1896 United States presidential election

Presidential elections were held in the United States on November 3, 1896. Former Governor William McKinley, the Republican nominee, defeated former Representative William Jennings Bryan, the Democratic nominee. The 1896 campaign, which took place during an economic depression known as the Panic of 1893, was a political realignment that ended the old Third Party System and began the Fourth Party System. Incumbent Democratic President Grover Cleveland did not seek election to a second consecutive term (which would have been his third overall), leaving the Democratic nomination open. An attorney and former congressman, Bryan galvanized support with his Cross of Gold speech, which called for reform of the monetary system and attacked business leaders as the cause of ongoing economic depression. The 1896 Democratic National Convention repudiated the Cleveland administration and nominated Bryan on the fifth presidential ballot. Bryan then won the nomination of the Populist Party, which had won several states in 1892 and shared many of Bryan's policies. In opposition to Bryan, some conservative Bourbon Democrats formed the National Democratic Party and nominated Senator John M. Palmer. McKinley prevailed by a wide margin on the first ballot at the 1896 Republican National Convention. Since the onset of the Panic of 1893, the nation had been mired in a deep economic depression, marked by low prices, low profits, high unemployment, and violent strikes. Economic issues, especially tariff policy and the question of whether the gold standard should be preserved for the money supply, were central issues. McKinley forged a conservative coalition in which businessmen, professionals, prosperous farmers, and skilled factory workers turned off by Bryan's agrarian policies were heavily represented. He was strongest in cities and in the Northeast, Upper Midwest, and Pacific Coast. Republican campaign manager Mark Hanna pioneered many modern campaign techniques, facilitated by a $3.5 million budget. Bryan presented his campaign as a crusade of the working man against the rich, who impoverished America by limiting the money supply. He said that silver was in ample supply and if coined into money would restore prosperity while undermining the illicit power of the money trust. Bryan was strongest in the South, rural Midwest, and Rocky Mountain states. His moralistic rhetoric and crusade for inflation (to be generated by the institution of bimetallism) alienated conservatives. Bryan campaigned vigorously throughout the swing states of the Midwest, while McKinley conducted a front porch campaign. At the end of an intensely heated contest, McKinley won a majority of the popular and electoral vote. Bryan won 46.7% of the popular vote and Palmer just under 1%. Turnout was very high, passing 90% of the eligible voters in many places. McKinley became the first Republican to ever carry Kentucky in a presidential election breaking into the Solid South, and Bryan the first Democrat to ever carry Nebraska and Kansas (as well as several other western states that had only recently been admitted to the union) in a presidential election. The Democratic Party's repudiation of its Bourbon faction largely gave Bryan and his supporters control of the party until the 1920s, and set the stage for Republican domination of the Fourth Party System. The four elections from 1884 to 1896 saw the incumbent party defeated each time; the only other such streak was from 1840 to 1852.