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The Harrison AdministrationPresident Benjamin Harrison
the “Billion Dollar Congress: first time govt. budget over $1billion; gives most money to Civil War veterans
The McKinley Tariff – raises tariff to highest levels yet; causes much unrest in the South and Midwest
Labor Violence
The Homestead Strike (1892) – steel workers strike at Carnegie’s Homestead plant
Pinkertons and strikers clash
Many wounded or killedPinkertons defeated
Eventually put down by PA state militia and US military
Carnegie tainted permanently as anti-labor
Growth of Populism
Populism: a political viewpoint that places the “common man” over corporations and special interests
Made up of mostly farmers, with labor and reformers, as well
The Birth of the Populist Party
1890 – Ocala, Florida: made up of three groups
Organized labor
Farmers
Social reformers
“Raise less corn and more H-E-double toothpicks!” – Mary E. Lease
Tom WatsonWilliamPeffer
Early Success1890 - Populists win state legislatures in
several Midwestern states, sends five Senators and 12 members to the House
1892 – James B. Weaver wins over 1 million votes and 22 electoral votes
The Omaha PlatformPlatform adopted by
Populist Party for 1892 election; source for many reforms to come into the future
Proposals:
8 hour working day
govt. ownership of RRs
term limits on politicians
popular election of senators
income tax
No. 1 demand:
silver in the money supply at a 16:1 ratio to gold
The Depression of 1893Second worst in American history
Causes:
overproduction of manufactured goods
repeal of limited silver in the money supply
loss of gold reserves, causing deflation
Growing unemployment and farm foreclosures
The Depression of 1893 – 981894 – Pullman Strike: wages cut by 10%, but
rent and prices stay the same in company town of Pullman, IL
Strike turns violent
RRs workers strike in support; most rail traffic stopped
The Depression of 1893 – 98
Cleveland ends strike by sending US military
Labor leaders arrested
Eugene V. Debs
The Depression of 1893 – 98 President
Cleveland pursues laissez-faire approach; violence and protests increase
1894 – Jacob Coxey leads a march on DC; thousands join in demands for jobs
The Depression of 1893 – 981895 - J. P. Morgan and partners lend the
government $65 million in gold reserves to stabilize money supply
Weakens Cleveland politically
The Election of 1896Republicans nominate
William McKinley
Considered safe, reliable
Democrats enter convention with no clear frontrunner
Cleveland rejected by Democratic Party for 3rd term
The Election of 1896William Jennings Bryan and the “Cross of
Gold” speech
“You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.”
The Election of 1896
1/3 Populists and 2/3 Democrats merged (“fused”) to recreate the Democratic Party
More populist in ideology; endorsed Omaha Platform
Remainder of Populist Party eventually dissolved by 1908
The Election of 1896: The Candidates:
Democrat – Bryan Republican – McKinley
Gold Democrats:John Palmer
Prohibition:Joshua Levering
William Jennings Bryan3 term House member from Nebraska
Youngest man to run for president (36)
Populist in ideology, supporter of 16:1
Nominated on 5th ballot; unknown outside NE
Changed politics by campaigning personally
The Election of 1896Republican advantages:
More money
raised by Mark Hanna
Support from newspapers and big business
Opposition from conservative Democrats
The Election of 1896The media depicts Bryan as a dangerous
lunatic, or foolish dreamer; workers threatened if they vote for Bryan