The Farmers' Alliance was an American an anti-secret, national organization of agriculturists for mutual improvement and furtherance of political ends. It was founded in New York in 1873 and spread rapidly westward. Alliances were at first State organizations. The national organization was completed in 1889 with the Agricultural Wheel under the name of National Farmers Alliance and Industrial Union. Annual conventions were held at different places, the most noted at Ocala in 1890. The Alliance was opposed to national banks, the alien ownership of land, special privileges and Federal election laws. Research Farmers Alliance
The Ocala Platform of the Farmers' Alliance congress was an American 19th century political group formed on December the 8th, 1890. It demanded the abolition of national banks; the establishment of sub-treasuries which should lend money directly to the people at low rates of interest; free coinage of silver; low tariff; the prohibition of alien ownership of land, and a graduated income tax. The group were so called from the place of meeting, Ocala, Florida. Research Ocala Platform
National banks are American commercial banks established by federal charter, which requires them to be members of the Federal Reserve System. The free banking system of the State of New York in 1838 gave all parties freedom to establish banks, and required securities to be deposited with the State for bank issues. In December, 1861, Secretary Chase recommended to Congress a similar system of national banks. He repeated this recommendation in 1862. The Act of February the 25th, 1863, authorized the free formation of banks, entitled to issue notes to the amount of ninety per cent of the par value of the United States bonds which each bank deposited with the Treasury Department. The system was to be supervised by an official called the comptroller of the currency. $300,000,000 of bank notes in all might be issued. A revised act was passed on June the 3rd, 1864. The Act of 1865 taxing State bank notes forced most of these to become national banks. The Act of 1870 increased the total amount of issue to $354,000,000. The system greatly benefited the Government in the placing of its bonds, and gave the country a superior system of banking, the Government guaranteeing the notes. By the end of the 19th century there were nearly 4000 national banks, with capital amounting to nearly $700,000,000, and deposits aggregating nearly $1,800,000,000. Research National banks
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Abbreviations
Research Farmers Alliance
