Final answer:
The Populist Party proposed the unlimited coinage of silver, known as 'Free Silver', to help the working class by increasing the money supply and creating inflation. Their platform included a range of reforms, but despite some success, the party struggled to attract urban workers and lost momentum after supporting William Jennings Bryan in the 1896 presidential election.
Step-by-step explanation:
Populist Party's Solutions for the Working Class:
The Populist Party's solution for helping working-class people have access to money was the unlimited coinage of silver. This principle is known as the 'Free Silver' movement. It was believed that by increasing the amount of money in circulation through the coinage of silver, it would lead to inflation which would help farmers pay off their debts easier and put more money into the pockets of the working class.
The Populist Party's platform also advocated for other reforms such as a graduated income tax, single terms for the president, an eight-hour workday, direct election of U.S. Senators, and loan programs to balance the costs of food. These measures were seen as ways to level the economic playing field and counteract the concentration of wealth among industrialists and bankers.
However, the Populist Party struggled to gain wide support from urban workers who feared that inflation could lead to increase in prices faster than wages and cause economic instability. Despite the initial setback, Populists gained a measure of success in the 1892 election, securing seats in Congress and state legislatures. The trajectory of the party saw a rise in the early 1890s but eventually waned after their support of Democratic candidate William Jennings Bryan in the 1896 presidential election, who lost to William McKinley.
The legacy of the Populist Party remained influential, as several of their policy proposals were later adopted during the Progressive Era by both Republicans and Democrats.