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The Populist Party grew of the agrarian revolt that rose after the collapse of agriculture prices following the Panic of 1873. The Farmers' Alliance, formed in Lampasas, Texas in 1876, promoted collective economic action by farmers and achieved widespread populatrity in the South and Great Plains. The Farmers' Allliance was ultimately unable to achieve its wider economic goal of collective economic action against brokers, railroads, and merchants, and many in the movement agitated for changes in natinal policy. By the late 1880s, the Alliance had developed a political agenda that called for regulation and reform in national politics, most notably an opposition to the gold standard to counter the deflation in agricultural prices.
The movement to create a new political party out of the movement arose from the refusal of both Democrats and Republicans to take up and promote the policies advocated by the Allaince, notably in regard to the Populists' call for unlimited coinage of silverThis page is about Silver the element. For the color, see Silver Silver is a chemical element in the periodic table that has the symbol Ag ( L. Argentum and atomic number 47. A soft white lustrous transition metal, silver has the highest electrical and th. The promotion of silver as legal tenderLegal Tender is payment that cannot be refused in settlement of a debt. Legal tender is a concept that is frequently misunderstood: this is often a result of differing legal definitions in different jurisdictions. Cheques, credit cards, debit cards and si was especially favored by farmers as a means of countering the deflation of agricultural prices and allowing credit to flow more easily through the rural banking system.
The Populist Party was formed by members of the Allliance, in conjunction with the Knights of LaborThe Knights of Labor was a labor union founded in in December 1869, by a group of Philadelphia tailors led by Uriah S. Labor Day can be traced to two Knights' parades in New York City in 1882 and 1884. Structure and membership Most unions organized worker, in 1889Events January-April January 8 Herman Hollerith receives a patent for his electric tabulating machine January 22 Columbia Phonograph is formed in Washington, DC. February 11 Meiji Constitution of Japan adopted; 1st Diet convenes in 1890 January 30 ? Crown 1890Events January 2 Alice Sanger becomes the first female staffer for the U. White House. January 25 The United Mine Workers of America is founded. January 25 Nellie Bly completes her round-the-world journey in 72 days. March 1 Leon Bourgeois succeeds Ernest. The movement reached its peak in 1892Events January 1 Ellis Island begins accepting immigrants to the United States. January 14 Death of Prince Albert Victor, Duke of Clarence, second in line heir to the throne of the United Kingdom of Great Britain and Ireland. Next in line is his younger b when the party held a convention in Omaha, NebraskaOmaha, Nebraska County Douglas County, Nebraska Area Total Water 1,290. 6 kmē (498. 86% Population Total ( 2000) Density 390,007 1,301. 5/ kmē Time zone Central: UTC-6 Latitude Longitude 41°15'38" N96°0'47" W Omaha is the largest city in Nebraska. It is t and nominated candidates for the national election.
The party's platform called for the abolition of national banks, a graduated income tax, direct election of Senators, civil service reform, and a working day of eight hours. In the 1892 Presidential election, James B. Weaver received 1,027,329 votes. Weaver carried four states ( Colorado, Kansas, Idaho, and Nevada) and received electoral votes from Oregon and North Dakota as well.
The party flourished most among farmers in the Southwest and Great Plains. Opposition to the gold standard was especially strong among western farmers, who viewed the inherent scarcity of gold (and its slow movement through the banking system), as an instrument of Eastern banking interests who could force mass bankruptcies among farmers in the west by instigating "credit crunches". Many western farmers rallied around the Populist banner in the belief that "easy money" not backed by a hard mineral standard would allow credit to flow more freely through rural regions.
By 1896, the Democratic party took up many of the Populist Party's causes and the party faded from the national political scene. Democratic candidate William Jennings Bryan took up the Populist opposition to the gold standard in his famous Cross of gold speech. The nation nevertheless remained on the gold standard, a fact that some (but by no means all) economic historians blame for banking crisis during the Great Depression. The Populist position was fully vindicated in 1973 when Richard Nixon withdrew the gold backing of the U.S. currency.
Likewise, the Populist Party's call for direct election of Senators was realized in 1913 with the ratification of the Seventeenth Amendment. The party's call for civil service reform became a part of the United States Progressive Party platform.
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