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The Populist Party (People's Party)
Emerged in the late 19th century, primarily representing farmers and laborers who felt marginalized by industrial capitalism and big business.
Platform of the Populist Party
Advocated for regulation of railroads and monopolies, free coinage of silver (bimetallism) to combat deflation, direct election of senators, graduated income tax, 8-hour workday, and opposition to laissez-faire policies and corporate control.
Significance of the Populist Party
Gave voice to rural and working-class Americans, influencing future progressive reforms.
William Jennings Bryan
A prominent Democrat and three-time presidential candidate who embraced many Populist ideas, especially bimetallism ('free silver').
Cross of Gold Speech
Famous speech at the 1896 Democratic National Convention, advocating against the gold standard and for silver coinage.
Legacy of William Jennings Bryan
Became a symbol of agrarian and working-class interests, though he ultimately lost the 1896 election to William McKinley.
The Gilded Age
A period of rapid industrialization, urbanization, and economic growth coupled with stark social inequality and political corruption.
Key Characteristics of the Gilded Age
Industrialization, monopolies, labor struggles, political corruption, and massive influx of immigrants from Southern and Eastern Europe.
Great Railroad Strike of 1877
Workers blocked trains in response to wage cuts by railroad companies during an economic depression, leading to violent clashes and over 100 deaths.
Homestead Strike (1892)
Workers clashed with Pinkerton guards hired by management over wage cuts and anti-union policies, resulting in a significant setback for organized labor.
Pullman Strike (1894)
Nationwide railroad strike led by the American Railway Union in response to wage cuts at the Pullman Company, resulting in violent clashes and the imprisonment of union leader Eugene Debs.
The Knights of Labor
Founded in 1869, it sought to unite all workers regardless of race or gender and aimed for an 8-hour workday, abolition of child labor, equal pay for equal work, and cooperative ownership of businesses.
Decline of the Knights of Labor
Lost influence after the Haymarket Riot of 1886.
The American Federation of Labor (AFL)
Founded in 1886 by Samuel Gompers, it focused on skilled workers and 'bread-and-butter' issues like wages, hours, and working conditions.
Tactics of the AFL
Employed collective bargaining and strikes.
Industrial Capitalism
Economic system characterized by private ownership of production, wage labor, and the pursuit of profit, dominated by figures like Rockefeller and Carnegie.
Bimetallism
Economic policy advocating the use of both gold and silver as a basis for currency, supported by Populists and William Jennings Bryan to combat deflation.
Monopoly/Trust
Large corporations that controlled entire industries, criticized for stifling competition and exploiting workers.
Laissez-Faire Economics
Policy of minimal government intervention in the economy, favored by industrialists but opposed by labor unions and Populists.
Gospel of Wealth
Philosophy espoused by Andrew Carnegie, arguing that the wealthy had a moral obligation to use their wealth for the public good.
Haymarket Riot (1886)
Violent labor protest in Chicago that discredited the labor movement and led to increased repression of unions.
Sherman Antitrust Act (1890)
Legislation aimed at curbing monopolies and restoring competition, often used against labor unions instead of trusts.
Social Darwinism
Belief that societal progress comes from competition and 'survival of the fittest,' justifying economic inequality and opposing labor reforms.
Urbanization
Rapid growth of cities due to industrialization and immigration, creating opportunities but also leading to overcrowding, poor working conditions, and labor unrest.
