";s:4:"text";s:30218:""[83][84], Bryan's nomination was denounced by many establishment Democrats. The economic Panic of 1893 had left the nation in a deep recession, which still persisted in early 1896. The left-wing Populist Party (which had hoped to nominate the only silver-supporting candidate) endorsed Bryan for president, but found Sewall unacceptable, substituting Thomas E. Watson of Georgia. Free silver especially resonated among farmers in the South and West, as well as miners. Many of the elements of the speech had appeared in prior Bryan addresses. Illinois Senator John M. Palmer was eager to be the presidential candidate, and the convention nominated him with Kentucky's Simon Bolivar Buckner as his running mate. [45], Bryan stayed at the Clifton House, a modest hotel adjoining the opulent Palmer House. "[123] After a brief interval for handshakes, the train would pull out again, to another town down the track.[123]. "[19] A Minnesota correspondent wrote in Outlook magazine: "high school boys are about equally divided between silver and baseball, with a decided leaning toward the former". However, the economy was booming under the leadership of McKinley. The jury predictably found Scopes guilty, but Bryans performance in the trial, and his thrashing in the national press, marked a less than stellar end to his long career as a public figure. Source (Popular Vote): .mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription a,.mw-parser-output .citation .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:#d33}.mw-parser-output .cs1-visible-error{color:#d33}.mw-parser-output .cs1-maint{display:none;color:#3a3;margin-left:0.3em}.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}Leip, David. Bryan always regarded that argument as the speech's most powerful part, despite the fame its conclusion would gain. "[110][111][112] August 12 was an extremely hot day in New York, especially for the crowd jammed into the Garden; when Missouri Governor William J. He supported many Populist policies. His 'Cross of Gold' speech, given to conclude the debate on the party platform, immediately transformed him into a favorite for the nomination, and he won it the next day. The paper editorialized on the same page that even if the Democratic candidate was not insane, he was at least "of unsound mind". The 1900 United States presidential election took place after an economic recovery from the Panic of 1893 as well as after the Spanish-American War, with the economy, foreign policy, and imperialism being the main issues of the campaign. [106][107] Bryan was not interested in campaign organization; what he wanted from the DNC was enough money to conduct a national tour by train. Why did William Jennings Bryan lose? William Jennings Bryan delivering a campaign speech in 1910. overcoming discrimination to become a self made millionaire why is madame CJ walker remembered? These included Vice President Adlai Stevenson of Illinois, Senator Joseph C. Blackburn of Kentucky, Indiana Governor Claude Matthews, and Bryan. Poor Grover Cleveland a hard-money, laissez-faire Democrat was blamed for the panic of 1893, and many leading Cleveland Democrats lost their gubernatorial and senatorial posts in the 1894 elections. The 1896 presidential race is generally considered a realigning election, when there is a major shift in voting patterns, upsetting the political balance. The Scopes monkey trial in Dayton, Tennessee, played out under the national spotlight, with journalists, religious leaders and onlookers crowding the courtroom. "I was a Democrat before the Convention and am a Democrat stillvery still. He then lowered his arms, and began the journey back to his seat in the silence. While the farmers of the south and west continued to support Bryan's proposed economic policies, many found McKinley's to be effective enough. The billionaire businessman ran as a Republican and scored an upset victory over his Democratic opponent, Hillary Clinton, in the 2016 read more, John McCain first entered the public spotlight as a Navy fighter pilot during the Vietnam War. The day after his Cross of Gold speech, Bryan won the Democratic presidential nomination; he also won the support of the Populist and National Silver parties. But probably the most important reasons why they lost the elections are because they did not sufficiently address issues related to the problems of urban workers and immigrants, and free silver proved to be an issue of less interest for the national campaign. [73] As Missouri Senator George Vest nominated Bland, his oratory was drowned out by the gallery, "Bryan, Bryan, W.J. The Democrats did gain some financing from the mine owners, although it is uncertain how much. Through 1895 and early 1896, Bryan sought to make himself as widely known as