history test 1 Flashcards
(201 cards)
1
Q
Is the party of Lincoln Republican or Democrat? What is it known as?
A
Grand Old Party
2
Q
What were the five major elements of the republican party?
A
1) Strong right-wing, meaning they sought high tariffs, the gold standard, and federal money for businesses.
2) The left wing was western farmers, and European immigrants wanted looser paper currency (greenbacks).
3) Union Army Verterans, G.A.R.
4) African Americans (former slaves).
5) federal officeholders.
3
Q
What did the Republicans remind voters that the Democrats did?
A
The Democrats started the Civil War and were responsible for thousands of deaths.
4
Q
What were the two sayings that the Republicans made up about the Democrats?
A
“Vote like you shot,” “Scratch a democrat, find a rebel”
5
Q
What was the democratic party known as?
A
The party of Jefferson and Jackson.
6
Q
What were the two major elements of the Democratic Party?
A
1) weak and timid right wing- did not favor high tariffs but favored the gold standard.
2) strong left-wing- urban workers and southern farmers wanted easy credit and paper currency.
7
Q
Did the Civil War help or hurt the Democrats? What did it influence?
A
It hurt them; the Democrats lost every election from 1860 to 1884.
8
Q
Who was involved in the election of 1868? Who won?
A
Ulysses S. Grant (Republican) vs. Horatio Seymour (Democrat). Grant won.
9
Q
What was the campaign of 1868?
A
“let us have peace” and the Ohio Idea.
10
Q
What was the Ohio Idea?
A
It was a plan to redeem the U.S. war bonds and all U.S. public debt with paper money (greenbacks) rather than gold.
11
Q
In Grant’s first administration, what was the final decision on the currency?
A
Greenbacks could be used to pay debts without regard to when they were contracted.
12
Q
What was the CCS Alabama controversy?
A
The CCS Alabama was built in Britain, and there was $6 million in damage due to northern shipping. Britain agreed to pay the US $15.5 million in compensation.
13
Q
Who was in the election of 1872? Who won?
A
President Grant (Republican) vs. Horace Greenly (Democrat). Grant won a second time.
14
Q
What happened in Grant’s second administration?
A
The Panic of 1873.
15
Q
What was the Panic of 1873?
A
This was caused by the overexpansion of industry and railroad construction. Thousands of businesses went bankrupt.
16
Q
What bill did Grant veto? What would it have done?
A
The Inflation Bill in October 1873 would have increased paper currency.
17
Q
What was the Specie Resumption Act of 1875?
A
Greenbacks remained in circulation but would be redeemed for gold. (The gold standard)
18
Q
What was President Grant’s legacy?
A
Scandals and Corruption
19
Q
What were the three major scandals of Grant’s legacy?
A
The Credit Mobilier scandal, the Whiskey ring, and the Trader Post scandal.
20
Q
What was the Credit Mobilier scandal?
A
It was a railroad construction company involved in building the first transcontinental rail line. They overcharged the government to build the railroad for a mile of track by $20,000, pocketing the excess funds. They bribed members of Congress and press members with stock and free rail passes. The company Bribed people with free rail passes.
21
Q
What was the Whiskey Ring scandal?
A
Tax agents were bribed to falsify records on how much whiskey was produced- lowering the quality and reducing the taxes. Grant’s private secretary was involved, but the president defended him and allowed him to resign.
22
Q
What was the Trader post-scandal?
A
Trade posts were at military forts, where food and other provisions were supplied to Indians.
Belknap accepted bribes and kickbacks to keep a crooked Indian post trader in his job at Fort Sill. Grant accepted his resignation with great regret.
23
Q
Who was involved in the election of 1876? Who won?
A
Rutherford B. Hayes (Republican) vs. Samuel J. Tilden (Democrat). Hayes won.
24
Q
What was the “Fraud of the Century?”
A
Democrats threatened to install Tilden by force, but Hayes won the presidency.
25
What was the compromise of 1877?
Hayes agreed to Withdraw all remaining US troops from the South, Name at least one Southerner to the cabinet, allow Southern democrats in their states to control political jobs, known as patronage, and Spend substantial federal money on internal improvements in the South, mainly railroads.
