The success of industrialization put agriculture and farmers on the download, allowing the corporations to overtake the farmers. Since the government itself was also pro-business during this time, they could’ve cared less about the farmers. Farmers knew that industrialization had been successful during this time, this allowed them to modernize their farming techniques. Farmers began to use new farming machinery which made growing wheat much faster and efficient. The farmers had to buy new tools such as the thresher, which was very expensive.
Farmers went to the banks to borrow money. Banks would take advantage of the farmers and raise the interest rates. This made the farmers fall into debt. Farmers began losing more and more money and were then forced their mortgages foreclosed on. Farmers became sort of like slaves to the banks. Banks eventually took away everything the farmers owned. (Doc. D) The farmers’ complaints were justified because of the bankers’ injustice toward the farmers. Bankers let them fall into debt with higher interest rates and then seized everything they owned.
Just like the bank, railroad companies also scammed farmers. The railroads regularly used rebates and drawbacks to help win the business of large shippers. This made up a loss in profits which caused an increase in the cost to smaller shippers, such as farmers. The railroads also hurt farmers because in some cases the railroad company promised the farmer a set amount price. Like The Octopus, a farmer is promised a two-cent rate for shipping and then is demanded to give five cents (Doc. H).
JACKSONIAN DEMOCRACY Earning the title King Andrew due to his full and bold use of his powers as President, Andrew Jackson A no-nonsense, rugged, and self-made man who was on his own at the age of 14, Jackson was not slow to begin making changes and setting goals, which he thought was best for the country. He immediately began by appointing Cabinet positions to those he felt had made his election ...
he farmers were just taken advantage of and that action was not justified. The farmer lost three more cents than expected and might cause him to fall into debt. After ripping-off the farmers, the railroad companies tried to justify their actions. George Parker testified that if local and cross-country shippers are not charged the same amount, the company will go bankrupt (Doc G).
They tried justifying this practice by asserting that if they didn’t give rebates, they wouldn’t make enough profit to stay in business.
The farmers were still justified in their complaints because it seriously wounded their profit by taking away that extra three cents, which could easily send a farmer into debt. The populist idea about free silver did not satisfy many people in the government and the economy, such as William McKinley. In his acceptance speech, McKinley states that free silver would not change anything. He believed that if the currency was based on silver; the hours, nor the pay or labor would become easier. It would not make farming more successful or more of a failure.
He said that free silver would not be the solution to any of the farmers’ problems (Doc. B).
However this opinion by William McKinley is not justified because it’s just an excuse to cover up the downfall that would be caused to big businesses if free silver would be used. Also since McKinley was a Republican and the Republican Party was pro-business and supported the currency of gold, they wouldn’t want to hurt the big businesses and instead help the farmers be released from debt. As time went on, the American farmers found it harder and harder to live happily.
Crops such as cotton and wheat were selling at prices so low that it was nearly impossible for farmers to make a profit off them. Furthermore, improvement in transportation made it easier for foreign competition to gain an advantage, making it harder for American farmers to dispose of extra crops that had accumulated. Many railroads offered rebates and drawbacks to larger shippers who used their rails. Banks also increased their interest rates and took advantage of the farmers. With all of these setbacks and opposition, the farmers were justified to complain.
... done to check deflation. William McKinley, in his 1896 acceptance speech, said, Free silver would not mean that silver dollars were to be freely ... must use this practice to make a profit, the farmers were justified in complaining, for they were seriously injured by it. ... operating expense of this road… requires a certain volume of business to meet these fixed expenses… . in some seasons of ...