The 1890s Boy, did they stink
The Harrison Administration President Benjamin Harrison the “Billion Dollar Congress: first time govt. budget over $1billion; gives most money to Civil War veterans The McKinley Tariff – raises tariff to highest levels yet; causes much unrest in the South and Midwest
Labor Violence Eventually put down by PA state militia and US military Carnegie tainted permanently as anti-labor The Homestead Strike (1892) – steel workers strike at Carnegie’s Homestead plant Pinkertons and strikers clash Many wounded or killed Pinkertons defeated
Growth of Populism Populism: a political viewpoint that places the “common man” over corporations and special interests Made up of mostly farmers, with labor and reformers, as well
The Birth of the Populist Party 1890 – Ocala, Florida: made up of three groups Organized labor Farmers Social reformers Tom Watson William Peffer “Raise less corn and more H-E-double toothpicks!” – Mary E. Lease
Early Success 1890 - Populists win state legislatures in several Midwestern states, sends five Senators and 12 members to the House 1892 – James B. Weaver wins over 1 million votes and 22 electoral votes
The Omaha Platform No. 1 demand: silver in the money supply at a 16:1 ratio to gold Platform adopted by Populist Party for 1892 election; source for many reforms to come into the future Proposals: 8 hour working day govt. ownership of RRs term limits on politicians popular election of senators income tax
The Depression of 1893 Second worst in American history Causes: overproduction of manufactured goods repeal of limited silver in the money supply loss of gold reserves, causing deflation Growing unemployment and farm foreclosures
The Depression of 1893 – 98 1894 – Pullman Strike: wages cut by 10%, but rent and prices stay the same in company town of Pullman, IL Strike turns violent RRs workers strike in support; most rail traffic stopped
The Depression of 1893 – 98 Cleveland ends strike by sending US military Labor leaders arrested Eugene V. Debs
The Depression of 1893 – 98 President Cleveland pursues laissez-faire approach; violence and protests increase 1894 – Jacob Coxey leads a march on DC; thousands join in demands for jobs
The Depression of 1893 – 98 1895 - J. P. Morgan and partners lend the government $65 million in gold reserves to stabilize money supply Weakens Cleveland politically
The Election of 1896 Republicans nominate William McKinley Considered safe, reliable Democrats enter convention with no clear frontrunner Cleveland rejected by Democratic Party for 3rd term
The Election of 1896 William Jennings Bryan and the “Cross of Gold” speech “You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.”
The Election of 1896 1/3 Populists and 2/3 Democrats merged (“fused”) to recreate the Democratic Party More populist in ideology; endorsed Omaha Platform Remainder of Populist Party eventually dissolved by 1908
The Election of 1896: The Candidates: Democrat – Bryan Republican – McKinley Gold Democrats: John Palmer Prohibition: Joshua Levering
William Jennings Bryan 3 term House member from Nebraska Youngest man to run for president (36) Populist in ideology, supporter of 16:1 Nominated on 5th ballot; unknown outside NE Changed politics by campaigning personally
The Election of 1896 Republican advantages: More money raised by Mark Hanna Support from newspapers and big business Opposition from conservative Democrats
The Election of 1896 The media depicts Bryan as a dangerous lunatic, or foolish dreamer; workers threatened if they vote for Bryan
The Election of 1896 Results – McKinley wins; Bryan makes it close