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Helping or Hurting Farmers?
Transcript of Helping or Hurting Farmers?
Railroad The Transcontinental Railroad was the first railroad that stretched from one side of the country to the other. Its construction met at Promontory Point, Utah. High Railroad Shipping Costs Although the new railroad was very beneficial to Americans, it also became expensive. After its completion, the transcontinental railroad soon had very high shipping prices. http://www.massrealestatelawblog.com/wp-content/uploads/2009/10/homestead-stamp.JPG http://www.tcrr.com/locomotive-New-York.jpg http://www.theworldwonders.com/industrial/railroad.jpg Farmers, Alliances, and Granges The farmers began to believe they were being overcharged by the railroad companies, so they began to work together to form farmer's alliances, and started working together to improve their financial conditions by fighting the powerful railroads industry http://bothell.futz.us/Family/Story_By_Ear/Assets/images/GrangeNewsIssue.gif The Populist Movement The Populist party represented the common man. The party supported “free silver”, government regulation of industry, a graduated income tax, and direct election of U.S. Senators. http://www.nebraskastudies.org/0600/frameset_reset.html?http://www.nebraskastudies.org/0600/stories/0601_0300.html Bimetallism Bimetallism is the monetary use of two metals (gold & silver). William Jennings Bryan, Democratic nominee in the 1896 election, supported bimetallism, and made his famous speech "Cross of Gold" on his support of bimetallism. William Jennings
Bryan http://law2.umkc.edu/faculty/projects/ftrials/scopes/bryanw.htm Interstate Commerce Act How Farmers Were
Affected The Homestead Act helped farmers, because it gave them free land to farm on, so everything they farmed on that land would have been pure profit. How It Affected Farmers The Transcontinental Railroad made it easier to transport people out west and also made it more efficient to transport crops, grains, and cattle from the west to the eastern city markets, benefitting farmers. How It Affected Farmers These expensive shipping costs hurt farmers greatly and caused them to borrow even more from the bank, and many eventually faced bankruptcy How It Affected Farmers These granges, as they were called, allowed farmers to pool their resources in order to purchase machinery and supplies. The granges also allowed farmers to cooperatively sell their farming products more cost-effectively. How It Affected Farmers The Populist Party favored both the farmers and the working classes of the northeast. They supported raising prices and easing the burden on farmers How It Affected Farmers Farmers supported bimetallism because more money would be in circulation. Then, they would have more money and could pay off their severe debts. In 1887 Congress passed the Interstate Commerce Act that provided for the creation of the Interstate Commerce Commission to regulate railroad rates, among other things. The act was eventually signed into law by President Grover Cleveland. http://www.dipity.com/mgalla/Regulation-and-Deregulation/ How It Affected Farmers The Interstate Commerce Act targeted railroad abuse and discrimination. Shipping rates had to be "reasonable and just", rates had to be published, secret rebates were outlawed, and price discrimination against small markets (farmers) was made illegal, which helped the farmers.