Populists believed that most U.S economic problems would be solved by establishing what?  

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mkoren eNotes educator| Certified Educator

Populists believed the economic policies of the United States were hurting their supporters, mainly the farmers. They believed that the policies of a monometallic money supply, a money supply based on only gold, would adversely affect the farmers. This monometallic policy helped to control the money supply that led to lower prices, including lower prices for crops. The Populists wanted several things to be done. The main thing was to have a bimetallic money supply. The Populists believed if we had a money supply based on gold and silver, this would increase the money supply and raise the price farmers received for their crops. It also would make it easier for farmers to pay their debts. Therefore, they supported policies that would base our money supply on two metals, gold and silver.

Populists also believed that banks and the railroad companies treated them unfairly. They believed that banks charged farmers higher interest rates than they charged other groups. They also believed that the railroad companies treated them unfairly because they gave rebates to some customers but not to the farmers. The Populists believed a change in a few of our economic policies and practices, especially those related to the money supply, would help to solve their problems.

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