an advocate for silver as possible. She became his wife, and was his principal assistant throughout his career. The effect was deflationary. McKinley did well in the border states of Maryland, West Virginia, and Kentucky. Though he continued to publicly oppose U.S. involvement in World War I after his resignation, Bryan changed course after the nation entered the conflict in 1917 due to extensive popular support for the war effort. When both Hill and Bryan (who was selected as the other pro-silver speaker) objected to such a long closing address, Tillman settled for 50minutes and for opening the debate rather than closing it; Bryan was given 25minutes to close. Bryan and many other Democrats believed the economic malaise could be remedied through a return to bimetallism, or free silvera policy they believed would inflate the currency and make it easier for debtors to repay loans. He was followed by Senator William Vilas of Wisconsin and former Massachusetts Governor William D. Russell. Bryans pacifist stance put him increasingly at odds with the president, however, and he resigned in 1915 in protest after Wilson sent a second note to Germany demanding an end to submarine warfare after the sinking of the Lusitania, an action Bryan felt went too far toward violating American neutrality. Taken prisoner after his plane was shot down, he suffered five and a half years of torture and confinement before his release in 1973. In 1890, he agreed to run for Congress against William James Connell, a Republican, who had won the local congressional seat in 1888. Bryan signed on as chief prosecutor, facing off against the criminal defense attorney Clarence Darrow. McKinley and Hanna gently mocked Dawes, telling him that Bland would be the nominee. Bryan did not; Senator Jones (as the new Democratic National Committee chairman, in charge of the campaign) stated, "Mr. Sewall, will, of course, remain on the ticket, and Mr. Watson can do what he likes. Advocates of free silver (or bimetallism) wanted the government to accept all silver bullion presented to it and to return it, struck into coin, at the historic value ratio between gold and silver of 16 to 1. "[145] Bryan's own explanation was brief: "I have borne the sins of Grover Cleveland. Wherever his train went people, who had travelled from nearby farms and villages, waved and shouted encouragement. New York Senator Hill was next: the leading spokesman for gold, both gold and silver delegates quieted to hear him. In addition to the frontrunners, other silver men were spoken of as candidates. "[102], Historian R. Hal Williams, in his book about the 1896 campaign, believes that the Populist nomination did Bryan little good; most Populists would have voted for him anyway and the endorsement allowed his opponents to paint him and his supporters as extremists. The book, composed of accounts of (fictitious) lectures on the silver issue given by an adolescent named Coin to Chicago audiences, became an immense bestseller. Bryan served as Secretary of State under President Woodrow Wilson from 1913 to 1915, resigning as Wilson moved the nation closer to intervention in World War I. [122] He did not campaign on Sundays, but on most other days spoke between 20 and 30 times. He knew personally more delegates than did any other candidate and he was on the ground to supervise his strategy. William jennings Bryan supported the cause of what in the 1896 presidential election? He was slim, tall, pale, raven-haired, beaked of nose. In 1904, Taft took on the role of secretary of war in the administration read more, William Randolph Hearst (1863-1951) launched his career by taking charge of his fathers struggling newspaper the San Francisco Examiner in 1887. Active in Democratic Party politics, Sewall was one of the few eastern party leaders to support silver, was wealthy and could help finance the campaign; he also balanced the ticket geographically. Our delegation should not be too prominent in applause. "[100] Populist Kansas Congressman Jerry Simpson wrote, "I care not for party names. But McKinleys victory was fueled by a massive influx of campaign cash from Wall Street bankers and other wealthy business interests, all determined to crush Bryans radical brand of populism. The presidential election in 1896, a contest between the Republican candidate, William McKinley (1843-1901), and the Democrat candidate, William Jennings Bryan (1860-1925), was contested over McKinley's pledge to maintain the gold standard for the nation's currency, in contrast to Bryan's promise to increase the supply of money by expanding the . The majority felt exposed, crestfallen, and humiliated.