The farmer
Is Hamlin Garland short story about the farmer a tragedy with no solution? Or is there anything that they could have done, either inside the story or as a political solution to fix what happens to the main character?
Union Stock Yards, 1883
A grain elevator
Smithsonian Institution.
Inflation in the consumer price index since 1950
Deflation in the US, 1850-1900
The value of consumer purchases, 1800 to present.
Who benefits from deflation?
Winners | Losers |
---|---|
Capitalists (their money is worth more) | Debtors (they have more to pay off) |
People with fixed incomes in cash | People with income in goods (e.g., farmers ) |
Falling Commodity Prices, 1870-1895
Year | Wheat | Corn | Cotton |
---|---|---|---|
1870 | $1.06 | $0.43 | $0.15 |
1890 | $0.71 | $0.42 | $0.08 |
1895 | $0.65 | $0.30 | $0.06 |
The Farmers' Alliance
Mary E Lease.
"Wall Street owns the country. It is no longer a government of the people, by the people, and for the people, but a government of Wall Street, by Wall Street, and for Wall Street. The great common people of this country are slaves, and monopoly is the master. The West and South are bound and prostrate before the manufacturing East. Money rules, and our Vice-President is a London banker"
Charles Macune.
Omaha Platform (1892)
Populist votes in the 1892 election
The free silver movement is a fake. Free silver is the cow-bird of the reform movement. It waited until the nest had been built by the sacrifices and labor of others, and then it lay its own eggs in it, pushing out the others which lie smashed on the ground. Henry Demarest Lloyd, journalist and reform leader.
The Crisis of the 1890s