HIST 2112 1ST Edition Lecture 7 Outline of Last Lecture I.Politics of the Gilded Age:a.Rutherford B. Haynesb.James A. Garfieldc. Chester A. ArthurII. Pendleton Service ActIII. Republican divide is severeIV. Republicans RestoredV. Panic of 1893VI. Grange—CooperativeVII. Farmer’s Alliance and Colored Farmer’s AllianceVIII. Bland-Allison ActIX. Sherman Silver Purchase ActOutline of Current Lecture X.Mary “Yellin” LeaseXI. McKinley TarifXII. Populist Partya. Omaha PlatformXIII.Panic of 1893XIV.JP Morgan Bond SaleCurrent Lecture09/05/13: Continuation of Gilded and Progressive Era Mary “Yellin” Lease:- Lecturer and organizer for Farmer’s Alliance- Slogan: “Raise less corn, and raise more hell”- Nicknamed “Yellin” because of speeches 1890, McKinley: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.- Highest tarif ever passed (raised item prices almost 50%)- Farmers outraged- Went into afect 6 weeks before election Republicans were devastated in the polls of 1890 Political payback 1892, Populist Party:- Populist party = people’s party- Farmer’s Alliance backed populist- More than the farming’s peoples party- Nominated James B. Weaver as presidential candidate Gets 22 electoral votes-Omaha Platform (the platform of the populist party) Was geared towards farmers and non-farmers Free and unlimited coinage of silver at 16:1 Subtreasury Plano A strategy were government would provide low-cost loans to farmerso Farmers deposit crops in government warehouses and receive credit with crops serving as collateralo Helped farmers avoid bankers and credit dealers National Ownership of railroads, telegraphs, and telephone Postal Savings Banko “Bank by Mail”o Government would be bankero Since banks were failing, money was not secure in local bankso Safe, secure deposits Secret Balloto Voters were intimidated by rich (ex. workers)o So there votes would be swayedo But a secret ballot would allow voters to vote for who they want anonymouslyo Eliminated pressure and some corruption Direct Election of Senatorso Up until 1913 (by the 7TH Amendment), Senate was chosen by state legislators (not popular vote)o Old system created easy corruptiono Idea of putting power in the hands of people Initiative, Referendum, Recallo People could petitiono Forces state legislator debates (initiative)o Lead to putting a particular measure on ballot for peoples vote (referendum)o Someone who abuses offices can be recalled (recall) by a petition for a recallelection Panic of 1893:- People turn away from Republicans and Democrats- Particularly, Grover Cleveland Cleveland: “Gold Democrat” Gold Standard believer- Cleveland goes to Congress and gets Sherman Silver Purchase Act repealed Favorite piece of legislation by the populist party Thought it was contributing to lowering gold supply 1895 JP Morgan Bond Sale:- To counteract loss of gold supply- Cleveland goes to JP Morgan (the most powerful banker in US)- Persuades him into buying $65 million in bonds with gold- Puts gold in treasury- Wanted to create illusion of stability- Farmers outraged at Cleveland- 1896 Presidential election People had to choose between a candidate who believed in gold standard (Cleveland) or silver
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