[56]. The election of 1896 was just as much a partisan battle over the future of American economic policy as the 2012 election. By 1896, populist issues had become so important that the Democratic candidate for president, William Jennings Bryan, pledged to support them and went on to win most of the South and West. [115], Bryan's plan for victory was to undertake a strenuous train tour, bringing his message to the people. Others dubbed Bryan a "Popocrat". [38] Illinois Governor Altgeld, a leader of the silver movement, was ineligible because he was not a natural-born U.S. citizen as required for the presidency in the Constitution. He had accepted the nominal editorship of the Omaha World-Herald in August 1894. The Republican William Howard Taft worked as a judge in Ohio Superior Court and in the U.S. Sixth Circuit Court of Appeals before accepting a post as the first civilian governor of the Philippines in 1900. Throughout the nation, voters were intensely interested in the campaign, studying the flood of pamphlets. NAACP what organization used the court system to fight discrimination? A streak of the moralist preacher raised his political chances among a people attuned to the biblical phrase and Shakespearan [sic] stance. Elected to the House of Representatives in 1890, when he was just 30 years old, Bryan championed populist causes including the direct election of senators, graduated federal income tax and the free silver movement, which sought to expand the federal money supply by basing U.S. currency on silver as well as gold. In 1887, Bryan moved to the fast-growing state of Nebraska, where he settled in Lincoln and established a thriving law practice. The 1908 United States presidential election was the 31st quadrennial presidential election, held on Tuesday, November 3, 1908. The campaign, as it proved, was badly organized: This was Jones' first national campaign, and the party structure in many states was either only newly in the control of silver forces, or in gold states wanted no part of the national ticket. On July 26, 1925, five days after the verdict was issued, Bryan died in his sleep after suffering a stroke. Attending Illinois College beginning in 1877, Bryan devoted himself to winning the school prize for speaking. Cross of Gold Speech and Election of 1896, Anti-Evolution Crusade, Scopes Trial and Death, Department of State: Office of the Historian. This would restore a practice abolished in 1873. Bryan, a former Democratic congressman from Nebraska, gained his party's presidential nomination in July of that year after electrifying the Democratic National Convention with his Cross of Gold speech. We have submitted the issues to the American people and their will is law. Great Commoner Bryan dies in sleep, apoplexy given as cause of death. UPI Archives, July 27, 1925. https://www.history.com/topics/us-government/william-jennings-bryan. [62][64] He responded to an argument by Senator Vilas that from silver forces might arise a Robespierre. The increasing economic struggles of poor farmers during the 1870s and 1880s led to the Populist movement. "[75] On the first ballot, Bryan had 137 votes, mostly from Nebraska and four southern states, trailing Bland who had 235; Boies was fourth with 67 votes and was never a factor in the balloting. [58] He began: I would be presumptuous, indeed, to present myself against the distinguished gentlemen to whom you have listened if this were a mere measuring of abilities; but this is not a contest between persons. After a candidate backed by the nascent Populists withdrew, Bryan defeated Connell for the seat by 6,700 votes (nearly doubling Connell's 1888 margin), receiving support from the Populists and Prohibitionists. The New York World reported, "The floor of the convention seemed to heave up. The galleries were quickly packed, but the delegates, slowed by fatigue from the first two days and the long journey from the downtown hotels, were slower to arrive. After Bryan helped rally support behind Woodrow Wilson in the 1912 presidential election, Wilson chose the now-elder Democratic statesman as his secretary of state. His father, Silas Bryan, was a Jacksonian Democrat, judge, lawyer, and local party activist. Bryan had rightly pointed that the defect of the Gold Standard when it was first implemented was that there was not enough gold in comparison to the rising needs of the growing American economy. The dark horse is in his stall, feasting on the oats of hope and political straws. Nevertheless, Gold Democrats began plans to hold their own convention, which took place in September. The proposed platform was pro-silver; Senator Hill had offered an amendment backing the gold standard, which had been defeated by committee vote. "[79] He left the choice of a running mate to the convention; delegates selected Maine shipbuilder Arthur Sewall. T.G.O.D Y.O.L.O In 1986, he began his long tenure as the U.S. read more, William Seward (1801-1872) was a politician who served as governor of New York, as a U.S. senator and as secretary of state during the Civil War (1861-65). Bryan later asked the Platform Committee chairman, Arkansas Senator James K. Jones why he was given such a crucial role as closing the platform debate; Senator Jones responded that he had three reasons: Bryan's long service in the silver cause, the Nebraskan was the only major speaker not to have addressed the convention, and that Jones had a sore throat. The coalition of wealthy, middle-class, and urban voters that defeated Bryan kept the Republicans in power for most of the time until 1932. He also argued in support of a graduated income tax, antitrust laws and other government regulation of business, womens suffrage and the prohibition of alcohol. [128] For the most part, Bryan ignored the attacks, and made light of them in his account of the 1896 campaign. There is no legal or constitutional requirement that the loser of a U.S. presidential election must concede. They had been passed as compromises between free silver and the gold standard. William Jennings Bryan was born in rural Salem, Illinois, in 1860. Only Bryan was left to speak, and no one at the convention had yet effectively championed the silver cause. The 1896 Democratic National Convention repudiated the Cleveland administration and nominated Bryan on the fifth presidential ballot. He won the prize in his junior year, and also secured the affection of Mary Baird, a student at a nearby women's academy. By August, many firms had gone bankrupt, and a special session of Congress convened, called by Cleveland to repeal the silver purchase act. Bryan remained at his hotel, sending word to his fellow Nebraskans, "There must be no pledging, no promising, on any subject with anybody. The coalition of wealthy, middle-class and urban voters that defeated Bryan kept the Republicans in power for most of the time until 1932. "use strict";(function(){var insertion=document.getElementById("citation-access-date");var date=new Date().toLocaleDateString(undefined,{month:"long",day:"numeric",year:"numeric"});insertion.parentElement.replaceChild(document.createTextNode(date),insertion)})(); FACT CHECK: We strive for accuracy and fairness. The electoral vote was not as close: 271 for McKinley to 176 for Bryan. [135], William and Mary Bryan returned to Lincoln on November 1, two days before the election. [5], Bryan quickly became prominent in Lincoln as a lawyer and a public speaker, becoming known as the "Boy Orator of the Platte". It was badly received even by silver delegates, who wished to think of silver as a patriotic, national issue. Even in the South, Bryan attracted 59% of the rural vote, but only 44% of the urban vote, taking 57% of the southern vote overall. Despite his defeat, Bryan's campaign inspired many of his contemporaries. These results made the Midwest the crucial battlefield that would decide the presidency. [37], In the run up to the Democratic National Convention, set to begin at the Chicago Coliseum on July 7, 1896, no candidate was seen as an overwhelming favorite for the presidential nomination. The convention, by voice vote, seated the silver Nebraskans, who arrived in the convention hall a few minutes later, accompanied by a band. The 1896 race is generally seen as a realigning election. "[142] By the end of 1896, Bryan had published his account of the campaign, The First Battle. On the fifth ballot, other states joined the Bryan bandwagon, making him the Democratic candidate for president.[76][77]. Bryan quipped, "I seem to have plenty of friends now, but I remember well when they were very few. To those who cling to the gold standard, he declared in closing: You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.. Beginning in 1896, he emerged as a dominant force in the Democratic Party, running three times as the party's nominee for President of the United States in the 1896, 1900, and the 1908 elections. Many were disappointed; the Democratic candidate read a two-hour speech from a manuscript, wishing to look statesmanlike, and fearing that if he spoke without a script, the press would misrepresent his words. This advocacy brought him contributions from silver mine owners in his successful re-election bid in 1892. Gold Democrats had success in the Northeast, and little elsewhere. "Silver Dick" Bland was seen as the elder statesman of the silver movement; he had originated the Bland-Allison Act of 1878, while Boies' victories for governor in a normally Republican state made him attractive as a candidate who might compete with McKinley in the crucial Midwest. See. [88][89] Newspapers that supported other parties in western silver states, such as the Populist Rocky Mountain News of Denver, Colorado, and Utah's Republican The