Chapter 14 Section 4 – Flashcards
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Populism
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a belief in the power of regular people, and in their right to have control over their government rather than a small group of political insiders or a wealthy elite.
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Money Supply
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the total amount of money in circulation or in existence in a country
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Inflation
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a general increase in prices and fall in the purchasing value of money
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Deflation
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reduction of the general level of prices in an economy
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Tariff
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a tax or duty to be paid on a particular class of imports or exports
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Monetary Supply
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the entire stock of currency and other liquid instruments in a country's economy as of a particular time
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Bimetallic Standard
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a government recognized coins composed of gold or silver as legal tender
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Free Silver
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denoting a US political movement for the free coinage of silver, especially that of the last quarter of the nineteenth centuary
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Gold Bugs
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believe that gold is still a stable source of wealth, like it was during the years of the gold standard international currency system.
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Silverites
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members of a political movement in the United States in the late-19th century that advocated that silver should continue to be a monetary standard along with gold, as authorized under the Coinage Act of 1792
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Bland-Allison Act
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also referred to as the Grand Bland Plan of 1878, was an act of United States Congress requiring the U.S Treasury to buy a certain amount of silver and put it into circulation as silver dollars
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Sherman Silver Purchase Act
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passed by the U.S Congress to supplant the Bland-Allison Act of 1878. It not only required the U.S government to purchase nearly twice as much silver as before, but also added substantially to the amount of money already in circulation
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The Grange
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a farmer's association organized in 1867. Sponsors social activities, community service, and political lobbying
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Interstate Commerce Act
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a U.S federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. The Act required that railroad rated be "reasonable and just," but did not empower the government to fix specific rates.
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Populist
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a member of adherent of a political party seeking to represent the interests of ordinary people.
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Cross of Gold Speech
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delivered by William Jennings Bryan, a former United States Representative from Nebraska, at the Democratic National Convention in Chicago on July 9, 1896. IN the address, Bryan supported bimetallism or "free silver", which he believe would bring the nation prosperity.
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Election of 1892
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The United States presidential election of 1892 was the 27th quadrennial presidential election, held on Tuesday, November 8, 1892. It witnessed a re-match of the closely contested presidential election in 1888
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Election of 1896
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The United States presidential election of November 3, 1896, saw Republican William McKinley defeated Democrat William Jennings Bryan in a campaign considered by historians to be one of the most dramatic and complex in American history.
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Rutherford B. Hayes
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the 19th president of the United States, won a controversial and fiercely disputed election against Samuel Tilden.
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Grover Cleveland
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political leader of the late nineteenth and early twentieth centuries who was president from 1885 to 1889 and again from 1893 to 1897 — the only president ever to serve nonconsecutive terms.
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Benjamin Harrison
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23rd President; he was the grandson of the 9th president, William Henry Harrison.
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James Weaver
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a member of the United States House of Representatives and two-time candidate for President of the United States. Born in Ohio, he moved to Iowa as a boy when his family claimed a homestead on the frontier
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William Jennings Bryant
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an American orator and politician from Nebraska, and a dominant force in the populist wing of the Democratic Party, standing three times as the Party's candidate for President of the United States.
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William McKinley
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the 25th President of the United States, serving from March 4, 1897, until his assassination in September 1901, six months into his second term.
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Mary Elizabeth Lease
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American lecturer, writer, and political activist. She was an advocate of the suffrage movement as well as temperance but she was best known for her work with the Populist party.
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What changes in economic policy did many farmers seek?
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Federal regulation of the railroads, money in circulation, antitrust laws, farm credit, and the creation of department of agriculture
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2. Explain the difference between a gold, a bimetallic standard, and free silver
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Gold standard used only gold, bimetallic standard consisted of gold and silver coins, and free silver was a free coinage of silver at a fixed ration
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3. What did the government do to address farmers' complaints?
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Congress has passed Roosevelt's Agricultural Adjustment Act, promising federal aid to farmers nationwide and low interest federal credit so farmers could refinance
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4. To whom did Bryan's Cross of Gold speech appeal, and why?
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It appealed to the people burdened by debt like farmers because it would have increased the money in circulation
