The People's Party, usually known as the Populist Party or simply the Populists, was an agrarian populist political party in the United States in the late 19th century. The Populist Party emerged in the early 1890s as an important force in the Southern and Western United States, but declined rapidly after the 1896 United States presidential election in which most of its natural constituency was absorbed by the Bryan wing of the Democratic Party. A rump faction of the party continued to operate into the first decade of the 20th century, but never matched the popularity of the party in the early 1890s.
The Populist Party's roots lay in the Farmers' Alliance, an agrarian movement that promoted economic action during the Gilded Age, as well as the Greenback Party, an earlier third party that had advocated fiat money. The success of Farmers' Alliance candidates in the 1890 elections, along with the conservatism of both major parties, encouraged Farmers' Alliance leaders to establish a full-fledged third party before the 1892 elections. The Ocala Demands laid out the Populist platform: collective bargaining, federal regulation of railroad rates, an expansionary monetary policy, and a Sub-Treasury Plan that required the establishment of federally controlled warehouses to aid farmers. Other Populist-endorsed measures included bimetallism, a graduated income tax, direct election of Senators, a shorter workweek, and the establishment of a postal savings system. These measures were collectively designed to curb the influence of monopolistic corporate and financial interests and empower small businesses, farmers and laborers.
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