Salt Lake Tribune, quickly endorsed Bryan. [36] Historian James Barnes wrote of Bryan's preparations: The Nebraskan merely understood the political situation better than most of those who might have been his rivals, and he took advantage in a legitimate and thoroughly honorable manner of the existing conditions. Roosevelt was extremely popular as president, and many thought he might reconsider and run as 1908 neared. After running unsuccessfully for the Senate in 1894, Bryan returned to Nebraska and became editor of the Omaha World-Herald. After graduating from Illinois College, Bryan earned a law degree from the Union College of Law in Chicago in 1883. William Jennings Bryan (March 19, 1860 - July 26, 1925) was an American lawyer, orator and politician. Although defeated in the election, Bryan's campaign made him a national figure, which he remained until his death in 1925. His father, Silas, was a dedicated Jacksonian Democrat and a successful lawyer who served in various local elected positions and passed on his politics to his son. Bryan was born on March 19, 1860 in the small town of Salem, Illinois. The 1896 campaign, which took place during an economic depression known as the Panic of 1893, was a realigning election that ended the old Third Party System and began the Fourth Party System. I will not aid them to press down upon the bleeding brow of labor this crown of thorns."[26]. An ardent read more, A native of Tennessee, Al Gore served as vice president of the United States under President Bill Clinton from 1992 to 2000, after a long tenure in the U.S. House of Representatives and U.S. Senate. Men and women threw their hats into the air, not caring where they might come down. The main candidates headquartered at the Palmer House, their rooms often crowded as they served free alcoholic drinks. [96][97] According to Stanley Jones, "the Democratic endorsement of silver and Bryan at Chicago precipitated the disintegration" of the Populist Party;[98] it was never again a force in national politics after 1896. The election of 1896 is seen as the beginning of a new era in American politics, or a "realignment" election. [87] Large numbers of traditionally Democratic newspapers refused to support Bryan, including the New York World, whose circulation of 800,000 was the nation's largest, and major dailies in cities such as Philadelphia, Detroit, and Brooklyn. Soon afterwards, the delegates, bored, shouted for a speech from Bryan, but he was not to be found. William Jennings Bryan (1860-1925), the U.S. congressman from Nebraska, three-time presidential nominee and secretary of state, emerged near the end of the 19th century as a leading voice in the. Bryan campaigned heavily on a platform of free silver in 1896, and continued that trend into the election of 1900. The answer was simple, Bryan told Abbothe had prepared a speech that would stampede the convention. [99], Even before their convention in late July, the Populists faced dissent in their ranks. The economy failed to improve, and when the President in 1894 sent federal troops to Illinois to break up the Pullman Strike, he outraged even more Democrats. Bland maintained his lead on the second and third ballots, but on the fourth, with the convention in a huge uproar, Bryan took the lead. "[109], Bryan set the formal acceptance of his nomination for August 12 at New York's Madison Square Garden; he left Lincoln five days earlier by rail, and spoke 38times along the way, sometimes from the trackside in his nightgown. [105], After the Democratic convention, Bryan had returned triumphantly to Lincoln, making speeches along the way. "[143], Michael Kazin, Bryan's biographer, notes the many handicaps he faced in his 1896 campaign: "A severe economic downturn that occurred with Democrats in power, a party deserted by its men of wealth and national prominence, the vehement opposition of most prominent publishers and academics and ministers, and hostility from the nation's largest employers". Didn't want to split pro-silver vote Populists 1892 Former Governor William McKinley, the Republican candidate, defeated Democrat William Jennings Bryan. Historian James A. Barnes deemed the DNC's vote immaterial; once the convention met on July 7, it quickly elected a silver man, Virginia Senator John Daniel, as temporary chairman and appointed a committee to review credentials friendly to the silver cause. The Republicans, at the request of their nominee for president, former Ohio governor William McKinley, included a plank in their party platform supporting the gold standard. "[131], The South and most of the West were deemed certain to vote for Bryan. As the economic downturn continued, free silver advocates blamed its continuation on the repeal of the silver purchase act, and the issue of silver