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One of the Populist Party’s difficulties was gaining support.  The majority of their support came from the North and the South.  Many people in the West and East supported Mckinley, who supported the gold standard.  William Jennings Bryan was a populist supporter and ran for president in 1896.  The Good Witch of the North symbolizes William Jennings Bryan’s supporters of the North and Northeast.  In the book, The Good Witch of the North was kind and gentle.  Although she was not as strong as the Wicked Witch of the East, she helped protect Dorothy and the munchkins.  This is symbolizing how the populist supporters (Good Witch of the North) are kind, helpful, and protective.  The Good Witch of the North stood for Bryan’s populist supporters.

http://tdl.org/txlor-dspace/bitstream/handle/2249.3/204/09_pplst_prty.htm?sequence=5

http://www.themoneymasters.com/the-wonderful-wizard-of-oz-a-monetary-reformers-brief-symbol-glossary/

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One reform supported by the Populist Party was an increased money supply.  The way they would do this was by bimetallism, having gold and silver in the currency.  Although the slippers were red in the movie, they were actually silver in the book.    The silver slippers were a symbol of overcoming a purely gold standard with the limitation of money supply and banker control.  The silver slippers were the only way Dorothy could get back home in the book, they were extremely important.  Dorothy did not realize she had the slippers the entire book, or the “westerners” did not realize the potential silver had as a currency.  The silver slippers stood for bimetallism.

https://en.wikipedia.org/wiki/Political_interpretations_of_The_Wonderful_Wizard_of_Oz

http://tdl.org/txlor-dspace/bitstream/handle/2249.3/204/09_pplst_prty.htm?sequence=5

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The Tin Man represents industrial workers of this time period.  It is specifically referring to American steel industrial workers.  In the Wizard of Oz, the Tin Man has been replaced by metal parts, needs oil, and can not do anything without this oil.  This is a metaphor for the industrial workers being dehumanized, needing money, and being nothing without money.  One desired reform appealing to the industrial workers was an eight hour workday.  Although they supported that, many labor unions did not align themselves with the populist party because of the free silver reform.  Workers did not want the inflation and high prices that free silver might bring.

http://tdl.org/txlor-dspace/bitstream/handle/2249.3/204/09_pplst_prty.htm?sequence=5

http://www.themoneymasters.com/the-wonderful-wizard-of-oz-a-monetary-reformers-brief-symbol-glossary/