Chapter 19

Election of 1896

William McKinley (Republican) vs William Jennings Brian (Populist & Democrat). McKinley wins and enacts the gold standard, populism dies

Grange

1870's Educated farmers, organized socialize, Formed Co-ops, Sponsored legislation in Midwest

Farmers' Alliance

1880's More political group, elected lower class men into government positions

McKinley Tariff

1890 bill calling for the highest peacetime tariff yet: 48.4 percent. It gave a bounty of two cents a pound to American sugar producers, and raised tariffs on agricultural products. The duties on manufactured goods hurt farmers financially.

Rutherford Hayes

19th president of the united states, was famous for being part of the Hayes-Tilden election in which electoral votes were contested in 4 states, most corrupt election in US history

Grover Cleveland

22nd and 24th president, Democrat, Honest and hardworking, fought corruption, vetoed hundreds of wasteful bills, achieved the Interstate Commerce Commission and civil service reform, violent suppression of strikes

Coxey's Army

A march led by "General" Jacob Coxey, a wealthy quarry owner from Ohio. led 500 unemployed men, women, and children from OH to Washington. Supported a public works program of road building.

Cross Gold Speech

A speech delivered by William Jennings Bryan at the Democratic National Convention in Chicago that occurred in 1896. Bryan supported bimetallism, or free silver, which he believed would bring the naiton prosperity. He vehemently oposed the gold standard, and famously said, "you shall not crucify mankind upon a cross of gold". The speech helped put him on as the Democratic presidential nomination. The nation since 1873 was bitterly divided on the monetary standard.

Free Silver (Bimetallism)

After the discovery of silver, several disparate factions in American politics began to agitate for the feds to allow it to be minted freely at the rate of $1 per troy ounce. As the gold standard in effect at the time valued gold at the official price of $20 per troy ounce, the result of this policy would have been a considerable increase in the money supply and resultant inflation. Miners and farmers wanted silver to be joined with gold as the currency's backbone

William Jennings Bryan

An American lawyer, statesman, and politician. He was a three-time Democratic Party nominee for President of the United States noted for his deep, commanding voice. Nominee for Populist and Democratic parties

Panic of 1893

Considered extreme depression; profits dwindled, businesses went bankrupt and slid into debt. Caused loss of business confidence. 20% of the workforce unemployed. Let to the Pullman strike.

Half-Breeds

FRACTION OF THE REPUBLICAN PARTY; led by James G Blaine; favored reform; against patronage republican reformers who supported the spoils system

Stalwarts

FRACTION OF THE REPUBLICAN PARTY; led by Roscoe Conkling; favored machine politics; support patronage a person who is loyal to their allegiance (especially in times of revolt)

Sherman Antitrust Act

First federal action against monopolies, it was signed into law by Harrison and was extensively used by Theodore Roosevelt for trust-busting prohibits contracts, combinations and conspiracies in restraint of trade.. However, it was initially misused against labor unions. southern industrialization

Colored Farmers' Alliance

More than 1 million southern black farmers organized and shared complaints with poor white farmers. By 1890 membership numbered more than 250,000. The history of racial division in the South, made it hard for white and black farmers to work together in the same org.

Gold Standard Act

Signed by McKinley in 1900 and stated that all paper money must be backed only by gold. This meant that the government had to hold large gold reserves in case people wanted to trade in their money. Also eliminated silver coins in circulation.

William McKinley

The 25th President of the US who is best known fpr winning tough elections. He supported the gold standard and high tariffs. He succeeded in forging a republican coalition that for the most part dominated national politics until the 1930s. Led the US to victory in 100 days in the Spanish-American War. Assassinated in 1901.

U.S vs E.C Knight Co.

The Supreme Court ruled that since the Knight Company's monopoly over the production of sugar had no direct effect on commerce, the company couldn't be controlled by the government. It also ruled that mining and manufacturing weren't affected by interstate commerce laws and were beyond the regulatory power of Congress.

Crime of 73

The U.S. ended the minting of silver dollars and placed the country on the gold standard.

People's Party (Populist)

They campaigned in the election of 1892; they nominated James B. Weaver as their candidate. They wanted to bring together the aggrieved workers from across the nation, but had support primarily in the West. Created graduated income tax, political reforms, and immigration restriction. Legacy: Lower class can organize and have a political impact

Cooperatives

a jointly owned commercial enterprise (usually organized by farmers or consumers) that produces and distributes goods and services and is run for the benefit of its owners

Interstate Commerce Act

compelled railroads to publish standard rates, and prohibited rebates and pools. Railroads quickly became adept at using the Act to achieve their own ends, but the Act gave the government an important means to regulate big business.

Pendleton Act

first civil service measure; required federal jobs to be appointed based of a written exam rather than patronage

Chautauquas

helped benefit adults in education. This was launched in 1874 The organizers achieved success through nationwide public lectures, often held in tents and featuring well-known speakers This movement contributed to the development of American faith in formal education

James Weaver

nominated by Populists for the 1892 election. Gained several states of electoral votes, primarily in the West.

Mary Lease

speaker for the populist party. made numerous and memorable speeches on behalf of the downtrodden farmer. She denounced the money-grubbing government and encouraged farmers to speak their discontent with the economic situation.