The Populist party was formed to support the people, particularly farmer alliances. It did not last long. It was a third party that was competing with the Republican party, and it did not have many well known supporters. Populism did not stand much of a chance in this situation.
Populists were undecided on a political strategy. Joining another, more popular party would increase their chances of winning the election, but it might risk the loss of their political identity. Populism became a third party, because while many Democrats agreed with the Populists, some hated the man who would be the vice -president and the idea of losing their own identity as a party.
There was not enough support for Populist leader William Jennings Bryan to win the election. He had no well known people spreading his beliefs as the Republican candidate did. Also, "gold bug" Democrats nominated a different candidate because of their fear of inflation, which would make their money less valuable. Most people in cities shared this fear, and so they voted against him.
Because of its third party status and lack of support, the Populist party failed. The movement was short lived, as it did not win the election. Republican candidate McKinley was elected president, and his opponents' party collapsed.
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