became more prominent. A devout Protestant, his populist rhetoric and policies earned him the nickname the Great Commoner. In his later years, Bryan campaigned against the teaching of evolution in public schools, culminating with his leading role in the Scopes Trial. William Jennings Bryan (1860-1925), the U.S. congressman from Nebraska, three-time presidential nominee and secretary of state, emerged near the end of the 19th century as a leading voice in the Democratic Party and the nation. According to Stanley Jones, The period of this tour, in the return from New York to Lincoln, was the high point of the Bryan campaign. [46], Just before the convention, the Democratic National Committee (DNC) made initial determinations of which delegations were to be seatedonce convened, delegates would make the final determination after the convention's Credentials Committee reported. Sherman's act required the government to pay out gold in exchange for silver and paper currency, and through the early months of 1893 gold flowed out of the Treasury. In the speech, Bryan, who was from . [2][3], While attending law school from 1881 to 1883, Bryan was a clerk to former Illinois senator Lyman Trumbull, who influenced him in a dislike for wealth and business monopolies. [20], In March 1895, the same month he left Congress, Bryan passed his 35thbirthday, making him constitutionally eligible for the presidency. In late 1894, pro-silver Democrats began to organize in the hope of taking control of the party from Cleveland and other Gold Democrats and nominating a silver candidate in 1896. His widow accompanied his body in a special train car to Washington, where he was buried in Arlington National Cemetery. [32] Once delegates were selected, Bryan wrote to party officials and obtained a list; he sent copies of his speeches, clippings from the World-Herald, and his photograph to each delegate.[28]. Bryan, who was still in Congress, spoke eloquently against the repeal, but Cleveland forced it through. Loyal to Cleveland, they wanted to nominate him. A large banner outside the Clifton House proclaimed the presence of Nebraska's delegation headquarters, but did not mention Bryan's campaign, which was run from Nebraska's rooms. All Rights Reserved. Senator Jones felt compelled to spend five minutes (granted by the gold side), stating that the silver issue crossed sectional lines. Those that served principally as agricultural centers or had been founded along the railroad favored Bryan. Bryan was present when it was announced that his delegation would not be initially seated; reports state he acted "somewhat surprised" at the outcome. William Jennings Bryan on the Stand Calling Bryan to the stand was a shock for the court. Writer Edgar Lee Masters, who witnessed Bryan's speech, remembered, "Suddenly I saw a man spring up from his seat among the delegates and with the agility and swiftness of an eager boxer hurry to the speaker's rostrum. In 2007, Gore won a Nobel read more, Considered the greatest English-speaking writer in history and known as Englands national poet, William Shakespeare (1564-1616) has had more theatrical works performed than any other playwright. [24][25] Several times, in his addresses, Bryan repeated variations on lines he had spoken in Congress in December 1894, decrying the gold standard, "I will not help to crucify mankind upon a cross of gold. [12] Advocates believed these proposals would lead to prosperity, while opponents warned that varying from the gold standard (which the United States had, effectively, used since 1873) would cause problems in international trade. The Democrats nominated Arthur Sewall, a wealthy Maine banker and shipbuilder, for vice president. If this robbery is permitted, the farmer will be ruined, and then the cities will suffer. Morgan noted, "full organization, [Republican] party harmony, a campaign of education with the printed and spoken word would more than counteract" Bryan's speechmaking. In 1925, high school biology teacher John Scopes went on trial in Tennessee as a test of the first state law banning the teaching of evolution. Coletta noted the problems faced by Bryan in obtaining the nomination, and how his groundwork helped overcome them: The maneuver that paid Bryan highest dividends was his fifteen months of missionary work in behalf of silver and cultivation of the Chicago delegates. Bryan believed he could use the coalition-building techniques he had applied in gaining election to Congress, uniting pro-silver forces behind him to gain the Democratic nomination and the presidency. A bowery had been built for the Fourth of July picnic and dance. "[16], Even as Cleveland took office as president in March 1893, there were signs of an economic decline. 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