Question

What did the People’s Party believe would result from the government taking control of America’s railroads and banks?

Answer 1

People's Party was critical of capitalism and thought that banks and other institutions had the potential to abuse their workers.

They believed that if the government took control over the railroads and banks,  it could prevent those institutions from abusing their workers.

Answer 2

The situation at that time was that by building railroads, companies were forcefully taking control of farmer's land, which would prevent them from being able to grow crops or earn anything. They believed that if the Government was owning railroads and banks, it could help farmers instead of just "steal from them".