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.

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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

Grover Cleveland takes office for 2 nd 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 2 nd term

Bryan vs. McKinley Reconstruction period is over 1896

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

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

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.

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.