<span>The Depression spread rapidly around the world because the responses made by governments were flawed. When faced with falling export earnings they overreacted and severely increased tariffs on imports, thus further reducing trade. Moreover, since deflation was the only policy supported by economic theory at the time, the initial response of every government was to cut their spending. As a result consumer demand fell even further. Deflationary policies were critically linked to exchange rates. Under the Gold Standard, which linked currencies to the value of gold, governments were committed to maintaining fixed exchange rates.</span>
Using the history, we got republican presidential candidate William Mckinley won the 1896 election.
The 1896 Republican National Convention which convened at the Wigwam, a temporary structure in St. Louis, on the June 16. With most credentials battles settled in the McKinley's favor, the roll of delegates drawn up by the RNC heavily favored the Ohioan, though the Reed, Allison, Morton and Quay remained in race. The credentials report served as the test vote, which the McKinley forces won easily. Hanna, who was the delegate from Ohio, was in full control of the convention.
Hence, the republican presidential candidate William Mckinley a. won the 1896 election.
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