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POLITICAL REALIGNMENTS IN THE 1890s

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POLITICAL REALIGNMENTS IN THE 1890s America: Past and Present Chapter 20 – PowerPoint PPT presentation

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Title: POLITICAL REALIGNMENTS IN THE 1890s


1
POLITICAL REALIGNMENTS IN THE 1890s
  • America Past and Present
  • Chapter 20

2
Before we begin 1
  • Presidential elections every 4 years (1876,
    1880, 1884, 1888, 1892, 1896, 1900)
  • Senatorial elections A term is 6 years. In
    election years, about 1/3 of the seats are up for
    election.
  • House elections A term is 2 years. In election
    years, every seat is up.
  • SO, in every even year, there is an election of
    some kind happening.

3
Before we begin 2
  • Under a gold standard, a nation agrees that its
    currency can be backed up by gold. The banking
    system should be reserving enough gold to cover
    every deposit. The price of gold was set it
    didnt change with the market.
  • Using silver and gold is called bimetallism.
  • The coins are NOT made of gold or silver.
  • We are no longer on a gold standard, as of 1971.

4
Pre-1971
  • In circulation gold certificates
  • Not in circulation gold coins from the U.S. Mint


5
Politics of Stalemate
  • Who were the voters?
  • Democrats and Republicans were close to equal in
    strength. Usually the president was Republican,
    but it was rare for the Republicans to control
    Congress and the executive branch.
  • Because of close margins and a polarized
    legislative/executive (frequently), most
    politicians werent willing to risk any big moves
    or extreme positions that would alienate voters.

6
The Party Differences
  • Republicans stood for more government involvement
    and control of the economy Democrats stood for
    less control (the opposite of todays parties).
  • The Republicans passed the first-ever
    billion-dollar budget

7
The only Democrat President of the late 1800s
Grover Cleveland
  • Elected to first term in 1884, the first
    Democratic president since before the Civil War.
  • Voted out in 1888 after taking a stand against
    tariffs (Republicans accused him of not
    supporting business). In this election, the
    Republicans won control of the White House and
    Capitol Hill and began to pass a billion-dollar
    budget, the first ever.

8
Grover Cleveland continued
  • The Republicans elected in 1888 passed the
    Sherman Anti-Trust Act and the Sherman Silver
    Purchase Act
  • The billion-dollar budget was unpopular with
    voters in 1890 the House came back under
    Democratic control and in 1892 Cleveland was
    re-elected to the presidency.

9
The Panic of 1893
  • Due to overextension, railroads and subsidiary
    businesses couldnt sustain their growth (not
    enough customers).
  • Investors began selling their stocks, leading to
    several business bankruptcies.
  • The gold that investors wanted in exchange for
    their stock began to be depleted.
  • Confidence in businesses shattered, and a run on
    the stock market led stocks to plummet.
  • A severe depression followed.

10
The Depression
  • Bankruptcies
  • 25 unemployment rate
  • A drought led to food shortages
  • Anger and unrest Coxeys Army and the Pullman
    Strike
  • Cleveland, in order to rein in the gold drain,
    repealed the Silver Act. This did nothing to
    help the economys most urgent problems, and
    didnt stop the reserve from shrinking at an
    alarming rate.

11
Everybody Works but Father
  • Women and children paid lower wages, displace men
    during depression
  • Employers retain women and children after
    depression to hold down costs

12
Cleveland continued
  • Clevelands repeal of the Silver Act made him and
    the Democrats unpopular. In 1894 Republicans
    gained control of Congress again. Cleveland
    became a scapegoat for the countrys economic
    problems.

13
The Mystique of Silver
  • Free and independent coinage of silver
  • set ratio of silver to gold at 161
  • U.S. mints coin all silver offered to them
  • U.S. coins silver regardless of other nations
    policies
  • Silverites believe amount in circulation
    determines level of economic activity
  • A moral crusade for the common people

14
The Presidential Election of 1896
  • Free coinage of silver the main issue
  • boost the money supply
  • seen as solution to depression

15
The election
  • Republican Candidate William McKinley
  • Promises gold standard to restore prosperity
  • Democratic Candidate William Jennings Bryan
  • You shall not crucify mankind on a cross of
    gold.

16
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17
Campaign and Election
  • Populist party endorses Bryan
  • Bryan offers return to rural, religious U.S.
  • McKinley defends urban, industrial society
  • Election is a clear victory for McKinley, utter
    rout of Populist party
  • Populist Party declines after this.

18
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19
The McKinley Administration
  • McKinley takes office at depressions end
  • An activist president
  • Dingley Tariff raises rates to record highs
  • 1900--U.S. placed on gold standard
  • 1900--McKinley wins landslide reelection against
    William Jennings Bryan

20
Post-Civil War Presidents

Johnson and Grant Republican Nadir of presidency
Hayes Republican Compromise of 1877 ended Reconstruction
Garfield Republican Assassinated
Arthur Republican Reformed civil service, built up navy
Cleveland Democrat 1st of 2 split terms lost because (?) Republicans accused him of undermining the economy
Harrison Republican Lost because of divisions in Rep. Party
Cleveland Democrat Panic of 1893 overshadowed presidency
McKinley Republican Global expansionist assassinated in 2nd term
T. Roosevelt Republican The trust-busting president
21
Experiments in the States
  • State government commissions investigate,
    regulate railroads, factories
  • Munn v. Illinois (1877) upholds
    constitutionality of state investigations
  • Wabash case (1886) prompts establishment of
    Interstate Commerce Commission

22
The Rise of the Populist Movement
  • Discontented farmers of West and South provide
    base of support
  • Several organizations over time join/split/morph
    into the Populist Party.
  • In 1892, the Populist presidential candidate won
    over a million votes and 22 electoral votes
    (James Weaver).
  • In 1896, in a strange turn of events, the
    Populists nominated William Jennings Bryan for
    president. He had already been nominated by the
    Democrats, and the Populist nomination actually
    undermined his candidacy.

23
The Farm Problem
  • Worldwide agricultural economy causes great
    fluctuations in supply and demand
  • Farmers complaints
  • lower prices for crops (actual prosperity rising)
  • rising railroad rates (rates actually declining)
  • onerous mortgages (loans permit improvement)
  • Conditions of farmers vary by region
  • General feeling of depression, resentment

24
Selected Commodity Prices
25
Populist Party
  • For
  • Free coinage of silver
  • sub-treasury system storage of grain,
    pre-sale loans
  • Regulation of railroad companies
  • Southern Populists recruit African-Americans,
    give them influential positions

26
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27
A Decades Dramatic Changes
  • September, 1901--McKinley assassinated
  • Theodore Roosevelt becomes president
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