26
What was President Hayes the first to do when being sworn in?
Hayes was the first person to be sworn in at the Whitehouse.
27
What did President Hayes do?
He only served one term and removed the remaining federal troops from the South.
28
What two fractions was the Republican party split into?
Stalwarts (Radicals) and the Half-Breeds (Moderates).
29
What were the Stalwarts? Who headed them?
Headed by Roscoe Conkling, they were supporters of Ulysses S. Grant and opposed civil service reform.
30
Who were the Half-Breeds? Who headed them?
Headed by James G. Blaine, they were not strong supporters of Grant and were condemned as not being full-blooded Republicans. They paid lip service to Civil service reform.
31
Who did President Hayes fire? What did this cause?
He fired Chester A. Arthur, which outraged him, but Hayes won. This was the first time since 1865 that a president had resisted attempts by Congress to encroach on his authority.
32
Who was in the election of 1880? Who won?
James A. Garfield (half-Breed) and Chester A. Arthur (stalwart). Garfield won.
33
Who did Garfield give the most jobs to?
The Half-Breeds.
34
What happened to Garfield on September 19th? What did this cause?
Garfield was shot and killed, and Chester A. Arthur became president.
35
What was President Arthur's nicknames?
"Elegant Arthur" and “Father of the Steel Navy.”
36
What three major things were a part of Arthur's administration?
Birth of the modern steel navy, the “Mongrel Tariff,” and the Pendleton Civil Service Reform Act
37
What was the "Mongrel Tariff?"
Congress created a tariff commission; Arthur stacked it with protectionists. It was a 25% tariff reduction, but Congress pushed higher tariff rates. President Arthur signed the bill. Critics called it the “mongrel tariffs.”
38
What was the Pendleton Civil Service Reform Act?
Classified specific federal jobs as civil service only classified 10% of federal jobs, but subsequent presidents extended the list. This was one of the most important laws in the late 19th century
39
Who was in the Election of 1884? Who Won?
James G. Blaine (Republican) (Half-Breed) vs. Grover Cleveland (Democrat). Cleveland won.
40
What was Blaine's reputation? What was his famous saying, and why?
He was notoriously corrupt- “the continental Liar from Maine.”
He had a corrupt land deal with the saying, "Burn this letter," but the letters weren't burnt.
41
Why was Cleveland's administration corrupt?
He had a child out of wedlock.
42
What cost Blaine the presidency?
Samuel D. Burchard attacked Democrats as the party of “Rum, Romanism, and Rebellion.” Blaine did not condemn the words which
Angered Irish Catholics. This cost Blaine the state of New York and his presidency.
43
What did President Cleveland break?
He was the first Democrat to win in 24 years.
44
What was President Cleveland's nicknames?
"Veto President," “Uncle Jumbo,” and “Big Steve”
45
Why was Cleveland called the veto President?
He rejected 414 bills and had the Texas seed bill vetoed, which rejected aid for drought-stricken farmers.
46
What is the Interstate Commerce Act of 1887?
It was the nation's first federal regulatory agency to regulate the railroads.
47
What was the Civil Service Reform?
President Cleveland increased civil service jobs to 26,000.
48
What kind of troops got Pensions?
Union.
49
Who was Adlai Stevenson? What did he do in the Civil Service Reform?
He was known as the chief "hatchet Man," he served as assistant postmaster general and removed 40,000 Republicans as postmasters. He later served as Cleveland's vice president in his second term.
50
What was the The Dependent Pension Bill of 1887?
It established the precedent for providing pensions without regard to service-incurred disability, it had to be at least 90 days.
51
Did Cleveland veto or persue The Dependent Pension Bill? Why?
He vetoed it because it would turn the pension tolls into a refuge for fraud rather than a roll of honor.
52
What was the Republicans view on tariffs?
They wanted high, protective tariffs.
53
What was the Democrat's view on tariffs?
They wanted a lower tariff for revenue only.
54
Did Cleveland want high or low tariffs?
