Economic 1890s

Main

Cleveland's presidency

1893 - 1897

Opposed government interference in economics. Opposed high tariffs and free silver, was more for rich people in general.

Depression

February 1893 - 1901

Philadelphia and Reading Railroad Collapse

March 1893

Philadelphia/Reading Railroad and National Cordage went bankrupt, meaning a bunch of banks (who had heavily invested in it) collapsed and had to call in debt

National Cordage Company

May 1893

One of the first failed monopolies (too cocky)

Coxey's Army

1894

An expression of discontent with grover Cleveland's laissez-faire economic policy. Coxey demanded public work projects to be created, and was roundly ignored

Free Silver

Movement was very popular, was crippled when Bryan was not elected and then died when gold was discovered about the world in hte 1890s and US crop prices rose, seemingly as a result

Sherman Silver Purchase Act Repealed

1893

Cleveland saw this as a drain on gold and was against using the silver as currency so repealed it. This set the Southerners and Westerners (agrarian societies who had debt and less money) against him

Coin’s Financial School

1894

Socratic dialogue for silver, very popular. Written by William H Harvey

Cross of Gold and nomination

July 1896

William Jennings Bryan made the speech and was nominated, becoming the youngest ever presidential candidate. Pro silver, he fused with the populists.

http://historymatters.gmu.edu/d/5354/

McKinley wins election

November 1896

Massive blow to the populist party and the free silver movement.

Gold found in Nome's Creek, Alaska

September 1898

Led to a gold rush and an increase of the amount of gold available , therefore avoiding the problem of a lack of growth with gold currency.

http://www.visitnomealaska.com/PDF's/The%20three%20swedes.pdf

Gold Standard Act

March 1900

End of the idea of free silver