Final answer:
The demands of the late 1800s Populist Party, including the regulation of railroad shipping charges, graduated income tax, and free coinage of silver, were primarily focused on the needs of small farmers seeking affordable credit and financial relief.
Step-by-step explanation:
The demands for regulation of railroad shipping charges, a graduated income tax, and free and unlimited coinage of silver most reflected the concerns of small farmers in need of affordable credit. These issues rose to prominence in the late 1800s due to the economic hardships faced by farmers, who were significantly affected by monetary policies, tariffs, and transportation costs. The Populist Party, which was established by these farmers and other working-class individuals, specifically addressed these concerns in their platform, advocating for measures that would ease their financial burden and put more money into circulation to benefit both farmers and the general working class.
The Populist Party's push for a more flexible monetary system, involving the free coinage of silver, stemmed from the constraint of the money supply under the strict gold standard. They believed that using both gold and silver for currency (bimetallism) would create inflationary pressure, increasing farm prices and allowing farmers to earn more and pay off their debts. Additionally, the regulation of railroad charges was crucial for farmers who were at the mercy of monopolistic railroad companies for transporting their goods. The graduated income tax aimed to reduce the tax burden on poorer citizens while increasing it on the wealthiest, helping to redistribute wealth more fairly.
The plight of these small farmers and working-class individuals during this period was a significant factor in the development of the Populist movement, which sought relief by addressing the economic and political challenges of the time through proposed legislation and reform.