history lessons 78 and 79

Question 1

what groups generally supported each of the two leading political parties?

Answer 1

republicans- wealthy industrialists, MW farmers, blacks, union war vets

democrats- southern whites and businessmen, immigrants, small farmers

Question 2

what was the main interest of the government during the late 1800s?

Answer 2

promoting and growing businesses

Question 3

what group felt left out during this time?

Answer 3

farmers

Question 4

what were some of the difficulties that farmers faced?

Answer 4

opponents like bankers, millers, railroad companies, getting loans, tariffs, weather, locusts

Question 5

what problems existed with organizing farmers?

Answer 5

farmers are independent and spread out

Question 6

what was the first national organization specifically for farmers?

Answer 6

the grange

Question 7

what were the later groups formed for farmers called?

Answer 7

farmers alliance

Question 8

the political party organized by farmers was called what?

Answer 8

populist party- leader was mary e. lease

Question 9

what did the populist party want to see happen?

Answer 9

1. unlimited coinage silver
2. immigrant restricts
3. gov. owns railroads
4. telephone/graph system
5. electoral reform
6. shorter hours

Question 10

what were the populists parties accomplishments in the 1890 and 1892 elections?

Answer 10

congressional seats, 3 governorships and 1500 seats in state legislatures

Question 11

what was the problem with state banks?

Answer 11

state regulations varied, so the worth and reliability of the banks and their notes varied as well

Question 12

what were the restrictions felt under a hard money policy?

Answer 12

didnt allow enough money in the economy to encourage business and facilitate growth, gold supply was unpredictable

Question 13

what kind of banks did the national bank act of 1863 authorize?

Answer 13

chartering of federal banks

Question 14

what was the ratio of silver to gold used in minting coins?

Answer 14

16:1

Question 15

what is the term for using both silver and gold?

Answer 15

bimetallism

Question 16

what problem was developed with US gold?

Answer 16

the gold reserve was running low, the danger was that paper money might not be able to be redeemed in gold as promised

Question 17

how was the problem with US gold resolved?

Answer 17

a group of bankers agreed to buy US bonds w/ gold to try and stop the flow of gold oversees

Question 18

how many different types of money were there before the civil war?

Answer 18

8k

Question 19

describe the panic of 1893.

Answer 19

1. farmers in debt
2. railroads go bankrupt
3. gov’t wears thin of gold
4. stock market crashes
5. 15k businesses and 500 banks collapse

Question 20

describe bimetallism.

Answer 20

1. farmers and laborers
2. silverites
3. gov. gives gold and silver in exchange for paper currency
4. products sold at higher prices
5. inflation (prices rise, value of money decreases, more people have $)

Question 21

describe gold standard.

Answer 21

1. bankers and businessmen
2. gold bugs
3. backing dollars solely with gold
4. loans repaid in stable money
5. deflation (prices fall, value of money increases, less people have $)

Question 22

describe the gilded age.

Answer 22

everyone wanted to get rich by being dishonest

Question 23

how did the dawes act affect native americans?

Answer 23

1. regulated land rights on tribal territories within the United States
2. only the native americans who accepted the division of the tribal lands were allowed to become US citizens
3. gov stripped over 90 mil acres of land from native americans

Question 24

what was the grange?

Answer 24

1. first organization for farmers
2. 1.5 mil people by 1874
3. welcomed women
4. founded in texas

Question 25

what is the greenback party

Answer 25

1. formed in mid 1870s
2. begun by east laborers
3. 15 greenback congressmen elected in 1878