Poli%cal Change of the Late 1800’s Poli%cal Landscape 1865-­‐1896 •  Party Pla>orms –  Democrats = state’s rights and limited govt. –  Republicans see govt. as agent to promote moral progress and material wealth –  Federal influence wanes, state control rises •  Presidents – 
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Rutherford Hayes (R) James Garfield (R) Chester Arthur (R) Grover Cleveland (D) Benjamin Harrison (R) Depression & Uprising •  Economic Crisis of the 1890’s –  Railroads overbuilt, companies grew beyond their markets, farms and businesses went deeply in debt •  Panic of 1893 –  February, 1893: Panic on NY Stock Exchange = “Sell off” –  May, 1893: 2 million workers jobless –  1894: Corn crop fails –  1894: “Coxey’s Army” to Washington to demand relief •  Labor Unrest & Tragedy – 
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Haymarket Affair Homestead Strike Pullman Car Strike Triangle Factory Fire The Populist Movement •  Discontented farmers of West and South provide base of support •  Farmers’ complaints – 
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Lower prices for crops (although purchasing power rising) Rising railroad rates (rates actually declining) Onerous mortgages (loans permit produc%on expansion) •  Silver vs. Gold Standard –  Gold = More Stable –  Silver = More circula%on The Elec%on of 1896 •  William McKinley (R) –  Promised gold standard to restore prosperity •  William Jennings Bryan (D) –  Free silver promised in "Cross of Gold" speech / Populist endorsed •  Pla>orm –  Bryan offered return to rural, religious U.S. –  McKinley defended urban, industrial society –  Free coinage of silver the main issue •  Elec%on was a clear victory for McKinley, ujer rout of Populist party Presidency of William McKinley •  McKinley took office at depression’s end •  Ac%vist president –  Dingley Tariff raised rates to record highs –  1900: U.S. placed on gold standard •  1900: Wins reelec%on again against Bryan –  September, 1901: McKinley assassinated –  Theodore Roosevelt became president