Cross of Gold
Highpoint of Populism
July 9th, 1896
“The humblest citizen of all the land, when clad in the armor of a righteous cause is stronger than all the hosts of Error” William Bryan, 1896
In 1896, the Democratic Party the traditional minority party of the United States (From 1860 –1912, the only Democrat elected president was Grover Cleveland) was deeply divided over economic policy. In 1893 the country had suffered a severe depression hurting both the industrial and agrarian interests. Into this malaise came a heretofore nationally unknown candidate, William Jennings Bryan, (The Boy Orator from the Platte) who wholeheartedly endorsed the populist platform. In essence, Bryan repudiated the Conservative Democrats in proposing the use of silver in order to grow the supply of money and thereby staunch the deleterious impact of deflation. His “Cross of Gold Speech” is considered one of the greatest political speeches in American history.
“If they dare to come out in the open and defend the gold standard as a good thing, we will fight them to the uppermost. Having behind us the producing masses of this nation and the world, supported by the commercial interests, the laboring interests and the toilers everywhere, we will answer their demand for the gold standard by saying to them, ‘You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.”
These concluding lines of William Jennings Bryan acceptance speech at the Democratic Convention in Chicago, electrified the crowd. Bryan, known as the Great Commoner, sought to unify the traditional democrats with the populists, and sought an alliance of farmers with urban laborers, in order to make an effective political coalition that could defeat the Republicans and Conservative Democrats. Bryan tried to act as the conscience of the nation in opposing special privileges for favored groups. Although this three-time Democratic Candidate lost in 1896,1900, and 1908, much of the Populist political platform became law. Bryan who intuitively sensed the feelings of the common man eloquently articulated their thoughts.
From 1870 through the early years of the twentieth century, deflation chronically saddled the debt-ridden farmer. That is, deflation made it more difficult to repay the loans required to run a farm. Bryan viewed advocacy of free silver as a means of achieving economic justice against conservative Northeastern creditor interests. In addition to increasing the money supply, Bryan called for tariff reform, control of the trusts, an income tax, direct elections (Senators were sill not directly elected), and legislation to oversee the railroad industry, bankers, and liberalization of the Supreme Court.
The election of 1896 was a milestone in the conflict between agrarian and industrial America. High tariffs, deflation, and trusts while helping America’s industrialization hurt the agrarian class. A populist party, consisting of both black and white activists, was the political vehicle for disgruntled farmers. One populist, Mary Lease, told farmers to “raise less corn and more hell.”
Over time, conservative forces in the South used the race card to end black and white southern alliance. White populist leaders in the South turned viciously against their former Black allies, instituting a series of Jim Crow laws. The union movement in the North failed until the 1920’s to become an effective political force. Thus, the industrialized Northeast remained primarily Republican. A coalition of workers—farmers of both races and laborers-failed to capture the presidency until the Great Depression.