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ration plus industrialization l ration plus industrialization l apid urbanization—growth of cit apid urbanization—growth of cit

Immigration plus industrialization led to rapid urbanization—growth of cities to rapid urbanization—growth of cities

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Immigration plus industrialization led Immigration plus industrialization led to rapid urbanization—growth of cities to rapid urbanization—growth of cities

1920 census: 1920 census: 1921: 51.4% of 1921: 51.4% of Americans lived in citiesAmericans lived in cities of 2,500 or more of 2,500 or more

New York City: New York City: 3 million in 19003 million in 1900 5.6 million in 1920 5.6 million in 1920 Chicago: 1 million in 1900Chicago: 1 million in 1900 3 million in 19203 million in 1920

Cities:Cities:Cheapest & most Cheapest & most convenient convenient places to liveplaces to live Jobs for unskilled laborers Jobs for unskilled laborers in mills and factoriesin mills and factories ProvidedProvided social support of other social support of other immigrant families immigrant families 1890, more Irish in NYC than in 1890, more Irish in NYC than in Dublin, Ireland; world’s largest Dublin, Ireland; world’s largest Polish population in Chicago, IL Polish population in Chicago, IL

1861: immigrants: 20% of increase1861: immigrants: 20% of increase1881-1885: just short of 50% of increase1881-1885: just short of 50% of increase1906-1910: 60% of population increase1906-1910: 60% of population increase1916-1920: decline1916-1920: decline

a. World War Ia. World War Ib. Great flu epidemicb. Great flu epidemicc. Spanish American Warc. Spanish American Ward. Chinese Exclusion Actd. Chinese Exclusion Acte. Red Scare following W W Ie. Red Scare following W W I

Immigration changes population Immigration changes population

Agricultural inventions reduced need Agricultural inventions reduced need for labor on farmsfor labor on farms

Many farm workers moved to cities Many farm workers moved to cities for industrial jobs for industrial jobs

Included several African Americans Included several African Americans moving from the South—moving from the South—200,000200,000 between 1890 and 1910 to escapebetween 1890 and 1910 to escape racial violence, economic hardshipracial violence, economic hardship and political oppressionand political oppression

Frederick Law Olmstead andFrederick Law Olmstead and Calvert Vaux Calvert Vaux

Antidote to congestion of the city Antidote to congestion of the city landscapelandscape

N. Y. Metropolitan MuseumN. Y. Metropolitan MuseumOf Art Of Art

Daniel Burnham and Daniel Burnham and The Great White CityThe Great White City

Chicago’s Chicago’s Columbian Columbian

Exposition—1893 Exposition—1893

Row houses—single family dwellings Row houses—single family dwellings for working classfor working class

Immigrants lived in dumb-Immigrants lived in dumb- bell tenements—over-bell tenements—over- crowded and unsanitarycrowded and unsanitary

Garbage/trash collectionGarbage/trash collection was infrequentwas infrequent and and people dumped on streetpeople dumped on street or in building air shaftsor in building air shafts causing causing rats, filth and diseaserats, filth and disease..

Jacob Riis Jacob Riis How the How the Other Half Other Half LivesLives (1910)(1910)

Transportation:Transportation:Mass transit Mass transit First electric streetcar line in First electric streetcar line in Richmond, VA in 1888Richmond, VA in 1888

Cable cars in San Francisco 1873Cable cars in San Francisco 1873

Subway in Boston in 1897Subway in Boston in 1897

Elisha Otis Elisha Otis

Louis SullivanLouis Sullivan

Fire prevention and fighting Fire prevention and fighting Building materials changed from Building materials changed from wood to steel and brick wood to steel and brick

1853—Cincinnati, OH—first paid 1853—Cincinnati, OH—first paid fire department fire department

Great fires:Great fires:

Chicago (Oct 8, 1871)Chicago (Oct 8, 1871)San Francisco (earthquake)San Francisco (earthquake) April 18, 1906 April 18, 1906

Chicago: 29 hours, 300 deaths, Chicago: 29 hours, 300 deaths, 3 square miles3 square miles, 100,000 homeless, , 100,000 homeless, 17,500 buildings17,500 buildings, $200 million, $200 million

San Francisco: 4 days, 478 deaths, San Francisco: 4 days, 478 deaths, 5 square miles5 square miles, 250,000 homeless, , 250,000 homeless, 28,000 buildings28,000 buildings, $500 million, $500 million