Low.
55
What was the princable issue for 1888?
Tariffs.
56
Who was in the Election of 1888? Who won?
President Cleveland vs. Benjamin Harrison. Harrison won.
57
What was the big issue of the Election of 1888?
The big policy issue was the tariff-free trade of protectionism.
58
What was the Sackville-west affair?
Sir Lionel Sackville-West sent The
Murchinson wrote a letter to the embassy, but the real author was George Osgoodby. He stated that Cleveland was England's choice. This angered Irish Catholics, which cost Cleveland New York.
59
What was the "Guilded" Age?
The period from the war's end to 1900, the Second Industrial Revolution in the United States.
60
Who were the eight "Robber Barons."
John D. Rockefeller, J.P. Morgan, Andrew Carnegie, Cornelius Vanderbilt, Jay Cooke, Jay Gould, James J. Hill, Leland Stanford.
61
During the "Guilded" Age, the government practiced “Laissez-faire." What does that mean?
It was a hands-off approach.
62
What are "Rings" in politics?
It is rigged elections and pocketed tax money in an endless cycle of corruption.
63
What is Tammany Hall?
The most well-known political machine was very corrupt.
64
Where was the political power controlled during the "Guilded" Age? Who controlled it?
It was mainly in the northern states and controlled by political machines known as "Rings."
65
What are the two party bosses in the political rings?
Bosses controlled city parties, and ward bosses controlled smaller units.
66
67
What was the Tweed Ring?
Tweed Ring ran Tammany Hall in NYC. Tweed and his cohorts are estimated to have stolen as much as $200 million from the city.
68
What was the NY County courthouse known as? What did it cost double as?
Tweed Courthouse
69
What were the six factors of rapid industrialization and the concentration of wealth?
The Civil War, the laissez-faire policy, unlimited natural resources, a huge labor supply, American Ingenuity, inventiveness, managerial style, and the tariff wall.
70
How did the Civil War increase industrialization?
War profiteering, the war also eliminated the Southern planter as a rival of the industrialists. The war also paved the way for mass markets and mass production.
71
How did the Laissez-Faire Policy increase industrialization?
There was minimal interference by the government in the domestic economy. No efforts were made to curb the growth of the industry. There was no minimum wage, no 8-hour workday, no worker's compensation, and working conditions were horrible.
72
How did unlimited natural resources increase industrialization?
The railroad network tied the great American domestic market together, making mass production and consumption possible.
73
How did a huge labor supply increase industrialization? 2 factors.
Major population shifts occurred after the war, moving from the farm to the city. Also, massive immigration flowed into the US after the war.
74
How did American Ingenuity, inventiveness, and Managerial style increase industrialization?
Americans truly understood the modern techniques of mass production with major inventions like the cash register, typewriter, electric dynamo, refrigerated railcar, telephone, streetcar, and electric railways.
75
Who was Thomas A. Edison?
He made the incandescent electric light; the phonograph, mimeograph, moving pictures, and the Dictaphone.
76
Who was Alexander Graham Bell?
He was the co-founder of AT&T.
77
How did the tariff wall increase industrialization?
The great American market was protected from foreign competition by a high protective tariff that kept foreign goods out of the American market. Cheap European labor was allowed, but cheap manufactured goods were kept out.
78
Who was Cornelius Vanderbilt?
He was nicknamed “the commodore.” he was invested in the railroads and known for owning the NY Central Railroad.
79
What did the Pacific Railway Act authorize?
The construction of the five transcontinental railroads.
80
What were the names of the five transcontinental railroads?
Union Pacific; Atchinson, Topeka, and Santa Fe; Southern Pacific Railroad; Northern Pacific Railway; and The Great Northern.
81
For each railroad track, what did each company receive?
Twenty square miles of land in alternate 640-acre sections along the right-of-way. As well as thirty-year government loans.
82
What were the three types of thirty-year government loans with the railroads?
$16,000 per mile on flat prairie land, $32,000 per mile for hilly terrain, and $48,000 per mile in the mountains.
83
Who did they hire to fulfill the labor needed for constructing the railroads?
