in U.S. history, political party formed primarily to express the agrarian protest of the late 19th cent. In some states the party was known as the People's party. Formation of the Party
During the Panic of 1873 agricultural prices in the United States began to decline. The economic welfare of farmers suffered badly; many believed that the management of currency was at fault and that the government's currency policy was determined by Eastern bankers and industrialists. After attempts at independent political action failed (see Greenback party), loosely knit confederations called Farmers' Alliances were formed during the 1880s. Separate organizations were founded in the North and South, and Southern blacks organized their own alliances. The Farmers' Alliances agitated for railroad regulation, tax reform, and unlimited coinage of silver and attempted to influence the established political parties. Growth was so rapid, however, that interest in a third party began to increase; in 1891 delegates from farm and labor organizations met in Cincinnati. No decision was made to form a political party, but when the Republican and Democratic parties both straddled the currency question at the 1892 presidential conventions, a convention was held at Omaha, and the Populist party was formed (1892). Goals
The party adopted a platform calling for free coinage of silver, abolition of national banks, a subtreasury scheme or some similar system, a graduated income tax, plenty of paper money, government ownership of all forms of transportation and communication, election of Senators by direct vote of the people, non-ownership of land by foreigners, civil service reform, a working day of eight hours, postal banks, pensions, revision of the law of contracts, and reform of immigration regulations. The goal of the Populists in 1892 was no less than that of replacing the Democrats as the nation's second party by forming an alliance of the farmers of the West and...
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