The Populist Party: The Federal Reserve System

This act was created in hope of establishing a form of economic stability establishing the Central Bank. The Federal Reserve Act has been identified as one of the most influential laws in relation to the United State’s financial system. This act called for eight to twelve regional Reserve Banks that would be owned by commercial banks and their actions would be monitored by the President. Once that was accomplished, the Federal Reserve System would become a privately owned banking system that would be ran by the public. Bankers would run the bank, but the Federal Reserve Board would monitor their actions to make sure everything went smoothly. These banks issued Federal Reserve Notes. The Federal Reserve Act was mainly put into action because the government wanted more economic

Roosevelt was re-elected president of the United States (first time elected) in 1904 partly to break up trusts and monopolies. The public was outraged for decades by the ways trusts and monopolies were cheating in business. Roosevelt felt that the US government was responsible for the falls of many legitimate businesses, because they failed to prosecute trusts and monopolies (Roosevelt 222). As president, Roosevelt pledged to protect small businesses and sue monopolies and trusts by implementing the Sherman Antitrust Act to restore honest commerce and labor conditions.

In a time, 1865 marked the end of Reconstruction of the North and the South after the Civil War. The start of the Second Industrial Revolution began with the invention of electrical power and mechanical engines. The United States expanded westward like never before with the creation of railroads, oil, and steel. The Election of 1896 marked a critical election when Republican William McKinley, United States President from 1897-1901, defeated his opponent in one of the most dramatic and complex elections in the young country’s history. Using the idea of American Imperialism, the United States aimed to spread their political, economic, and cultural control within the government over areas beyond their boundaries. It is in this context that farmers and industrial workers responded to industrialization in the Gilded Age from 1865-1900 in their own significant ways. Farmers organized the Granger Movement and Farmers Alliance to deal with industrialization. Industrial workers formed the Knights of Labor and American Federation of Labor in response to industrialization.

During Revolutionary America, two political parties came about: the Federalists and the Democratic-Republics. The Federalists believed in supported federal administration and were highly in favor of the Constitution, while the Democratic-Republicans favored the idea of extending the Revolution to everyday people. Their party names reflect their standpoints.

He passed the Federal Reserve act and was known for his speeches called the New Freedom. The New Freedom was composed of 3 reforms, the Tariff Reform, Business Reform, and Banking Reform. The Tariff Reform was to lower tariffs and replace them with taxes instead. The Business Reform was made possible through the Federal Trade Act (which he also passed), which searched out and halted illegal and unjust business practices. For the Banking Reform, modeled after the Federal Reserve Act, made it possible for farmers to make a living by creating Farm Loan Banks.

Baseball is one of the most defining qualities about our country, it is the embodiment of who we are. Gerald Early, an American culture critic, once said, “There are only three things that America will be remembered for 2000 years from now when they study this civilization: The Constitution, Jazz music, and Baseball. These are the 3 most beautiful things this culture's ever created.” This quote is not just an accurate prediction, but could be said to be true know. All three: the constitution, jazz, and baseball are talked about now by historians. While still an opinion, baseball is beautiful, and had impacted the lives of Americans for generations. There are many historians that study baseball when studying U.S. history. When discussing our

The Populist movement was founded my farmers, laborers and middle class civilians that wanted government regulation in the economy, more authority in the government, educating immigrants, to prevent government corruption and high positions to be based on experience.

In a time when America was coming out of the bloodiest war that was ever fought, against themselves, The Civil War, and when America looked overseas for a new frontier with Imperialism. It is in this context that America started to grow westward with farm land and in industry with the million of workers, but America still felt growing pains. Two significant ways in which farmers and industrial workers responded to industrialization in the Gilded Age (1865-1900) were the formation of organizations to protect farmers, and the creation of labor unions and the use of strikes to protect the workers.

1. Explain why Michael Pollan finds the questions “What am I eating? And where in the world did it come from?” so difficult to answer.

In the late 19th century, the idea of progressivism began to emerge from rapid industrialization and urbanization. Muckrakers and other progressive citizens created a hunger for truth after exposing scandals and corruption within healthcare, politics, and businesses. The people of this era responded to the economic, social, and political problems that arose. Progressive presidents were elected to office to create change in America. None of those presidents, however, were nearly as progressive as Theodore Roosevelt.

How did the time period of the novel (30’s) affect how black people were treated?

The Populist Party grew out the agrarian revolt that rose because of the collapse of agriculture prices following the Panic of 1873. The Farmers Alliance was ultimately unable to achieve its wider economic goals of collective economic action against brokers, railroads, merchants, and many other movements that agitated for changes in national policy. The preamble was written by Minnesota lawyer, farmer, politician, and novelist Ignatius Donnelly. Delegates embraced the platform with great enthusiasms, and many of the specific proposals urged by the Omaha Platform.

The Owen Glass Federal Act of 1913 was made to protect the economy by setting a Federal Reserve System.  An operation that is supervised under a board in Washington D.C. They have the power to set the interest rates which is charged to the other banks by the reserve banks. The objective included of financial Danes and  availability of cash from a money reserve. Twelve federal reserve banks were created that served as depositories for the cash reserve of the banks that joined the system, 12 banks were governed by a federal reserve board whose seven members were appointed by the president. The act gave the federal reserve system the authority to print the money and set the monetary policy of the U.S.   They were also allowed to sell treasury

The Federal Reserve was formed due to financial crises which caused massive problems, not just for the bank that was falling but for all banks. The panic of one bank falling triggered a domino effect on other banks. As one bank failed people not even using that bank saw the panic and would withdraw their deposits even when their bank was not in any danger of failing. Due to the widespread panics that were causing banks to go out of business, banks were in need an emergency reserve so in times of panic. In 1907, the sever panic wreaked havoc on the banking system as the banks did not have enough supply to keep up with the demand of the withdrawals (In Plain English, n.d.). Wide spread panic in

The Grange was founded to advance methods of agriculture, as well as to promote the social and economic needs of farmers in the United States. Farmers took out loans from the banks so they could produce more product but, over production became an issue. Farmers ended up owing money to store the crops and paying the money back to the banks, but they couldn’t because they did not have the money. Then farmers were angry at banks for the loan system and railroads overcharging them because they could not afford the transportation. One thing they fought for was to lower the rate of railroads and that's what they did. The Hepburn Act was passed in