Final answer:
The Populist Party's decision to support William Jennings Bryan in the 1896 election is contentious. While they aligned with a candidate who shared their economic perspectives, their inability to offer a distinctive platform led to a loss of momentum and eventual assimilation into the two-party system after the election.
Step-by-step explanation:
Upon reflection, it's debatable whether the Populist Party made a wise decision in supporting the Democratic Party's candidate, William Jennings Bryan, in the 1896 presidential election. The Populists had initially achieved significant success in the 1892 election, gaining legislative seats and advocating for a platform distinct from the major parties, largely focusing on the needs of farmers and laborers.
By 1896, economic issues, particularly the gold standard, were at the forefront of the national conversation. The Populists strongly supported Bryan because of his opposition to the gold standard, evidenced by his 'Cross of Gold' speech, and his advocacy of the silver standard.
Nevertheless, their alliance with the Democrats came at a cost. Bryan's loss to William McKinley marked the beginning of the end for the Populist Party on a national scale, as they struggled to differentiate themselves from the Democrats. Post-election, many of their reforms were absorbed by the major parties, diluting the Populists' impact.
Moreover, local Populist parties saw a substantial decline by 1900, integrating into the growing two-party system in America.