US History timeline & concept chart: 1860s-1900: Difference between revisions

Line 534:

== 1890s Cleveland & McKinley administrations ==

== 1890s Harrison, Cleveland & McKinley administrations ==

{| class="wikitable"

! '''PERIOD / TIMELINE'''

Line 541:

|- style="vertical-align:top;"

|

* ~~timeline here~~ * 1891 Queen Liliuokalani crowned ruler of Hawaii

* Benjamin Harrison presidency

** however, American sugar planters force he abdication and take over Hawaii

* Grover Cleveland presidency,

* US overseas expansion & imperialism

* 1894 Wilson-Gorman Tariff

* >>

Line 567:

Line 569:

||

~~<nowiki>~~=== tariff ~~disputes =~~==~~</nowiki>~~

===== Panic of 1893 =====

* background causes

** US silver mines flooded markets with silver, which led to price inflation, especially for commodities (prices up), which encouraged additional land speculation

*** the 1890 Sherman Silver Purchase Act required that the US Government purchase silver, thus driving up the price of silver

*** farmers and miners had promoted the idea

**** farmers want inflation to reduce cost of debts, miners wanted higher silver prices

** speculative (risky investment) bubbles in Argentina, South Africa and Australia

** 1890 crisis in Argentina, which had received much US and European investment

*** wheat crop failure & attempted coup d'etat

** Europeans & domestic investors turned to US gold over "paper money"

** US railroad over-expansion

* direct causes

** in 1893, just before President Cleveland took office , the Philadelphia & Reading Railroad (yes, the "Reading" on the Monopoly board!) failed, causing '''bank runs''' and "credit crunch" (banks call loans for immediate repayment and don't offer new loans)

**

===== Tariffs =====

* Democrats were traditionally low-tariff advocates and Republicans, from the Whig tradition, advocated "protective tariffs"

** to "protect" domestic products against foreign competition

** l'''ow tariffs''' = pro-consumer, pro-importers (especially agriculture-based economies, exported crops and imported goods)

** '''high tariff'''s = pro-industry, pro-local production; also called '''protective tariffs'''

** most Federal revenue was from tariffs

* Europeans used colonial possessions for home markets and protect themselves against competition via protective tariffs

* US industrialization amplified the debates

* '''McKinley Tariff of 1890'''

**

* '''Wilson-Gorman Tariff, 1894'''

** US overseas trade led to more competition with Europeans across the world

*** Democrats reduced rates

*** imposed a 2% income tax to make up for lost revenue from lower tariffs

**** the Supreme Court ruled the income tax unconstitutional

***** not a "direct tax" since the income tax varied by income

***** (the Constitution required that a "direct tax" be equally applied to all citizens)

***** in the landmark case ''Pollock v. Farmers' Loan & Trust Co.'' the Supreme Court ruled that the income tax was an "unapportioned direct tax"

* Wilson-Gorman Tariff, 1894

** reduced rates

** imposed income tax to make up for lost revenue from lower tariffs

** the Supreme Court ruled the income tax unconstitutional

*** not a "direct tax" since the income tax varied by income

*** (the Constitution required that a "direct tax" be equally applied to all citizens)

*** in the landmark case ''Pollock v. Farmers' Loan & Trust Co.'' the Supreme Court ruled that the income tax was an "unapportioned direct tax"

*

* >>details

===== American imperialism =====

==== American imperialism ====

* background

* industrialization empowered American foreign trade and investments

* Alaska territory was the final "American frontier"

* decline of Spanish colonial empire, only Cuba and Puerto Rico remained colonies after Latin America independence movements in the 1820s

** Cuban independence movements sought & received much support in US

* '''Alfred Mahan “Influence of Sea Power”''' (1890)

** Mahan argued for need for navy to enforce access to foreign ports for trade

** his circular logic: strong navy allows for imperialism which creates need for strong navy

** coaling stations in Hawaii allowed for more transit across the Pacific

* annexation of Hawaii

* '''annexation of Hawaii, 1898'''

** 1891 Queen Liliuokalani crowned ruler of Hawaii

** Hawaii was an important supply source for ships crossing the Pacific

** with growth in steam power, Hawaii became even more important to American shippers

*** with growth in steam power, Hawaii became even more important to American shippers for trade with east Asia

** starting in 1819 and growing into 1870s, US missionaries and settlers established sugar plantations in Hawaii

** US tariffs exempted Hawaiian sugar (which led to growth in production), but in 1890, the <nowiki>'''MicKinley Tariff'''</nowiki> subsidized American sugar producers (gave them money to lower their prices), which made Hawaiian sugar more expensive, and created an economic crisis in Hawaii

** in 1891, American planters ~~seize power over~~ newly crowned Hawaiian Queen Liliuokalani

** in 1891, American planters forced abdication of newly-crowned Hawaiian Queen Liliuokalani

** Cleveland refused to recognize American annexation of Hawaii

** in 1898, the US officially annexed Hawaii as part of the settlement of the Spanish-American War (1898~~)Expanding Democracy or just capitalism? - Alfred Mahan “Influence of Sea Power” (1890~~)

** in 1898, the US officially annexed Hawaii as part of the settlement of the Spanish-American War (1898)

~~> argued for need for navy to enforce access to foreign ports for trade~~

~~> logic is: strong navy allows for imperialism which creates need for strong navy~~

~~> coaling stations in Hawaii in order to allow boats to cross the Pacific~~

~~>> to support American commerce w/ Asia~~

=== Spanish-American war, 1898 ===