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1893-1901

1893-1901. Panic of 1893. What led up to the Panic? Sherman Silver Purchase Act U.S. gov’t would buy 4.5 million ounces/month Price of silver continued to decline Led to cutting of cost which led to violent strikes “Goldbugs” & “Silverites” Stock market is jittery

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1893-1901

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  1. 1893-1901

  2. Panic of 1893 • What led up to the Panic? • Sherman Silver Purchase Act • U.S. gov’t would buy 4.5 million ounces/month • Price of silver continued to decline • Led to cutting of cost which led to violent strikes • “Goldbugs” & “Silverites” • Stock market is jittery • Reading Railroad goes bankrupt

  3. Grover Cleveland takes office for 2nd term • Allowed investors to cash in bonds • Asked J. P. Morgan for help • Cleveland losing supporters • Probably one of the most unpopular Presidents in his 2nd term

  4. Bryan vs. McKinley • Reconstruction period is over 1896

  5. William Bryan • 35 yrs. Old • Deeply religious • Ran on silver • Blasphemer • Sublime oratory • Appealed to the farmers of the mid-west

  6. William McKinley • Mark Hanna • Associate of Rockefellers • Spokesman for moderation and flexibility • Ran on gold • Career politician • Conservative, prudent, respectable, sobriety • Appealed to big city and big business

  7. The election of 1896 • Bryan is in the lead so they thought • 14 of 15 biggest cities were controlled by Republican machines • Bryan received 6.5 million votes • McKinley received 7 million votes • 271 to 176 • Conlin J. R. (2001). The American Past: A survey of American History Sixth Edition. V II since 1865.

  8. Definitions Imperialism- • a policy of extending your rule over foreign countries 2: a political orientation that advocates imperial interests 3: any instance of aggressive extension of authority • Isolationism • the policy or doctrine of isolating one's country from the affairs of other nations by declining to enter into alliances, foreign economic commitments, international agreements, etc., seeking to devote the entire efforts of one's country to its own advancement and remain at peace by avoiding foreign entanglements and responsibilities.

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