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HistB Ch5-3

Farmers and the Populist Movement

QuestionAnswer
Why were the farmers trapped in an economic cycle? Crop prices were falling, their farms were mortgaged, railroads were taking advantage of farmers.
What were greenbacks? Paper money the government issued after the Civil War that could not be exchanged for silver or gold money. Basically worthless money.
How were the railroads affecting the farmers? They charged high transport rates and also railroad made secret agreements with "middlemen" that allowed them to control the grain storage prices.
Who started the "Patrons of Husbandry"? Oliver Hudson Kelley
What is "Populism"? The movement of the people or "Peoples Party"
What were the causes of the Panic of 1893? Farmers were overextended with debts and loans; and the railroad construction had expanded faster than markets. Also the governments gold supply had word thin.
Created by: imhangen
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