HIST 1st Edition Lecture 11 Outline of Last Lecture I Cleveland s 1st Term A G A R veteran s pensions B Land Reforms C Tariff of 1888 II Election of 1888 A Cleveland vs Harrison III Harrison A Veterans Pensions B Sherman Silver Purchase Act C Sherman Anti Trust Act IV U S vs E C Knight Company A McKinley Tariff B National Lands V Election of 1892 A Harrison vs Cleveland VI Cleveland s 2nd Term A Panic of 1893 B Repeal of Sherman Silver Purchase Act C Pullman Strike VII Coin s Financial School A J P Morgan Outline of Current Lecture I Populist Party II Populist Party Platform 1892 Current Lecture l The Populist Party was made up of very angry miners farmers and laborers During World War l and ll America needed a powerful navy The Populist Party was against this building up of the nation s army and navy so they were considered unpatriotic and disbanded ll These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute The Populist Party had 15 points in their campaign 1 Free and Unlimited Coinage of Silver and Gold at a 16 1 ratio this meant that every 16 ounces of silver is the monetary equivalent of 1 gold ounce In the 1933 Silver Act silver is coined again 2 Flexible Currency System Controlled by the Government they wanted this because they were tired of Morgan s monopoly on banking 3 Increase in Circulatory Medium of 50 person thereby lowering interest rates when this system was created they wanted 50 a person thereby lowering interest rates without getting inflation This was created with the 1913 Federal Reserve Act 4 Graduated Income Tax these workers wanted a graduated income tax which means that the poor would pay nothing and the rich would pay this tax They had to make 4 000 a year or more This was the 16th amendment in 1913 5 Creation of Subtreasury for Farm Produce for farmers their price of goods dropped so they wanted a sub treasury where they take their gods to the market have it stored there for a couple of seasons and get paid later for it when they want to get paid The 1916 Warehouse Act made this possible for them 6 Postal Savings Bank banks only operated in heavily populated areas so farmers wanted to be able to deposit money in the post office since there was one in every town In 1911 the government created this with the Postal Savings Bank Act but later in 1976 it ended as banks became more various 7 Public Ownership of Railroads Telephones and Telegraph the government does not own any of these they are all owned by private companies except in 1917 1919 and 1941 1945 when the government controls these during World War l and ll to make sure enemy propaganda does not get through 8 Prohibition of Alien Land Ownership and Reclamation of the Railroad in 1921 1924 and 1953 the government makes various immigration acts for this 9 Direct Election of Senators the Senate was set up to represent states with direct election the power goes from the states to the people The 17th amendment in 1913 made this possible 10 Prohibition of Labor Spies amongst unions there would be labor spies people who go into these Unions and see what people are saying If one of their employees wants to strike they will fire him Populists wanted this private and there were various state laws that came to protect this right 11 8 Hour Work Day laborers wanted their 12 hour work day reduced to 8 hours this would create more jobs dry up the surplus and make wages increase The Wage and Hour Act in 1937 created this 12 Initiative and Referendum if they wanted something and senators or government won t consider it because they don t think it will get them re elected someone can write a petition and get signatures so the legislature is forced to put it on the ballot 13 Secret Ballot people wanted a secret ballot because the old way of voting meant that you go to the county clerk gave them your name and then they would ask you which candidate you wanted to vote for Your boss may want you to vote for a particular person but if you voted for someone else someone overhearing your vote could tell your boss and get you fired 14 6 Year Presidential Term Limit they wanted a restricted number of terms to 6 years maximum for vice presidents who served two years as vp and then became president for four years This was later changed in 1953 to 10 years total with the ratification of the 22nd amendment 15 Immigration Restrictions they don t want immigrants coming in big waves to America and taking our jobs so in 1921 1924 and 1953 there were various immigration acts