Final answer:
The Populist Party argued for a graduated income tax, direct election of U.S. Senators, and various economic reforms aimed at assisting farmers and the working class in the 1890s. They emerged in response to the policies of the Republicans and Democrats and sought more government regulation and supportive economic measures for their constituency.
Step-by-step explanation:
The Populist Party, also known as the People's Party, argued for several economic reforms that were designed to support farmers and the working class in the 1890s. Their platform called for a graduated income tax, where the rich would pay more, and the reinstatement of federal income taxes with the intent that only middle and upper classes would pay, with the richest paying the highest rates. The Populists supported other measures such as the direct election of U.S. Senators, single terms for presidents, an eight-hour workday, loan programs to balance the cost of food, and the unlimited coinage of silver to increase the money supply, which they believed would benefit farmers and the working class.
The Populist Party emerged partially as a result of the dissatisfaction with the Republicans and Democrats, whom the Populists believed represented the monetary interests of bankers and wealthy corporations. They sought to establish an economic system that was more favorable to the lower and middle classes, particularly with regards to lending and prices for agricultural products. Their platform reflected ideas that sought to enhance government regulation and provide greater economic opportunities for their base, which included many farmers and workers suffering during economic downturns.