Populism

The money supply is the amount of money that circulates throughout a civilization. The government payed no attention to the smaller communities or their money supplies, making the lack of currency a big issue that helped spark the creation of the populist party.

Deflation was a big issue to the population because merchants goods would no longer be worth as much so they wouldn't make enough money for their products.

The bimetallic standard made coins of silver and gold recognized as legal currency. But in 1873, congress passed an act that got banned the use of silver coins as currency. This outraged poor towns full of silver miners and farmers because the government completely overlooked them when passing the act. The free silver movement began as an attempt to relegalize the use of silver coins as currency.

The Bland Allison act required the US Treasury to purchase a certain amount of silver and put them into the circulation of the money supply as silver dollars.

The Sherman Silver Purchase Act raised the amount of silver the government was required to purchase to put silver dollars into circulation per month.

The Grange, also known as the Patrons of Husbandry, was founded to advance agricultural technology and promote the needs of farmers, both social and economic, to the government.

The Farmers Alliance was created by members of the Populist party to reverse the effects the the Crop- Lien system that had been placed upon farmers after the civil war. They also supported the creation of an income tax to reduce profits.

The Interstate Commerce Act was created to regulate the railroad rates to make sure they would be reasonable and fair, but no specific set prices were listed.

The Populist Party's beliefs all revolved representing the common folk of the United States against the big corporations. They wanted free silver, no national banks, a surplus of paper money, pensions, and many other ideas. The populist party eventually planned to take over the Democratic Party in the two party system.

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