#2 Flashcards
What was the Wilson-Gorman Tariff Act?
- lowers tariff to 39.9%
- wasn’t signed, but became a law
- support stopped: campaign promises weren’t kept
(left on desk for more than 10 days so it became a law bc that’s the rule)
Why was Cleveland in trouble?
- wage earners didn’t like economic policy
- was blamed for depression of 1893
- 1894: Republicans get Congress
What was the Ways and Means Committee?
2% income tax on $4000 yr and more
-Supreme Court rules it unconstitutional
What was the date for when there was financial panic and depression?
May 5, 1893
What was the Financial Panic + Depression?
- stocks plunged
- 4million were unemployed
- farm prices dropped
- one of the worst depressions in our history
- too little, too late
Who ran for the election of 1896?
MCKINLEY WINS
Republicans: William McKinley (271)
–gold standard of currency
Democrats: William Jennings Bryan (176)
–silver standard of currency
How long was McKinley’s presidency?
1897 - 1901
What was the Dingley Tariff of 1897?
raised tariff to 57%
What came about from the depression?
Prosperity
What came about in 1897?
New corporations
What occurred by the 1900?
progressive movement
During war with Spain in 1898, what occurred?
Spain extended influences:
- Pacific ocean islands
- Caribbean islands
- Far east
What was the trouble in Cuba?
- Cuba and Puerto Rico were the last strongholds
- Cuba was in an economic crunch so they sugar taxed
When did Cuba revolt against Spain?
1895
Who led Spain in this battle?
Valerio Wyler –> AKA “The Butcher”
