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Unformatted text preview: their securities.
- As a result, the Sherman Act was repealed in 1893, but
people STILL didn’t stop, which forced Cleveland to
accept an offer from J.P. Morgan (in return for bonds,
which they resold for profit). This got Cleveland in trouble
with his fellow Democrats and wasn’t even that
157 beneficial, as the economy crashed again in 1895 before
it began to rise back up due to gold discoveries in
Alaska, good harvests, and industrial growth.
- Strangely enough, the Depression was the last element
in cementing the new national economy, b/c it wiped out
lots of the weaker industries, I guess.
*Depression Era Protests*
- The first real protests were in 1877 [the RRD strikes],
and they were followed by the Haymarket Riot (1866),
Carnegie Steel strikes in 1892, violence at a silver mine
(also in 1892), etc. These events scared the crap out of
many well-off people, who thought, “Oh my GOD …the
ANARCHISTS are behind it all.”
- This actually wasn’t true at all, though. There were
some sots in America, but it didn’t work out so well
b/c of factionalism and the constant temptation to get
ahead via the capitalist system. The biggest sot
leader, Eugene V. Debs, emerged in the aftermath of the
1894 Pullman car strike – but e/t he did form the
Sot Party of America, not much came of it until the
- In 1894, another popular movement, Coxey’s Army,
got a lot of attention. Coxey, who advocated public works
projects and low-interest gov’t loans, led a huge number
of farmers/unemployed people on a march to the capital.
On the day of the demonstration, however, police
stopped the protestors and arrested Coxey.
*The Election of 1896* 158 - The Populists prepared to run again in the Presidential
Election of 1896 – they were doing well, but their
biggest problem was lack of organization, and the effects
of racism. The big issue, as they saw it, was the coinage
of silver, which they promoted as the obvious sol’n to the
country’s economic problems.
- But Popu...
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This note was uploaded on 04/02/2014 for the course APUSH AP United taught by Professor Orban during the Fall '10 term at Harrison High School, Harrison.
- Fall '10