Final answer:
The Populist Party was organized by the National Farmer's Alliance and leaders like James B. Weaver, aiming to address economic hardships faced by farmers and workers through political means, advocating for reforms such as the unlimited coinage of silver.
Step-by-step explanation:
The Populist Party, also known as the People's Party, was primarily organized by farmers who were discontent with economic hardships, such as overproduction and high tariffs that disadvantaged them. The National Farmer's Alliance, and notably figures like Leonidas L. Polk (although he died before the first convention) and later James B. Weaver as a presidential candidate, played a significant role in the formation of the party. A primary reason for organizing the Populists was to address the concerns of farmers and the working class through political means when economic reforms seemed unattainable by other routes. The Populists aimed to unify the demands of labor unions and the Farmer's Alliance in their platform.
The Populist Party sought several reforms to aid farmers and workers, such as the proposed increase of farm prices through federally financed warehouses, the establishment of a graduated income tax, and the unlimited coinage of silver, which they believed would increase the money supply and benefit the agricultural economy.