Final answer:
The Populist Party wanted the regulation of big corporations and the free coinage of silver, aiming to assist farmers and the working class in the late 1800s. Despite fading after the 1896 election, their ideas influenced future movements such as Progressivism.
Step-by-step explanation:
The Populist Party in late 1800s America aimed to address the challenges faced by farmers and the working class. Important aspects of their platform included the regulation of big corporations and the free coinage of silver. The latter, referred to as bimetallism, was meant to increase the money supply and aid indebted farmers by raising prices for agricultural goods, thereby countering the effects of deflation caused by the gold standard.
Moreover, the Populists supported the direct election of U.S. Senators, a policy that was eventually enshrined in the Seventeenth Amendment in 1913. Despite initial successes, including winning seats in Congress and various statewide offices, the party's influence waned after the 1896 presidential election. Their ideas, however, continued to inspire later political movements, including the Progressives, who sought to reform government and make it more responsive to the people's will.