• The Populist Party Demands Reforms• Sherman Silver Purchase Act of 1890: authorized the U.S.

Treasury to buy 4.5 million ounces of silver a month, put more money into circulation in an attempt to help farmers

– The South Turns to Populism• Many Southern Democrats move to Populist Party• Marion Butler- Populist Party Member

– A Populist for President• James B. Weaver

– Graduated income tax: taxation of higher earnings more heavily– Government ownership of railroads

– The Panic of 1893: Economic Crisis• Stock Market on Wall Street Crash• Banks closed• Economic Depression

• The Election of 1896• William Jennings Bryan

– Supported the minting of silver

– *Also known as prosecutor in the “Scopes Monkey Trial”

– Bryan’s Campaign• 600 speeches in 14 weeks

• Republicans nominate William McKinley as the man who could beat Bryan

• “Cross of Gold” Speech

1896

– The Front Porch Campaign• William McKinley spoke only at his Canton, Ohio

home. Delegates came to see him at his home.

• Full Dinner Pan

• Unemployment would rise, wages would be cut

– Populism Declines • Depression ends

• Gold in Canada, Alaska, and South Africa increase money supply