Final answer:
The Populist Party in 1892 first proposed key reforms such as free and unlimited coinage of silver, government ownership of railroads, and a graduated income tax.
Step-by-step explanation:
The political party first proposed reforms such as free and unlimited coinage of silver, government ownership of railroads, and a graduated income tax in its platform was the Populist Party in 1892. The Populist Party emerged primarily to serve the interests of the farmers and the working class, and their platform reflected a significant shift from the prevailing economic doctrines of the time. They championed issues including the regulation of railroads and the coinage of silver, which they believed would increase the money supply and benefit the agrarian sector.
Absolutely, your summary accurately captures the essence of the Populist Party's platform in 1892. The Populist Party, also known as the People's Party, indeed emerged as a political force to address the concerns of farmers and the working class in the late 19th century. Their platform, outlined in the Omaha Platform of 1892, proposed a range of reforms aimed at addressing economic inequalities. Key elements of their platform included advocating for the free and unlimited coinage of silver, government ownership of railroads, and the introduction of a graduated income tax. These proposals were driven by the Populist Party's desire to counter the perceived economic injustices faced by farmers and workers, particularly in the face of what they saw as the undue influence of big business and financial interests. The Populist movement left a lasting impact on American politics, influencing later progressive and agrarian movements.