold” speech● Republicans nominate William McKinley

6:4● 22nd president: Grover Cleveland● 23rd president: Benjamin Harrison● 24th president: Grover Cleveland

6:4● McKinley wins 1896 election

● William McKinley, 25th president● “Front Porch Campaign”● Populist Party declines after 1896