Chapter 7 Key Terms Part 1

"Cross of Gold" Speech

Bryan gave this speech at the Democratic convention, which praised farmers and denounced bankers or "crucifying mankind on a cross of gold." He was supported by Democrats and Populists in the Election of 1896 because of this speech.

Election of 1892

In this election, the Populists elected five senators and received over a million votes for their Presidential candidate. Soon after, in 1893, the economy collapsed in the Depression of 1893. Populists blamed the Depression on the scarcity of currency and demanded unlimited coinage of silver to raise prices.

Election of 1896

The Democratic Party nominated William Jennings Bryan for President after he delivered a speech at the convention. Bryan gave the "Cross of Gold" speech, which praised farmers and denounced bankers or "crucifying mankind on a cross of gold." The Populist Party also supported this candidate instead of choosing their own candidate. Bryan's sense of moral outrage frightened voters, however, and he narrowly lost the election to William McKinley. William McKinley was a pro-business candidate supported by wealthy Ohio businessman Mark Hanna. This man won the Northeast and Midwest, and won the Election of 1896 against William Jennings Bryan, who won the South and West.

Third Parties

The Populist Party appeared suddenly in the 1890s and disappeared just as fast, yet it left its mark on American history. This term often has an impact on the political process. They provide a way for minorities to voice grievances and create new ideas. In this sense, the Populists were a typical movement of this term in the US. Many proposals of the Populists, such as graduated income tax and direct election of Senators, were later taken up by one of the larger political parties. If this term attracts significant numbers of voters, one of the major parties will take its ideas. The best evidence of the influence of this term is that so many of their proposals have been passed into law.

Munn v. Illinois (1877)

This Supreme Court decision said that states had the right to regulate business that affected the public interest within each state. In 1886, the Supreme reversed its decision and said that only Congress could regulate interstate trade. The businesses that affected public interests included railroads and grain storage rates.

Interstate Commerce Act

This act, passed in 1887, prohibited railroads from charging more for short hauls than for long hauls over the same route. This policy marked a change from the laissez-faire economy of the past.

Civil Service System

This gave competitive exams and selected appointees to federal jobs based on merit. It was to undermine the Spoils System.

Capitalism

This is the other word for Free Enterprise System.

Anti-Defamation League

This was a Jewish organization that opposed religious prejudice.

Hull House

This was a famous settlement house founded by Jane Adams in Chicago in 1889.

Interstate Commerce Commission

This was created to investigate complaints and to reinforce the Interstate Commerce Act. It was the first government agency to regulate unfair business practices. This policy marked a change from the laissez-faire economy of the past.

Grange Movement

This was founded in 1867. It originally was created to be a social club for farmers in order to help them overcome rural isolation and to spread information about new farming techniques. The Grangers had a million and a half members and began urging economic and political reforms within ten years.

Populist Party

This was from 1891-1896. In 1892, farmers gave their support to this in the battle against banking and railroad interests. This was a new national political party that represented farmers, industrial workers, and miners, or the "common man." Women played a prominent role in this political party as speakers and organizers. It had strong support in the South, Northwest, and Mountain states.

Granger Cooperatives

This was the Grangers' attempt to eliminate middlemen by forming farmers' cooperatives to buy machinery, fertilizers, and manufactured goods in large quantities at a discount. These also sold their crops directly to city markets. Due to a lack of business experience, many of these failed. The middlemen were railroad companies and grain elevators.

Election of 1900

William won this election against Bryan too, which virtually brought about the end to the Populist Party. New discoveries of gold, higher farm prices, and rural migration to the cities weakened national interest in a separate farmers' party in later years.