Answer:
The Populist Party, also known as the People's Party, emerged in the late 19th century as a political movement in the United States. Here are the reasons for its rise before 1896 and its subsequent decline after the election of that year:
Rise of the Populist Party (before 1896):
Agrarian Distress: One of the primary reasons for the rise of the Populist Party was the widespread economic distress among American farmers, particularly in the South and Midwest. Farmers faced falling crop prices, high transportation costs, and mounting debts, leading to a sense of economic injustice.
Granger Movement and Farmer Alliances: Prior to the formation of the Populist Party, there were grassroots organizations like the Grange and Farmer Alliances that advocated for farmers' rights and economic reforms. These movements laid the groundwork for the Populist Party's rise by uniting farmers around common grievances.
Formation of the Populist Party: The Populist Party was officially formed in 1892 with the Omaha Platform, which called for policies such as the free coinage of silver, government ownership of railroads and communication systems, and direct election of senators. The party sought to address the economic and political issues facing farmers.
Election of Populist Leaders: Populist leaders like William Jennings Bryan gained prominence by advocating for the free silver movement and giving the famous "Cross of Gold" speech at the 1896 Democratic National Convention. Bryan's candidacy, with Populist support, marked the high point of the Populist Party's influence.
Decline of the Populist Party (after 1896):
Election of 1896: The Populist Party played a significant role in the election of 1896 by supporting William Jennings Bryan as the Democratic candidate. Bryan lost the election to William McKinley, and this defeat marked a turning point for the Populist Party. Many Populist supporters had pinned their hopes on Bryan's candidacy, and his loss weakened the party's momentum.
Co-optation by Major Parties: After the 1896 election, some of the Populist Party's key platform planks, such as the free coinage of silver, were adopted by the major political parties, particularly the Democratic Party. This led to the absorption of some Populist ideas into the mainstream political landscape, diminishing the party's distinctiveness.
Internal Divisions: The Populist Party experienced internal divisions and conflicts over issues like race and tactics. Some Populist leaders and factions were reluctant to support Bryan in 1896, causing further fragmentation within the party.
Changing Economic Conditions: As the U.S. economy began to recover from the depression of the 1890s, some of the economic pressures on farmers eased, reducing the urgency of the Populist movement.
By the early 1900s, the Populist Party had largely faded from national prominence, although its ideas and some of its goals had left a lasting impact on American politics.
Step-by-step explanation: