Final answer:
The cotton economy in Texas bolstered the populist movement and established a societal underclass through slavery, but it is not the predominant force in the modern Texas economy, and far less than 5 percent of the population is now directly connected to cotton cultivation.
Step-by-step explanation:
Regarding the cotton economy in Texas and its historical significance, the following statements can be assessed:
- It remains a driving force of the Texas economy today: While cotton continues to be an important agricultural product, it does not hold the same level of dominance in the modern diversified economy of Texas as it did in the past.
- It helped bolster the populist movement: The economic distress of small farmers, due to the challenges in the cotton industry, indeed contributed to the rise of the Populist movement, which aimed to address the concerns of rural Americans during that period.
- It established an underclass in Texas society: The historical cotton economy, reliant on slave labor, indeed contributed to a societal underclass, as the institution of slavery created profound social and economic disparities.
- About 5 percent of the Texas population now lives on cotton farms or is connected directly to cotton cultivation: This figure is likely outdated, as less of the Texas population is engaged in agriculture, with many people living in urban areas and the state's economy being more industrialized and service-oriented today.
The intertwining of cotton cultivation and slavery played a central role in defining the economic and social structures of Texas, as well as the broader American South, in the antebellum period.