Irish laborers and Chinese "coolies."
84
What was the first Transcontinental Line?
The Union Pacific- Central Pacific.
85
Who was in the way of building western railways? What happened to them?
The American Indian tribe they were rounded up and put on reservations.
86
Why were the buffalo killed?
To wipe the Indians of their food.
87
What was the Great Sioux War of 1876 for?
The Black Hills - gold.
88
What was the biggest defeat for the US Army on June 25, 1876?
The Battle of the Little Big Horn.
89
What did the Wounded Knee Massacre in 1890 end?
Indian resistance.
90
What was the Dawes Act?
It granted each native family a plot of land within the reservation, forcing natives to adopt white ways.
91
What was the Homestead Act?
It granted 160 acres of free land in the east.
92
What was the American Indian Citizenship Act?
It granted Indians full citizenship rights.
93
What was the one railroad that didn't go bankrupt?
James J. Hill’s Great Northern was not built with government money or land grants.
94
What were the five ways technology made the railways better?
A great impetus to the industry, it stimulated mining and agriculture, promoted the growth of cities and urbanization, broadened the immigration stream, and produced millionaires.
95
What were the five major railway abuses?
Excessively high rates, rebates, pooling, Long haul- short haul discrimination, and bribery.
96
What does rebates mean?
A discount to the larger corporations.
97
What does pooling mean? Was it legal?
When two railroads would merge to pool their profits. Illegal.
98
Who were The Grangers?
They were the farm protest group in the Midwest.
99
What did Wabash, St. Louis & Pacific Railroad Company vs. Illinois do?
So that states cannot regulate railroads.
100
What did Munn v. Illinois do?
So that states can regulate railroads.
101
What was the Interstate Commerce Act?
The first federal regulatory agency to regulate the railroads outlawed discriminatory practices.
102
Who was Andrew Carnegie?
He dominated the Steel Industry.
He used vertical integration to control the entire steel production process.
103
What was the Interstate Commerce Commission?
A five-member panel to investigate the railroads, but had no enforcement powers and could only appeal to federal courts.
104
The new industrial order in America in the late 19th century was based on _____.
Steel.
105
Who was the greatest financier in the nation and the wealthiest man in America?
J.P. Morgan.
106
What were Trusts?
Organizational device for controlling or monopolizing a large portion of the market, both production and distribution.
107
What was the Bessemer Process?
It was a way to purify iron into steel.
108
What was the Sherman Antitrust Act?
Senator John Sherman outlawed a trust as a trust.
109
Why was the oil industry important? Who drilled the first oil well?
Machines ran on petroleum, which was vital to industrialization. Edwin L. Drake drilled the first well.
110
Who was John D. Rockefeller?
He was a major figure in the oil industry; he was the world's first billionaire.
111
What was the Santa Clara County v. Southern Pacific Railroad Company?
They ruled that corporations were the same as “people” and were protected by the Constitution.
112
What was the US v. E.C. Knight Company?
The Supreme Court weakened the Sherman Act.
113
What was Rugged Individualism?
It emphasizes self-reliance and independence.
114
What were Property rights?
It was an emphasis on the protection of private property.
115
What were the three origins of the Gospel of Wealth?
Protestant Doctrine of Hard Work, Classical Economics of Adam Smith, and Social Darwinism.
116
What was the Classical Economics of Adam Smith?
He was the Father of Modern Economics and Free Market Capitalism. Also wrote “The Wealth of Nations."
117
What was the Protestant Doctrine of Hard Work?
Known as the Puritan Work Ethic or the Calvinist Work Ethic. It included the virtues of thrift and acquisitiveness. Hard work was considered a noble virtue.
118
What is Social Darwinism?
Charles Darwin - “On the Origin of Species” - “Survival of the fittest.”
Herbert Spencer applied Darwin’s theories to the business world- Social Darwinism. In Economic competition, the strong survive, and the weak fall by the wayside.
119
What were the five Gospels of wealth?
A natural aristocracy, limitations of politicians, Limitations of the state, Philosophy of poverty, and Stewardship of Wealth.
