Organized by jacob coxey in march 1894 thousands went

This preview shows page 3 - 4 out of 4 pages.

Organized by  Jacob Coxey  in March 1894, thousands went to  the city by April, gaining mass along the way - Coxey was arrested on capital grounds - Cleveland was saying that the economy booms and busts, so the  government just had to wait it out - He only defended the gold standard, blaming the Sherman Silver  Act for the trouble – the act was repealed in October - When in 1895 the gold reserve was down to $41 mil. Cleveland  turned to Wall St. bankers  J.P. Morgan  and  August Belmont  for  a loan of $62 mil - The gov. bought 3.5 mil oz of gold and the 2 men resold their gov.  bonds to people for a great profit - The gold drain was stemmed and the $100 mil offered in bonds in  1896 sold quickly - The (D) congress of 1893-95 didn’t achieve much - It lowered duties but made so many concessions to protectionists  interest that Cleveland passed it - The tariff did make a 2% income tax for all income over $4,000,  but in 1895 the Supreme court declared the measure  unconstitutional; the claim was that the Constitution forbade direct  tax on individuals - Some (D) were against the Sherman Purchase Act, while others  for it, splitting the party - The split greatly effected the 1894 & 1896 elections - People were realizing that drinking and lack of working, which  were being changed for soberness and hard work, were not the  problem or solution to forces out of their control - In the next century, people spent less time preaching to poor and  more investigating social sources of poverty
Image of page 3

Subscribe to view the full document.

Split of the Democrats - In the late 1890s the idea was that government was suppose help  in large-scale economic and social problems - The depression was memorable not only for its suffering, but it’s  lessons
Image of page 4
You've reached the end of this preview.
  • Spring '12
  • Dicklebery
  • Cleveland, 1954, 1961, Gold Reserve, blacks established businesses

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern