Chapter 19 – The Politics of the Gilded Age, 1877-1900

1. Chapter 19 – The Politics of the Gilded Age, 1877-1900

2. Late 19th Century Politics • From 1868 to 1896, the two political parties [Democrats and Republicans] were evenly divided and the elections were closely contested

3. Late 19th Century Republicans • Republicans dominated the White House • They counted on northern Protestants, prairie farmers, African Americans, and Union army veterans for support

4. Late 19th Century Republican Platform • Waved the “Bloody Shirt” • A campaign tactic that blamed the Democrats for the Civil War • They supported: • high tariffs [taxes on imports] • railroad construction • the spoils system • the gold standard [the value of currency is a fixed rate based on the value of gold]

5. Late 19th Century Democrats • Elected Grover Cleveland to two non-consecutive terms during this time period • The only time in history • They depended upon the Solid South [South votes Democrat from 1877-1964],immigrants, Catholics, and urban dwellers for support

6. Late 19th Century Democrat Platform • They supported: • States’ rights • low tariffs • the gold standard • the spoils system

7. A Changing Government • The Credit Mobilierand other scandals under Grant [Republican] soured the nation on politicians • Made honesty in government the dominant issue for a generation after the Civil War • After Garfield is assassinated in 1881, Congress passes the Pendleton Act [government positions based on merit via examinations] • This struck a blow to the spoils system

8. Gold Standard • Governments were looking to develop an international system of standard measure • Great Britain had long held to the Gold Standard [paper money is backed by gold] • In the 1870s-80s, the U.S., Germany, France and other countries converted to gold • Beforehand, these nations had been on a bimetallic standard: issuing both gold and silver coins

9. Crime of 1873 • The U.S. switched to the gold standard, in part, because geologists predicted the discovery of immense silver deposits [Comstock Lode], without comparable gold strikes • A massive influx of silver would have upset the long-standing ratio • Critics will later refer to this switch as the “Crime of 1873” • The U.S. treasury ceased minting silver dollars, and, over a six-year period, retired the Civil War-era greenbacks and replaced them with notes from an expanded system of national banks

10. Anti-Trust Movement • 1880s trust came under attack • Middle-class feared the trusts’ power, and old wealth resented the influence of the new rich • 1890 – Sherman Anti-Trust Act • Prohibited any “contract, combination, in the form of trust or otherwise, or conspiracy in restraint of trade or commerce” • Too vaguely worded to stop the development of trusts

11. The Populist Party [Peoples Party] • A largely farmers’ party aiming to inflate currency and to promote gov. action against railroads and trusts • It called for: • Free silver • A graduated income tax • Immigration restrictions • Direct election of the US senate • James Weaver was their candidate in the presidential election of 1892 • Garnered over one million votes and 22 electoral votes in 6 states

13. 1890s – ATumultuous Decade • The nation suffered through its deepest depression of the century • Panic of 1893 • Marked by the collapse of railroad overbuilding and shaky railroad financing • This led to a series of bank failures

14. 1890s – A Tumultuous Decade • The economic problems gave ominous meaning to the Populists’ rising power • Coxey’s Army frightened many people into believing the country was on the verge of disintegration • A protest march by unemployed workers on Washington, D.C. [1894]

15. Election of 1896 • The Democrats were discredited by the Depression of 1893 • The western wing of the party nominated William Jennings Bryanon a “free silver” platform • Even though the Populists will join this faction of Democrats, Bryan will lose the election • McKinleywins due to his well-financed campaign • Managed by Mark Hanna • The “front porch campaign”