120
What was a Natural Aristocracy?
It controlled the American economy for the benefit of all. These leaders had reached the top by natural selection.
121
What were the Limitations of Politicians from the Gospel of Wealth?
Politicians were not subject to "Natural Selection" because the people chose them, so they were not as trusted as businessmen.
122
What were the limits of the state from the gospel of wealth?
The state or government should stick to police duties. The state shouldn't interfere with the capitalist system because it interrupts natural selection. It was unrestrained capitalism.
123
What was the Philosophy of Poverty?
Poverty was the consequence of natural selection but should be temporary. Only the lazy would stay in poverty. The state should not intervene so the strong survive and the weak perish.
124
What was Stewardship of Wealth?
Andrew Carnegie heavily practiced it. The wealthy should use their wealth to lessen social injustice.
125
Who were the three main dissenters to the Gospel of Wealth philosophy?
Henry George, Edward Bellamy, and Henry D. Lloyd.
126
Why was Henry George against the gospel of wealth?
He was known as the "single taxer." He wrote a book called Progress and Poverty. He was concerned that millions were in severe poverty. He concluded that all problems would be solved by levying a tax on the unearned increment on unimproved land.
127
Why was Edward Bellamy against the Gospel of Wealth?
He wrote Looking Backwards, a utopia about the government, where the government slowly took over all production.
128
Why was Henry D. Lloyd against the Gospel of Wealth?
He authored Wealth Against Commonwealth. He was the first author to call attention to the disappearance of free competition. He also called the government out for regulation of the trusts.
129
What were the labor conditions during the Gilded Age?
Low wages, Long hours, No worker's compensation, No benefits, Horrid working conditions, Child labor, Deflation
130
What was the major initiative of the first national labor union?
8 hour workdays
131
What did the Knight of Labor attempt to do? What weakened them?
It was an attempt to unite skilled and unskilled workers. But the unskilled workers weakened them.
132
What was the American Federation of Labor (ALF)?
It was headed by Samuel Gompers, it was known as the “Bread and Butter Unionism” because of higher wages, shorter hours, and better working conditions. It was skilled workers only, and membership was over 1 million. It merged with the Congress of Industrial Organizations (CIO) AFL-CIO today.
133
What were the four major strikes in the 19th century?
The Railroad Strike of 1877, the Haymarket Riot of 1886, the Homestead Steel Strike of 1892, and The Pullman Strike of 1894.
134
What was the Railroad strike of 1877?
Railroads instituted a 10% wage cut, and so violence broke out in Virginia and Pittsburgh. President Hayes sent troops to end it.
135
What was the Haymarket Riot of 1886?
Protests with the Knights against the McCormik harvesting machine company, they wanted an 8-hour workday. Police had to break it up, but someone was killed by a bomb, killing seven. It was a blow to the Knights of Labor.
136
What was the Homestead Steel Strike of 1892?
It was a strike against Carnegie Steel in Homestead; the workers were upset about wage cuts and their working conditions. The company sent 300 agents to break the strike, but it went bad, and 13 were killed. The steelworkers were not unionized until 1930.
137
What was the Pullman Strike of 1894?
It involved a Pullman Palace Car Company; it was during the Depression. They cut workers' wages by 28%, so they were caught in an economic sequence. Transportation was stopped, and violence followed. The FEDS stepped in and made the strikers go back to work.
138
What was the American Railway Union (ARU)?
It was headed by Eugene Debs; it was a boycott of Pullman cars. The railway workers would refuse to handle the cars so they walked off the job.
139
Who was the leading socialist in the country?
Eugene Debs.
140
Where did immigration in the 1900s mainly come from?
Europe.
141
What did W.A.S.P.s stand for?
White, Anglo-Saxon Protestants
142
Where did the New Immigrants come from? Why did they come to America?
The new immigrants were from southern and eastern Europe.
They came to America to escape unfavorable political and economic conditions.
143
What did the New Immigrants cause?
The American Protective Association (APA).
144
What was the Chinese Exclusion Act?
