What led to the rise of the Populist movement, and what effect did it have?

At the end of the 19th century, the economy was controled by a number of trusts which controled for instance the railways. Due to their share of the market, they could impose the prices they wanted.

The gold standard created deflation which reduced the income of farmers by reducing the prices of their crops. Their loans were thus made more expensive.

William Jennings Bryan is the man who ran for the Populists in the 1896 presidential campaign, in his famous speech "Cross of Gold" in his hometown of Omaha he ferociously denounces the gold standard which ruins farmers in the Midwest.

The Populist movement in the United States rose primarily due to the discontent among farmers and rural workers in the late 19th century. Several factors contributed to its rise:

1. Economic Hardship: Farmers faced significant economic challenges, including falling crop prices, high transportation costs, and mounting debt due to high-interest rates on loans.

2. Railroad Abuses: Farmers were often at the mercy of railroad companies, which charged high rates for transportation, leading to further financial strain.

3. Currency Issues: The deflationary monetary policy, based on the gold standard, resulted in decreased prices for agricultural products while maintaining high levels of debt for farmers.

4. Political Disenfranchisement: Many farmers felt that the major political parties, Democrats and Republicans, were not addressing their concerns effectively. They sought a political voice to represent their interests.

5. Organizational Efforts: Farmers and rural workers began organizing themselves into cooperative societies, alliances, and political parties to advocate for their rights and economic interests.

The Populist movement had several effects:

1. Political Influence: The Populist movement led to the creation of the People's Party (or Populist Party), which challenged the dominance of the two major parties. Populist candidates were elected to state and local offices, and they exerted influence on national politics.

2. Policy Reforms: The Populist movement influenced political agendas, leading to reforms such as the regulation of railroads, the introduction of income tax, and the adoption of silver coinage to increase the money supply.

3. Legacy of Ideas: Although the Populist Party declined in the early 20th century, many of its ideas and goals, such as government intervention in the economy and the rights of workers, continued to shape political discourse and policy debates in later years.

Overall, the Populist movement emerged as a response to the economic challenges faced by farmers and rural workers and had a significant impact on American politics and policy during its peak in the late 19th century.