Water—challenge to supply safe, fresh Water—challenge to supply safe, fresh water to people in cities water to people in cities

1840s-1850s, New York 1840s-1850s, New York and Cleveland built public and Cleveland built public waterworks waterworks

Still,Still, little indoor plumbing— little indoor plumbing— faucets on streets; lugged to faucets on streets; lugged to apartmentsapartments

1893—chlorination; 1908—filtration 1893—chlorination; 1908—filtration

Thomas Thomas Crapper—butCrapper—but did not solve did not solve the sanitation the sanitation problem as longproblem as longas sewage as sewage poured into poured into open ditches open ditches or streams or streams

Limited relief, however;Limited relief, however;Tensions between ProtestantsTensions between Protestants and Catholics over religious and Catholics over religious doctrine and standards of doctrine and standards of moralitymoralityRestrict aid to “deserving Restrict aid to “deserving poor” poor” Too much assistance would Too much assistance would breed dependency; poverty due to laziness or breed dependency; poverty due to laziness or alcoholism alcoholism

Social Gospel: linking religion to improving Social Gospel: linking religion to improving society, particularly relief to the poor.society, particularly relief to the poor.Example: The Salvation Army Example: The Salvation Army

Reform via Settlement HousesReform via Settlement HousesCommunity centers in slums Community centers in slums that that that provided help and friendshipthat provided help and friendshipMiddle class, college educated womenMiddle class, college educated womenJane Addams—Jane Addams— Hull House in ChicagoHull House in Chicago Solving neighborhoodSolving neighborhood problemsproblems Antiwar & racial justice Antiwar & racial justice activist; activist; Nobel Peace Prize Nobel Peace Prize 19311931

Murder rate in late 19Murder rate in late 19thth century century 1880: 25 per million; 100 per million1880: 25 per million; 100 per million

Evolution of Evolution of political machinespolitical machines Organization controlling activities of Organization controlling activities of one political party in citiesone political party in citiesServices to voters and business in Services to voters and business in exchange for votes or money exchange for votes or money City boss; ward bosses; precinct City boss; ward bosses; precinct captains and workerscaptains and workersCity boss’s power: control of City boss’s power: control of thousands of jobs, thousands of jobs, including police,including police, firefighters, sanitation & influencefirefighters, sanitation & influence over courts and licensesover courts and licenses

Political machines sympathetic to Political machines sympathetic to immigrants—jobsimmigrants—jobs, citizenship, housing,, citizenship, housing, political protection political protection in exchange for in exchange for votesvotes

Some machines turned to fraudSome machines turned to fraud

Dogs, children, Dogs, children, dead people votingdead people voting Kickbacks on municipal contractsKickbacks on municipal contracts—— workers turn in bill higher than workers turn in bill higher than actual cost & “kick back” a portion actual cost & “kick back” a portion of earningsof earnings

Tammany HallTammany HallNew York City Democratic machine,New York City Democratic machine, 1869-18711869-1871

William Marcy “Boss”William Marcy “Boss” Tweed & Tweed Ring—Tweed & Tweed Ring— pocketed $200 millionpocketed $200 million in kickbacks & payoffs.in kickbacks & payoffs.

Ridiculed by cartoonist Ridiculed by cartoonist Thomas Nast in Thomas Nast in Harper’sHarper’s Weekly. Weekly. Tweed eventually convicted.Tweed eventually convicted.

Factors that made boss rule possibleFactors that made boss rule possible

Power of immigrant votersPower of immigrant votersLink between political organizations and the Link between political organizations and the wealthy, prominent citizens who profited from wealthy, prominent citizens who profited from their dealingstheir dealingsStructural weaknesses of city governmentsStructural weaknesses of city governmentsBoss: invisible government—alternative to Boss: invisible government—alternative to inadequate municipal government inadequate municipal government

Shopping Shopping

First shopping center: First shopping center: Cleveland, OH, 1890 Cleveland, OH, 1890

First department store: Marshall FieldFirst department store: Marshall Field in Chicagoin Chicago in 1865in 1865. . “Give the lady “Give the lady what she wants.”what she wants.” Allowed people to Allowed people to take merchandise home on approvaltake merchandise home on approval..F. W. Woolworth—The Five and Dime F. W. Woolworth—The Five and Dime Store and first chain store, 1870s Store and first chain store, 1870s