It prohibits Chinese immigrants from entering the US.
145
What were the three General Immigration Policies?
“Free immigration,” “Exclusion,” and “Selection and Restriction”
146
What did “Selection and Restriction” mean?
It was a Quota system.
147
What did the McCarran-Walter Act of 1952 do?
It lifted the ban on Asians.
148
What did the Immigration and Nationality Act of 1965 do?
It abolished quotas.
149
What did Jefferson Yeoman Farmer mean?
They didn't conform to the reality of the Gilded Age. Yeomen were people who owned small farms and used family labor. They used subsistence farming.
150
What does subsistence farming mean?
Not affected by international markets.
151
What were the Gilded Age farmers like?
There were no more Jefferson's Yeoman Farmers. They specialized in a cash crop. They depended on supply/demand and forces they couldn't control.
152
What were the six fundamental problems of the Gilded Age farmers?
National and International Overproduction, Scarcity of the Currency, Transportation Evils, Credit Evils, Policies of the National Government, and Loneliness and Isolation of Rural Life.
153
What was National and International Overproduction?
There is too much being produced to be absorbed. There was more land in cultivation. The prices declined. For example, cotton prices fell.
154
What was the Scarcity of the Currency?
The US population doubled, but the currency remained the same.
155
What is the Sherman Silver Purchase Act?
The government purchases 4.5 million ounces of silver bullion annually, with the new silver certificates redeemable in gold.
156
What is the “Crime of ‘73."
Congress demonetized silver.
157
What is bimetallism?
Silver and gold coins circulating.
158
What is "Gresham's Law?"
“Bad money drives good money out of circulation.” This means Face Values vs. Intrinsic Value.
159
What is Transportation Evils?
The railroad rates hurt small farmers and merchants, making it difficult for farmers to profit.
160
What are Credit Evils?
The agriculture required credit because farmers needed to make a crop harvest in the fall. The interest rates were high. They hoped to make enough to repay the loan and have leftovers, but that was impossible.
161
What were the Policies of the National Government during the Gilded Age?
The Republican party controlled the Federal Government. Their policy was high tariffs and gold standards, which hurt farmers. Republicans would not inflate the currency.
162
Why was Loneliness and Isolation of Rural Life a part of farming during the Gilded Age?
There was no highway, newspapers, hospitals, schools, or mail delivery. Natural disasters happened, including the grasshopper plague, droughts, floods, and the boll weevil.
163
What were the three Farmer Protest Organizations?
The National Grange, Farmers Alliances, and the Populists.
164
What was the National Grange?
It was the Order of the Patrons of Husbandry. It was primarily concerned with social and cultural issues. They later got into politics with railroad regulations.
165
What were the Farmer's Alliances?
The Northern Alliance, and the Southern Alliance.
166
What was the Northern Alliance?
It was the strongest in the wheat-growing areas. The leaders were James B. Weaver, “Sockless” Jerry Simpson, and Mary Elizabeth Lease. The Alliances in Politics
Northern Alliance got into politics much quicker than the South. They wanted a new party, they wanted public ownership of railroads, they also wanted free silver.
167
What was the Southern Alliance?
They were big in segregation, education, newspapers, periodicals, and co-ops. They did not want a new party; they wanted regulation of railroads; they also wanted a Sub-treasury plan, a system of government warehouses.
168
Who was Mary Elizabeth Lease?
She was a fiery populist and an effective public speaker who told farmers to “raise less corn and more hell.”
169
Who were the Populists?
They developed into a third party.
170
What were the eight things part of the Populist party platform?
Expansion of the Currency, Government Ownership of Railroads, Telegraphs, and Telephone, Reclamation of Public Lands, Postal Savings Banks, Graduated Income Tax, Sub-Treasury System, Shorter working hours and restrictions on immigration, and Political reforms.
171
What was the Expansion of the Currency?
It called for the expansion of the currency by either the free and unlimited coinage of silver or paper currency. They wanted the increase at $50 per capita.
172
What was the Government Ownership of Railroads, Telegraphs, and Telephone?
