History chapter 16 section 2

Inflation

A decline in the value of money.

William Jennings Bryan

A strong supporter of silver he was the democrat nominee because he did not waffle on the silver issue.

Graduated income tax

A tax that taxed higher earnings more heavily.

What is deflation

An increase in the value of money and a decrease in the general level of prices

Which candidate style is the closest to the way modern candidates campaign?

Bryan, because of the great distance as he traveled seeking to win votes.

How did the farmers alliance try to help farmers?

By forming large cooperatives to force prices up and to make low interest loans to farmers

List the factors that contributed to the panic of 1893 and its effects on the nation.

Contributing factors: widespread railroad bankruptcies, stock market crash, bank closures; effects: unemployment rose, strikes, repeal of Sherman silver purchase act.

What economic problems caused farmers to support populism?

Deflation, falling farm prices, high tariffs, high rail shipping rates.

Why did farmers just like eastern bankers

Farmers thought that their problems were due you to a shortage of currency and that eastern bankers had pressured Congress into reducing the money supply

Why do you think it would be like to spend the winter in this type of dwelling?

It would be cold and damp.

Cooperatives

Marketing organizations that worked for the benefit of their members.

What were the results of the 1896 presidential campaign?

McKinley victory, and of populism.

People's party

Members of the Kansas alliance formed this also known as the populist and nominated candidates to run for Congress and state legislature.

Grange

Oliver H Kelly founded the nation's first national farm organization, the patrons of husbandry better known as the Grange.

Greenback

Paper currency that could not be exchanged for gold or silver coins.

Bimedalist

People who supported using both gold and silver as currency were called bimedalist.

What happens to the crops price and supply exceeds demand?

Prices fall.

How did the farmers alliance contribute to the rise of a new political party ?

Some alliance members wanted to form a new party to get their programs passed.

What do you think critics of Maryellen Lee's thought she should be doing rather than speaking for the People's party?

Some students might say that critics wanted her to behave like most other women.

List the issues that the Democrats endorsed in 1896 presidential election.

Supported farmers and silver as a monetary base.

What is populism

The movement to become to increase farmers political power and to work for legislation in their interest

What was the main outcome of the populist campaign in the election of 1892?

The populist candidate, James Weaver, lost the election, but he did win 22 electoral votes.

Silverites

These people believed coining silver in unlimited quantities would solve the nation's economic crisis.

Goldbugs

These people believed the American currency should be based only on gold.

Why do you think it was so important for people to rescue the organ shown in the picture?

They may have recognized that the organ was one of the very few sources of entertainment for the family.

Go Sherman Silver act of 1890

This act authorized the United States treasury to purchase 4.5 million ounces of silver per month.

How did their campaign styles work out?

William Jennings Bryant campaigned for the presidency in 1896, 1900, and 1908. He was unsuccessful all three times.