Mail-order catalogsMail-order catalogs

Montgomery Ward--1872Montgomery Ward--1872

Sears Roebuck--1896Sears Roebuck--1896

1910—10 million Americans 1910—10 million Americans shopped by mail—enhanced shopped by mail—enhanced by RFD (Rural Free Delivery) by RFD (Rural Free Delivery)

Richard Sears & Richard Sears & Alvah Roebuck Alvah Roebuck

Simon PattenSimon Patten The Theory of ProsperityThe Theory of Prosperity The New Basis of Civilization The New Basis of Civilization In modern, industrial societies, In modern, industrial societies, the the problems of scarcity had been problems of scarcity had been overcome. The new overcome. The new economics economics would create enough wealth to satisfy would create enough wealth to satisfy needs andneeds anddesires; focus—pursuit of pleasuredesires; focus—pursuit of pleasure

American Leisure American Leisure 1889 saying1889 saying: “Eight hours for work,: “Eight hours for work, eight hours for rest, and eight hours eight hours for rest, and eight hours for what we will.”for what we will.”

American Leisure American Leisure

Amusement parks—often built by Amusement parks—often built by trolly-car companies seeking more trolly-car companies seeking more riders riders

Coney Island in NY Coney Island in NY (first roller coaster 1884)(first roller coaster 1884)

First Ferris Wheel: First Ferris Wheel: Chicago World’s Fair 1893Chicago World’s Fair 1893

Spectator sport of baseballSpectator sport of baseball

50 clubs by 185050 clubs by 18501869—Cincinnati Red Stockings1869—Cincinnati Red Stockings toured playing local teamstoured playing local teams1876—National League1876—National League1901—American League1901—American League1903—First World Series1903—First World Series—— Boston Pilgrims beat Boston Pilgrims beat Pittsburgh PiratesPittsburgh PiratesNegro Leagues for African Negro Leagues for African AmericansAmericans

Shoeless JoeShoeless JoeJacksonJackson

Football: appealed to the Football: appealed to the more elite segments of the more elite segments of the male population—originated male population—originated in colleges/universities in colleges/universities Rutgers v. Princeton, 1869Rutgers v. Princeton, 1869

Dr. James NaismithDr. James Naismith

Spectator sport of boxing (prize Spectator sport of boxing (prize fighting)fighting)

Bare knuckles Bare knuckles Marquis of Queesnberry Marquis of Queesnberry rulesrulesJohn L. Sullivan—1882John L. Sullivan—1882Gentleman Jim Corbett Gentleman Jim Corbett used footwork (boxing used footwork (boxing skill) to knock out skill) to knock out Sullivan in 21Sullivan in 21stst round in round in 18921892

Live theater—Sarah Bernhardt, Live theater—Sarah Bernhardt, Lillie Langtry, and Jenny Lind Lillie Langtry, and Jenny Lind VaudevilleVaudeville—songs, dancing, —songs, dancing, slapstick comedy, chorus lines slapstick comedy, chorus lines Circus: P. T. Barnum Circus: P. T. Barnum & Anthony Bailey & Anthony Bailey The Greatest Show The Greatest Show On Earth On Earth

Ragtime music: Scott Joplin Ragtime music: Scott Joplin Motion picturesMotion pictures 10-minutes; 1 reel10-minutes; 1 reel

The Great Train Robbery The Great Train Robbery 1903—told a story 1903—told a story D. W. Griffith’s epic D. W. Griffith’s epic The Birth of a Nation The Birth of a Nation 1915—3 hours but1915—3 hours but Inflamed racial prejudice Inflamed racial prejudice

Mass Circulation Newspapers Mass Circulation Newspapers Sensational headlines andSensational headlines andpromotional stunts promotional stunts (Nellie Bly, (Nellie Bly, New York WorldNew York World))

Joseph Pulitzer—Joseph Pulitzer— pioneered Sunday pioneered Sunday editions, sports pages,editions, sports pages, comics, women’s newscomics, women’s news““Sin, sex, and sensation”Sin, sex, and sensation”

Mass Circulation Newspapers Mass Circulation Newspapers William Randolph Hearst William Randolph Hearst

