Embedded Files
Political Stalemate
The political landscape of the Gilded Age was characterized by a period of stalemate and inactivity, with neither party addressing the pressing issues arising from industrial growth and urbanization.
Election campaigns were marked by high voter turnout, but politics focused more on party loyalty and patronage rather than substantive issues.
Republicans maintained strength in the North, relying on memories of the Civil War, while Democrats found support in the South and among urban immigrants.
Rise of the Populists
The Populist Party emerged in the 1890s from agrarian discontent in the West and South, aiming to address the economic concerns of farmers and laborers.
Omaha Platform
The Populists’ Omaha Platform called for political and economic reforms, including:
Direct election of U.S. senators.
Initiatives and referendums for direct voting on laws.
Unlimited coinage of silver to increase the money supply.
A graduated income tax.
Government ownership of railroads, telegraphs, and telephones.
Loans and federal warehouses for farmers.
An eight-hour workday for industrial workers.
Election of 1892
Populist candidate James Weaver won over 1 million votes and
22 electoral votes but failed to attract significant support in urban
areas and the South.Grover Cleveland won the presidency, becoming the first president to serve two non-consecutive terms.
Panic of 1893
The stock market crash of 1893 led to a severe economic depression, with high unemployment and widespread foreclosures.
President Cleveland’s adherence to the gold standard and limited government intervention worsened the economic situation.
Gold Reserve and Pullman Strike
To support the gold standard, Cleveland repealed the Sherman Silver Purchase Act and borrowed $65 million in gold from J.P. Morgan, leading to public distrust.
The Pullman Strike of 1894 saw federal intervention to suppress labor unrest, further alienating workers.
Tariff Reform and Income Tax
The Wilson-Gorman Tariff of 1894 lowered tariffs and included a 2% income tax on high incomes, though the Supreme Court later ruled the income tax unconstitutional.
Jobless on the March
Jacob Coxey led "Coxey’s Army" to Washington in 1894, demanding public works jobs. The movement ended in arrests and dispersal, showing the desperation of the unemployed.
William Jennings Bryan’s Rise
William Jennings Bryan gained prominence with his "Cross of Gold" speech advocating for the unlimited coinage of silver.
Bryan’s charisma and advocacy for free silver won him the Democratic nomination and Populist support in 1896.
McKinley and the Gold Standard
Republican candidate William McKinley supported high tariffs and the gold standard, securing business support.
McKinley’s campaign, managed by Mark Hanna, effectively used media and funding to win the election.
Election of 1896 and McKinley’s Presidency
McKinley won decisively, marking a shift to Republican dominance and the triumph of urban and industrial interests.
McKinley’s presidency saw economic recovery and a strengthening of the gold standard, setting the stage for the United States’ emergence as a world power.
Google Sites
Report abuse