The following accurately describes Cleveland’s response to the depression of 1893: He acted too conservatively, causing the weak economy to have less money in circulation when it needed more. Cleveland only did little during the depression of 1893.
EXPLANATION:
The depression of 1893 provided a great financial crisis toward the economic recession. It was one of the major financial downturns, that weakened the economy and shocked the undermined public confidence. Thousands of businesses were ruined, more than four million workers left unemployed, European investors took back their funds from the USA. Everything was in chaos, but Cleveland did little.
Cleveland believed that the business cycle was natural and it should not be interfered by the politicians. Cleveland thought it was not politicians’ area to handle the problems in economic. When he was the president, nation’s reserves dipped below $100 million. This become the psychological barrier whose breaching weakened public trust. Cleveland also acted as if he rescued the gold standard, in fact he divided the Democratic Party. He also alienated the silver forces of the West and South.
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1. Why was the Cleveland massacre significant in the information of standard oil? brainly.com/question/3299499
KEYWORDS: Cleveland, the depression 1983
Subject: History
Class: 7-9
Subchapter: The depression of 1893