Yellow journalism—Yellow journalism— exaggerated tales exaggerated tales of of Spanish cruelty.Spanish cruelty. AlsoAlso personal scandals,personal scandals, hypnotism, and an hypnotism, and an imaginary conquest imaginary conquest of Marsof Mars

Leaders: political mediocritiesLeaders: political mediocritiesRigid stalemateRigid stalemateBoth major parties: strength and stability Both major parties: strength and stability But: Federal government did relatively little But: Federal government did relatively little of importance of importance

Politics: not national; rather based on Politics: not national; rather based on broad regional, ethnic or religious broad regional, ethnic or religious sentiments sentiments

Party system: 16 solidly Republican statesParty system: 16 solidly Republican states 14 solidly Democratic (South)14 solidly Democratic (South)

5 “Swing” States5 “Swing” States

A period of GOP presidents (all but Cleveland)A period of GOP presidents (all but Cleveland) Popular vote separation: 1.5% or lessPopular vote separation: 1.5% or lessGOP: Senate GOP: Senate (treaties, Supreme Court justices(treaties, Supreme Court justices political appointments)political appointments)Democrats: House of Representatives Democrats: House of Representatives (Money bills)(Money bills)

Voter turnout: 78% of those eligible to voteVoter turnout: 78% of those eligible to vote 60-80% for off year or local elections60-80% for off year or local elections CA Primary 2006: 28%; General: 37% CA Primary 2006: 28%; General: 37%

Party Loyalty:Party Loyalty:DemocratsDemocrats

Southerners Southerners (the Solid South)(the Solid South) CatholicsCatholicsImmigrantsImmigrantsPoorer workersPoorer workersTemperance; pro-immigration Temperance; pro-immigration

RepublicansRepublicansNorthern ProtestantsNorthern ProtestantsOld stock citizensOld stock citizensMore nativist (anti-immigation)More nativist (anti-immigation)

Federal government:Federal government:Deliver mailDeliver mailMaintain a militaryMaintain a militaryConduct foreign policyConduct foreign policyCollect tariffs and taxes Collect tariffs and taxes Administer Civil War pensions Administer Civil War pensions

For Civil War veterans who had retiredFor Civil War veterans who had retired or for widows and childrenor for widows and childrenAt peak: majority of elderly Northern At peak: majority of elderly Northern male citizensmale citizensCorruptCorrupt

Reform of Spoils System Reform of Spoils System

Patronage (giving of government jobsPatronage (giving of government jobs to those who helped candidates get to those who helped candidates get elected) out of controlelected) out of control

Many not qualified for positions Many not qualified for positions

Some used positions for personal gainSome used positions for personal gain

Reformers pushed for a merit systemReformers pushed for a merit system

Enraged GOP Sen. Roscoe Enraged GOP Sen. Roscoe Conkling and his supporters, Conkling and his supporters, the Stalwarts. the Stalwarts.

Half-Breeds: James G. Blaine Half-Breeds: James G. Blaine

Both competed for control of the Both competed for control of the GOP; but neither much interested GOP; but neither much interested in political change—simply wanted in political change—simply wanted more power and patronagemore power and patronage

Rutherford B. Hayes (Republican or G.O.P)Rutherford B. Hayes (Republican or G.O.P)Named independents to Named independents to cabinet cabinet

One member fired clerksOne member fired clerks who had no work to do who had no work to do

Commission to investigate Commission to investigate customhouses. Hayes fired two top customhouses. Hayes fired two top officials of NYC customhouse.officials of NYC customhouse.

James A. Garfield James A. Garfield

Hayes chose not to run Hayes chose not to run in in 18801880

GOP Convention floor fight GOP Convention floor fight between Stalwarts between Stalwarts (opposing spoils reform) and two(opposing spoils reform) and two groups of reformers: Mugwumpsgroups of reformers: Mugwumps (civil service reform) & Half-Breeds(civil service reform) & Half-Breeds (reform but still loyal to party)(reform but still loyal to party)

Garfield a compromise candidate Garfield a compromise candidate

James A. Garfield James A. Garfield

GarfieldGarfield ties to reformers ties to reformers

Conkling supporter, Chester A. Arthur, Conkling supporter, Chester A. Arthur, named VP candidatenamed VP candidate

Arthur had been one of Arthur had been one of two NYC customhousetwo NYC customhouse officials fired by Hayes officials fired by Hayes

