The Emergence of Modern America and the Modern Presidential Election The Election of 1896 The Emergence of Modern America and the Modern Presidential Election

Would this person vote for Bryan or McKinley? We endured hardships, and dangers. . . We toiled in the cabin and in the field; we helped our loved ones to make the prairie blossom. . . Yet, after all our years of toil and deprivation, dangers and hardships, our homes are being taken from us by an infamous [wicked] system of mortgage foreclosure. How did it happen? The government, siding with Wall Street, broke its contracts with the people. . . . As Senator Plumb [of Kansas] tells us, “Our debts were increased, while the means to pay them [cash] was decreased.” No more millionaires, and no more paupers; no more gold kings, silver kings and oil kings, and no more little waifs of humanity starving for a crust of bread. We shall have the golden age of which Isaiah sang and the prophets have so long foretold; when the farmers shall be prosperous and happy, dwelling under their own vine and fig tree; when the laborer shall have that for which he toils. . . .When we shall have not a government of the people by capitalists, but a government of the people, by the people.” Can you guess the speaker?

Who spoke these words? Mary Lease, Populist Leader Speech to Women’s Christian Temperance Union, 1890

Objectives Identify and explain the key issues in the election. Examine the presidential candidates and their opposing views Contrast the two campaign styles of McKinley and Bryan Explain the significance of McKinley’s victory

Key issues of the time Panic of 1893- A depression caused by overproduction (p.693-4) Farmers hardships- Banks and Railroads charging sky-high fees

The Farmers themselves made financial mistakes because often their talent was knowing the land, not making business decisions.(page 618 PAGEANT) Example of farmers’ mistakes: ALL DEBT; NO EQUITY TO FINANCE EQUIPMENT! The CATCH-22 OF EFFICIENT FARM EQUIPMENT: A) CAN GREATLY INCREASE A FARMER’S YIELD…BUT… 1.) VERY EXPENSIVE AND REQUIRES BIG DEBT! *****THE BIG DEBT IS WHY THE QUESTION OF “GOLD STANDARD” VS. “FREE SILVER” WILL BE IMPORTANT. 2.)… and New Equipment allows for OVERPRODUCTION!! 3.) Better production means lower prices!

Key issues of the time The Gold Standard vs. Free Silver (Bimetallic system) Why back up paper currency with Gold? (Mckinley (R)) Would you lend someone money if when they paid you back it would be worth less than when you lent it to them? This will happen if INFLATION occurs from too much money being printed and spent. The GOLD STANDARD makes sure $$ maintains value so creditor (banker) does not get hurt.

Currency backed by Gold

..the issue of less money or more money into the economy.. The FREE SILVER side of the argument: Would you borrow money if when you paid it back it would be worth more than when you borrowed it? When a RECESSION/DEPRESSION occurs and prices come down(DEFLATION), it increases the value of money being paid back and hurts the DEBTOR. The FREE SILVER people wanted more $$ injected into economy so prices will rise and they can pay back debt with cheaper $$.

McKinley Campaign Poster- standing on a gold coin Bryan’s “Cross of Gold Speech” advocates for Free Silver

William Jennings Bryan Key Issues of the Time Populists join and influence the Democratic Party Democrats become the party of the farmer and worker Many “Bourbon” Democrats leave the party for the more pro- business Republican Party Grover Cleveland “Bourbon Democrat” William Jennings Bryan Populist Democrat

Unique Features of the 1896 Campaign William Jennings Bryan- “Stump Speeches” Outstanding Speaker Travels the country Typical of 1800’s campaigns William McKinley- “Front Porch Campaign” Mark Hanna- McKinley Campaign Manager Accepts donations from leading corporations Speakers are hired to advocate for McKinley Significance- McKinley’s campaign is the first modern presidential campaign in American History. Hanna- hires speakers to advocate for McKinley McKinley Campaign Manager Mark Hanna

Election of 1896 Results McKinley (R) defeats Bryan (D) “Bourbon Democrats” vote for McKinley Many industrial workers living in cities supported McKinley

Election of 1896 Results Hamiltonian vision wins out over Jeffersonian vision America moves more toward an industrial future over Jefferson’s agrarian vision. America will expand overseas to find new markets and become a world power. Modern campaign system develops- money wins elections. New political allegiances help the Republicans to dominate the Era Cleveland and Wilson- only Democrats elected president from 1860-1928 (68 years)

Objectives Identify and explain the key issues in the election. Examine the presidential candidates and their opposing views. Contrast the two campaign styles of McKinley and Bryan. Explain the significance of McKinley’s victory .