The government owned the railroad, Telegraphs, and Telephone companies. The North liked this, but the South wanted government regulation.
173
What was the Reclamation of Public Lands?
The lands were claimed by railroads; people were upset that businesses took the land and wanted to give it back to the government.
174
What was Postal Savings Banks?
They created these banks for the rural areas, so farmers could now deposit money with the post office.
175
What was Graduated Income Tax?
It was also called Progressive Income Tax; this tax placed high rates on high incomes. It was to break up the concentration of wealth. It later became a law.
176
What was the Sub-Treasury System?
It was a system of government warehouses to allow farmers to control the price of their products. They were given certificates that circulated as money.
177
What were the Shorter working hours and restrictions on the immigration system?
It was unrelated to farming. It was designed to appeal to industrial workers. They wanted shorter work hours and restrictions on immigration.
178
What were the Political reforms?
It was designed to make the government more democratic.
179
What was Ignatius Donnelly of Minnesota's book Caesar’s Column?
The lower classes would eventually rise and destroy Western civilization.
180
What did William H. “Coin” Harvey of Arkansas believe?
He believed free silver would solve society's problems and lead to utopia.
181
What were the four weaknesses of the Populist Party?
Weak Leaders, limited geographic appeal, oversimplified issues, and Espoused conspiracy theories.
182
What were the two contributions of the Populist party?
They were the first to challenge the philosophy of laissez-faire and Democratic reforms.
183
What was the Benjamin Harrison Administration?
It was Republican-controlled and had the Major Legislative Acts.
184
What were the Major legislative acts?
Sherman Antitrust Act, Sherman Silver Purchase Act, and the McKinley tariff.
185
What was the McKinley tariff?
It was a 50 percent rate on foreign sugar. It lost 2 cents per pound on domestic sugar.
186
What were the election results of 1892?
Cleveland won.
187
What was Cleveland the first to do?
The first to serve two non-consecutive terms.
188
What was the Panic of 1893?
It was the overexpansion of Industry and Railroads and silver inflation. There was a 20-25% unemployment rate, and tens of thousands of businesses, 500 banks, and 150 railroads went bankrupt.
189
What was Coxey's Army?
Coxey led hundreds of unemployed men to DC. They sought a $500 million public works program to be paid for with paper currency. Congress rejected the idea, so many unemployed “armies” emerged, beginning Secret Service protection.
190
What is the Wilson-Goman Tariff Act of 1896?
A 40% tax on sugar and a 2% tax on incomes over $4,000
191
What is the Pollock v. Farmers’ loan and trust?
The Supreme Court struck down the income tax as unconstitutional.
192
Who was in the election of 1896? Who won?
William McKinley (R) vs. William Jennings Bryan (D). McKinley won.
193
What were the two campaign issues of 1896?
McKinley of Ohio and Bryan of Nebraska.
194
What was the McKinley of Ohio campaign issue?
High tariffs, gold standard, support for big businesses.
195
What was the Bryan of Nebraska campaign issue?
Low tariffs, free coinage of silver, and support for farmers.
196
What was Bryan's Democratic platform?
The party platform denounced virtually everything earlier Democrats had stood for: A demand for tariff reduction, An endorsement of the principle of the income tax, A denunciation of trusts, and Free and unlimited coinage of silver.
197
What were the four policy changes in the McKinley administration?
Increase in the tariff, the Gold Standard, Return to Prosperity, and A New Foreign Policy.
198
What is the increase in the tariff of McKinley's administration?
There was an issue with McKinley's signature, the Dingley tariff 1897; rates increased by over 50%, keeping foreign products out of the US market.
199
What is the Gold Standard during McKinley's administration?
Gold went over silver; there was a Gold Standard Act of 1900. It made paper dollars and silver be placed on a parity with gold.
200
What was the Return of the Prosperity during McKinley's administration?
It turned the country into a panic. Gold flooded into the country, which increased the money supply and brought unparalleled prosperity to the country. Unemployment rates fell below 5%, and farmers benefited.
201
What was the New Foreign Policy in McKinley's administration?
There was new territory acquired; there was imperialism.