Garfield defeated Battle of Garfield defeated Battle of Gettysburg hero Winfield S. Hancock Gettysburg hero Winfield S. Hancock

Garfield defeated Battle of Gettysburg Garfield defeated Battle of Gettysburg hero Winfield S. Hancock hero Winfield S. Hancock

Garfield gave reform Republicans most Garfield gave reform Republicans most patronage jobs. Stalwarts furious patronage jobs. Stalwarts furious

July 2, 1881, July 2, 1881, Garfield shotGarfield shot in in Washington, D.C. train station by Washington, D.C. train station by deranged Stalwart, Charles Guiteau,deranged Stalwart, Charles Guiteau, whom Garfield had turned down whom Garfield had turned down for a patronage job.for a patronage job.

Garfield diesGarfield dies September 19, 1881 September 19, 1881 and and Arthur becomes presidentArthur becomes president

Arthur turned reformer Arthur turned reformer as presidentas president Urged Congress to enact Urged Congress to enact a civil service lawa civil service lawPendleton Act of 1883—Pendleton Act of 1883— bipartisan civil service bipartisan civil service commission to makecommission to make appointments to federalappointments to federal jobs through merit system jobs through merit system determined by an examination.determined by an examination.Caused politicians to court big Caused politicians to court big business for campaign contributionsbusiness for campaign contributions

1884,1884, Arthur does not run;Arthur does not run; Democrat Democrat Grover ClevelandGrover Cleveland defeated James G. defeated James G. Blaine—Blaine—first Democratic presidentfirst Democratic president in 24 yearsin 24 years

Supported lower tariffs Supported lower tariffs to bring down prices/to bring down prices/opposed by business/opposed by business/industry.industry.

Congress did not support Congress did not support

1888, Cleveland defeated by Indiana 1888, Cleveland defeated by Indiana Senator Benjamin Harrison Senator Benjamin Harrison

Harrison financed by bigHarrison financed by big business/industry business/industry

Cleveland won popular vote;Cleveland won popular vote; Harrison won electoral voteHarrison won electoral vote

During Harrison AdministrationDuring Harrison Administration, , Congress enacted McKinley Tariff Act Congress enacted McKinley Tariff Act of 1890, raising tariffs to highest of 1890, raising tariffs to highest levellevel

Sherman Anti-Trust Act of Sherman Anti-Trust Act of 1890 1890 Proposed by Proposed by John ShermanJohn Sherman,,

Senator from OhioSenator from OhioOutlawed trusts asOutlawed trusts as interfering with interfering with free tradefree trade

Almost impossible Almost impossible to enforceto enforce—law —law was too vague andwas too vague and Supreme Court did not supportSupreme Court did not support

McKinley Tariff (October 1890)McKinley Tariff (October 1890)

William McKinleyWilliam McKinley

Highest protective tariff in the Highest protective tariff in the history of the U. S. up to that timehistory of the U. S. up to that timeRepublicans suffered a stunning Republicans suffered a stunning defeat in the 1890 off-year defeat in the 1890 off-year elections elections

Cleveland elected again in 1892Cleveland elected again in 1892

Supported lowering tariffs,Supported lowering tariffs, butbut refused to sign the refused to sign the Wilson-Gorman Tariff ActWilson-Gorman Tariff Act because it required a because it required a federal income tax. federal income tax.

After 10 days, Sundays excluded,After 10 days, Sundays excluded, unsigned acts become law.unsigned acts become law.

During the period of history we During the period of history we have just studied, and up to today,have just studied, and up to today, Republicans have been the party Republicans have been the party of big business and have liked of big business and have liked high tariffshigh tariffs. High tariffs cause other countries to . High tariffs cause other countries to place high tariffs on their exports making them place high tariffs on their exports making them more expensive for Americans to buy; so more expensive for Americans to buy; so Americans will tend to buy American goods,Americans will tend to buy American goods,produced by big business. produced by big business. ContinuedContinued

To help sum up, here is a To help sum up, here is a key fact from political key fact from political

history about which you history about which you should be aware.should be aware.

