Agricultural Surplus - Overproduction of crops led to lower crop prices, which meant that farmers earned less money
Business Monopolies - companies without competition usually by railroad companies and grain elevators
Farmers Alliance - a regional political association formed by some farmers (Grange) in the Northwest and the South. Proposed regulation of railroads and the introduction of an income tax
Granger Laws - laws passed by state legislatures who were elected by farmers (Grangers) to regulate railroads and grain storage rates because they blamed railroad companies for their problems
Government Regulation - government laws that control how a business can operate
For example: the Interstate Commerce Act of 1887 prohibited giving different rates to different customers for hauling freight the same distance
Supreme Court Case: Munn v. Illinois & Wabash v. Illinois
Cross of Gold - Speech by William Jennings Bryan (a Populist candidate) chosen by the Democratic Party in 1896. Speech focused on exalting farmers and denouncing banking interests for attempting to "crucify mankind upon a cross of gold"
Grange - National Association of farmer's social clubs organized by Oliver Hudson Kelley in 1867 to help with rural isolation of farmers and to share information on farming techniques
Populism - Refers to the beliefs that the "people" or ordinary citizens rather than elite
New political party formed a new national party "the People's Party" or the Populist Party
Believed that bankers were using their control of government to restrict the money supply so that their own gold would become even more valuable
Supported direct election of senators, income taxes, eight-hour workday, and restriction on immigration