Thomas Watson ran for President in 1904 as a candidate for the Populist Party. The Populist Party was a short lived party that was created in 1876 by farmers protesting low agriculture prices. The Populists believed that the political system had fallen under the control of the bankers and rich businessmen and acted against the interests of ordinary people. Famous advocates like William Harvey and William Bryant Jennings sought financial reform and advocated to repeal the 1873 Congressional Act that demonitized silver. Despite much popular support, the populists were unable to compete as a third party and their influence began to decline in the 30s. Roosevelt's New Deal spelled the end of the Populist Party.