U. S. farmers have always tended U. S. farmers have always tended to produce more than Americans to produce more than Americans can consume; so they export can consume; so they export many crops to other nations. If many crops to other nations. If our high tariffs cause other countries to increase our high tariffs cause other countries to increase their tariffs, our farm products won’t sell as welltheir tariffs, our farm products won’t sell as wellabroad. But, abroad. But, until 1913until 1913 when the 16 when the 16thth Amend- Amend-ment created a permanent income tax, ment created a permanent income tax, tariffs tariffs were the main source of income for the U.S. were the main source of income for the U.S. Government.Government.

Because Democrats were Because Democrats were the party of the the party of the worker worker

and, more importantly in and, more importantly in this case, thethis case, the farmer, they farmer, they

tended to dislike high tended to dislike high tariffs.tariffs.

Attempt to regulate the Attempt to regulate the railroadsrailroadsClear: only Federal Clear: only Federal Government could Government could regulate railroadsregulate railroadsBanned discrimination in rates between long Banned discrimination in rates between long and short haulsand short haulsRRs required to publish rate schedules and RRs required to publish rate schedules and file them with the governmentfile them with the governmentAll interstate rail rates had to be reasonable All interstate rail rates had to be reasonable and justand justCreated the Interstate Commerce CommissionCreated the Interstate Commerce Commission

Interstate Commerce Act of 1887 Interstate Commerce Act of 1887

Oliver H. Kelley and the Grange Oliver H. Kelley and the Grange

Grange: elite system of initiation Grange: elite system of initiation and ritual; strict code of secrecy and ritual; strict code of secrecy

Depression of 1873: major decline Depression of 1873: major decline in farm prices; South and Midwestin farm prices; South and Midwest were strongest regions were strongest regions

Granger Laws: Granger Laws: Reforms attempting to bring railroads under Reforms attempting to bring railroads under more government control more government control State initiativesState initiativesSoon destroyed by courts; Grange lost prestige Soon destroyed by courts; Grange lost prestige

Farmers’ AlliancesFarmers’ Alliances

Successors to the GrangeSuccessors to the GrangeSouth (Texas) South (Texas) 1880: Southern Alliance: >4 million members1880: Southern Alliance: >4 million membersPrimarily concerned with local problemsPrimarily concerned with local problemsFormed cooperatives and other marketing Formed cooperatives and other marketing mechanismsmechanismsArgued for a sense of mutual, neighborly Argued for a sense of mutual, neighborly responsibility, enabling farmers to resist responsibility, enabling farmers to resist oppressive outside factorsoppressive outside factors

Mary E. Lease Mary E. Lease

Fiery populist oratorFiery populist oratorDenounced banks, railroads and Denounced banks, railroads and middlemenmiddlemen““Raise less corn and more hell!”Raise less corn and more hell!”Women also argued that sobrietyWomen also argued that sobriety was the key to stability in rural was the key to stability in rural society society

Ocala Demands Ocala Demands

1889—loose merger of Southern and NW 1889—loose merger of Southern and NW AlliancesAlliancesNational convention in Ocala, FLNational convention in Ocala, FL Party Platform for the AlliancesParty Platform for the Alliances1890 Off-year elections:1890 Off-year elections:

Alliance candidates won partial or Alliance candidates won partial or complete control of 12 state legislatures,complete control of 12 state legislatures, 6 governorships, 3 U. S. Senate seats,6 governorships, 3 U. S. Senate seats, 50 House seats50 House seats

But many simply DemocratsBut many simply Democrats

Populists (People’s Party) Populists (People’s Party)

Tom Watson of GA Tom Watson of GA Leonidas L. Polk of NCLeonidas L. Polk of NC

Populists (People’s Party) Populists (People’s Party) 1892 Election1892 ElectionNominated James B. Weaver of Iowa Nominated James B. Weaver of Iowa

Populist Reform Demands Populist Reform Demands •Government warehouses—farmers deposit Government warehouses—farmers deposit crops as collateral for borrowing money fromcrops as collateral for borrowing money from the government at low interest ratesthe government at low interest rates•Abolition of national banksAbolition of national banks•End of absentee ownership of landEnd of absentee ownership of land•Direct election of U. S. SenatorsDirect election of U. S. Senators•Government ownership & regulation of Government ownership & regulation of railroads, telephones and telegraphsrailroads, telephones and telegraphs•Government-operated postal savings banksGovernment-operated postal savings banks•Graduated income taxGraduated income tax•Inflation of currencyInflation of currency

