Essay on The Populist Party And The Socialist Party

1581 Words Dec 4th, 2016 7 Pages
The Populist Party is often referred to as the party of and for the people, and is labeled as such because it was, very candidly, founded by the common people, such as farmers and other laborers. While this party was in power, they had many ambitions and ideas that they sought to spread to others, and aspired to achieve. To understand the topic completely, one requires a general knowledge of the formation of the populist party, the elemental beliefs, goals and ideals, and how the downfall of the party came about, as this will aid in the understanding of the populist party’s want of free coinage of silver and how it would have helped debtors initially, but would have had a comprehensive and unfavorable effect on the American economy overall, if it had been passed.
In the late 1800s, there was much prosperity among the upper class, with as many as four thousand millionaires, and “Yet in the midst of all this industrial growth and production of wealth, almost ten million Americans, or about one out of eight people, lived in poverty. ” (McCarty). Crop prices were falling, and many southern and western agrarians grew discontented and discouraged as the loans that the new economic state was forcing them to take out were becoming increasingly challenging to repay. Railroads, lenders, and other corporations that farmers were required to do business with began to take advantage of this, increasing prices and interest rates, sending farmers into deeper and deeper economic…

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