Economic Developments: The 1893 Depression Flashcards
What started the 1893 Depression?
There was a decline in international trade
What caused the decline in international trade in the 1890s?
The McKinley Tariff
Why did the McKinley tariff cause a decline in international trade?
Because it set tariffs very high and other countries lost interest
What did Cleveland attempt to do in response to the McKinley tariff causing the Depression?
He attempted to repeal it
What happened to Cleveland’s attempted repeal of the McKinley tariff?
The Supreme Court vetoe’d Cleveland’s attempts to do this
What other act passed in 1890 did Cleveland believe helped to cause the 1893 Depression?
The 1890 Sherman Silver Purchase Act
What did Cleveland do with the 1890 Sherman Silver Purchase Act?
He repealed it in 1893
What was the impact for poorer people of the 1890 Sherman Silver Purchase Act being vetoed?
It created divisions among Democrat voters
When did the 1893 Depression start to end?
1896
