The United States and the Problem of Recovery after 1893

By Gerald T. White | Go to book overview

Chapter VI
A Second Answer of Government

In the campaign of 1896 the same three ideas of the role of government with respect to recovery continued to contest for popular support. The first was the Cleveland idea, held most strongly by financial and creditor interests, that the panic of 1893 was a psychological phenomenon. The depression would pass away gradually as soon as faith was restored in the maintenance of the gold standard. The second was the partisan and Republican idea. While not in opposition to that held by Cleveland, it nevertheless explained both the depression and doubts concerning the stability of the American currency in terms of the protective tariff. The third was the agrarian, silver, and debtor idea. It maintained that national prosperity was possible only if agriculture was prosperous. Agricultural prosperity was not possible so long as the national government had a currency system that excluded silver and that was so inadequate in volume as to depress agricultural prices, destroy agrarian purchasing power, and make debts inordinately burdensome.

The Cleveland idea had had its day; in 1896 it was supported only by the Gold Democrats, a weak offshoot of the Democratic party. The agrarian idea in 1896 controlled the Democratic party, the Populists, and the Silver Republicans. The real struggle was between two programs promising positive action: a restoration of a high protective tariff versus free silver, or, as the Democrats called it, bimetallism.

The Republican convention met in St. Louis on June 18. Not anxious for an issue possessing the divisive and sectional force of the monetary controversy, the Republican leadership drew up a platform centering on the tariff. This issue, paramount in the last two presidential campaigns, could now be given partisan relevance with respect to recovery. In addition, the platform expressed opposition "to the free coinage of silver, except by international agreement" and declared that "until such agreement can be obtained, the existing gold standard must be maintained." The gold plank, however,

-56-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The United States and the Problem of Recovery after 1893
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Preface ix
  • Chapter I the Panic of 1893 1
  • Chapter II a First Answer of Government 8
  • Chapter III the Problem of Belief and the Unemployed 21
  • Chapter IV the Tariff of 1894 33
  • Chapter V the Bond Issues 41
  • Chapter VI a Second Answer of Government 56
  • Chapter VII Agriculture and Recovery 71
  • Chapter VIII Exports of Manufactures and Recovery 82
  • Chapter IX Recovery in 1898 91
  • Chapter X - An Overview and a "Legacy" 102
  • Notes 117
  • Bibliography 145
  • Index 157
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 166

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.