Chapter+19

H.W: Read + Take Notes pg. 522-533

The Politics of Equilibrium

The Party System


 * Following Reconstruction up to the late 1890s most states already had a pre-determined party picked. Except 5, most important were NY & Ohio.
 * Republicans = North, Protestants, and middle class. Democrats = South, Catholics, recent immigrants.
 * These states were usually the decision of the elections, outcome depended on voters turnout.
 * Voting percentages were much higher back then.

The National Government + Presidents and Patronage


 * The Federal Government had very limited power and responsibilities.
 * They were responsible for delivering mail, maintaining a military, conducting foreign policy, & collecting taxes/tariffs.
 * **Civil War Pension** was awarded to Civil War vets (from the Union) and widows.
 * Tried to make it for ALL Civil War vets, but never passed. When CWV died out, so did the Pension system.
 * Overall, late 19th century government lacked a modern national government.
 * Most powerful political institutions were the two political parties + their machine bosses.
 * Presidents were more iconic, without much power except distribute government appointments. (about 100k appointments)
 * Stalwarts and Half-Breeds competed for Republican Party. Hayes tried to satisfy both, but satisfied neither.
 * Rutherford B Hayes was often called "His Fraudulency"
 * Next president was James A. Garfield.
 * After only four months, Garfield was shot twice and died a few months later.
 * New President was Chester A. Arthur.
 * Passed **Pendleton Act** - required that some federal jobs be filled by competitive written examinations and not Patronage.

New Public Issues


 * Public opinion continued to grow against "monopolies". Corporations that joined together to restrain competition.
 * Constant pressure led to the passing of the Sherman Antitrust Act in 1890.
 * The **Sherman Antitrust Act** was virtually ineffective for over 10 years.
 * Republicans were more interested in the tariff.
 * A **tariff** is a tax imposed on imported goods designed to protect domestic producers.
 * The **McKinley Tariff** passed in 1890, however it led to the destruction of Republicans in the government.
 * Cleveland once again became president in 1892.
 * Railroad regulation was a popular demand from the people.
 * Government passed the **Interstate Commerce Act of 1887** which was suppose to make the train rates more fair, was like the Sherman Antitrust Act, not really enforced and without effect for many years.

The People's Party - "Populists"


 * Populists began with farmers and their discontent with the government. They were being oppressed and unheard.
 * Populists were more popular in the mid-west and the south, where farmers, for the first time were joining together to fight for something they believed in.
 * They tried to gain support from other unions, such as the labor unions, but didn't get much support since what they were fighting for differed greatly.
 * They did however gain the support of miners, in the Rocky States because of their platform to use silver, along with gold, as a form of currency. **"Free Silver"**
 * White populist argued whether to allow AA in or not. They would become valuable assets because of their numbers and causes.
 * Alliances for AA to join the populist movement were known as the **"Colored Alliances"**
 * They did accept AA in, as long as they accepted that the whites, without a doubt, dominated.
 * Wanted to abolish national banks and put the government in control of railroads, telephones, and telegraphs.

H.W: Read + Take Notes pg. 533-540

The Crisis of The 1890s

The Panic of 1893


 * **Causes of the Panic of 1893 included** - the bankruptcy of the Philadelphia and Reading Railroad, followed by the collapse of the National Cordage Company, which triggered a collapse in the stock market, which resulted in a wave of NY bank failures due to their heavy investments in the stock market, without the banks and their loans, several small businesses also went bankrupt.
 * This was the worst depression in the nations history.
 * Within six months, more than 8,000 businesses, 156 railroads, and 400 banks failed!
 * About 20% of the labor force lost their jobs (about 1 million workers).
 * Prosperity did not fully return until 1901.

The Election of 1896


 * William Jennings Bryan was the youngest man to ever be nominated for presidential election.
 * The Peoples party, attempted to join the Democrats in order to become more powerful and win the Presidency.
 * Although both parties didn't agree on the same issues, the "populists" needed a pro- free silver candidate.
 * Bryan started, what is now, **modern campaigning**.
 * He visited several cities and spoke to millions of people, and for the first time, a presidential candidate really came out and said "I want to be president".
 * This **"Fusion"** ended badly for populists when Bryan lost to McKinley.
 * With his defeat, was the **end of the Peoples Party**.
 * Never again did farmers join together for economic reform.
 * Slowly but gradually, America rose out of the Panic of 1893 and once again prospered in 1901.
 * McKinley sent a commission to Europe to try to get a silver agreement with Great Britain and France, but failed.
 * Gold remained the currency of the United States and the **Free-Silver Movement failed**.
 * However it posed the question of America's future currency.