The Panic of 1893 The Panic of 1893 •March 1893: Philadelphia & Reading RR March 1893: Philadelphia & Reading RR

Declared bankruptcyDeclared bankruptcy•National Cordage Company failed in May National Cordage Company failed in May •Stock Market collapseStock Market collapse•Wave of bank failures Wave of bank failures •Contraction of credit—many business failuresContraction of credit—many business failures•Domino effect Domino effect

The U. S. economy was heavily dependent on The U. S. economy was heavily dependent on the health of the railroads—nation’s most the health of the railroads—nation’s most powerful corporate institutionspowerful corporate institutions

Coxey’s Army Coxey’s Army

Jacob S. Coxey—advocated massiveJacob S. Coxey—advocated massive public works program to create jobspublic works program to create jobs for the unemployed and currency for the unemployed and currency inflationinflationNo progress in No progress in CongressCongressLed a march of theLed a march of the unemployed to unemployed to Washington Washington Armed police Armed police barred from capitolbarred from capitolCoxey arrestedCoxey arrested

Bimetalism: most of its existence, U. S. had Bimetalism: most of its existence, U. S. had recognized both gold and silver as backing recognized both gold and silver as backing for currency for currency

Crime of 1873:Crime of 1873:•1870s: 16 oz of silver = 1 oz of gold 1870s: 16 oz of silver = 1 oz of gold •Silver used more for jewelry than for coins;Silver used more for jewelry than for coins;•Mints stopped coining silverMints stopped coining silver•1873: Congress—officially discontinued silver 1873: Congress—officially discontinued silver coinscoins•Value of silver fell below 16:1; many felt a Value of silver fell below 16:1; many felt a conspiracy of big bankers; demanded a conspiracy of big bankers; demanded a return, at once, to free silver and unlimited return, at once, to free silver and unlimited coinage of silver at 16:1coinage of silver at 16:1

Sherman Silver Act of 1890 Sherman Silver Act of 1890

Nation’s gold reserves were dropping Nation’s gold reserves were dropping The Act required the Government to purchaseThe Act required the Government to purchase but not coin silver and pay for it in goldbut not coin silver and pay for it in goldCongress repealed based on a request from Congress repealed based on a request from President ClevelandPresident ClevelandBitter and divisive battle; split in Democratic Bitter and divisive battle; split in Democratic PartyPartySouthern and Western Democrats—alliance Southern and Western Democrats—alliance against Cleveland and Easterners against Cleveland and Easterners

William McKinley: GOP candidate William McKinley: GOP candidate for president in 1896for president in 1896Opposed free coinage of silver Opposed free coinage of silver except by agreement with leading except by agreement with leading commercial nations commercial nations

William Jennings BryanWilliam Jennings Bryan

Democratic National ConventionDemocratic National Convention Western & Southern delegates Western & Southern delegates determined to seize control determined to seize control Wanted a pro-silver candidate Wanted a pro-silver candidate

Majority Report: Westerners and Southerners:Majority Report: Westerners and Southerners: tariff reduction, income taxtariff reduction, income tax stricter control of railroads stricter control of railroads and trusts, and free silverand trusts, and free silver

Minority Report: Easterners:Minority Report: Easterners: Echoed GOP platform Echoed GOP platform (opposed free coinage of (opposed free coinage of silver)silver)

Bryan, the Great Commoner,Bryan, the Great Commoner, The Cross of Gold Speech

1896 Election: GOP $7 million; Democrats: $300,000 1896 Election: GOP $7 million; Democrats: $300,000 McKinley: front porch campaignMcKinley: front porch campaignBryan: 36 years old, first candidate to campaign among Bryan: 36 years old, first candidate to campaign among the people; 18,000 miles; 5 million peoplethe people; 18,000 miles; 5 million peopleCampaign antagonized some in Democratic base Campaign antagonized some in Democratic base

McKinley Administration: McKinley Administration: Return to relative calmReturn to relative calm Dissent exhaustedDissent exhausted Labor unrest subsidedLabor unrest subsided Politically shrewd and committed to Politically shrewd and committed to reassuring stabilityreassuring stability Economic crisis gradually easedEconomic crisis gradually eased Dingley TariffDingley Tariff Currency (Gold Standard) Act o 1900 Currency (Gold Standard) Act o 1900