Political Developments: The Political Impact of the 1893 Depression Flashcards
What economic issue occurred in 1893?
There was an Economic Depression
Who was the President at the time of the 1893 Depression and what party were they in?
Cleveland (Democrat)
What would supposedly happen in the 1893 Depression if the President was a Democrat?
They would act in a way to improve the conditions for poorer people
What did J.P Morgan do with Cleveland and why?
Gave $62 million to stabilise The Gold Standard
What was the issue with a Democrat President being in favour of the Gold Standard for the Democrat Supporters?
It would alienate Democrat supporters
What did Cleveland do out of favour of the Free Silver Movement in 1896?
He abolished the Sherman Silver Act
Why did Cleveland abolish the Sherman Silver Act?
Because there was the worry of inflation being a disadvantage to big businesses
What was another reason that Cleveland removed the Sherman Silver Act which conflicts with what the Free Silver Movement wanted?
He also removed it to reduce federal government interference in businesses
What was the impact of the Democrats abolishing the Sherman Silver Act?
It caused deep divisions
What did the Populists do in the first 2 years of Cleveland dealing with the 1893 Depression?
Criticised him heavily
Give an example of a Populist criticism of Cleveland’s handling of the 1893 Depression
In 1895 a spokeswoman said that Cleveland was going against the interests of the “little man”
What did the Democrats do due to the continuous criticisms from the Populist Party?
They absorbed them
What was the impact for African American Populists when the Populists aligned with the Democrats?
They felt alienated
Why did African American Populists feel alienated from the Populist Party after aligning with the Democrats?
Because African Americans felt loyal to the Republicans
When did the Democrats align with The Populist Party?
1896
