La création de la nation américaine; une histoire pour les écoles élémentaires . arted court sur les banques. Heureusement, la bankshad a appris par l'expérience du passé; chaque fois qu'une banque de gestion a été commencée, les autres l'ont fourni avec la nécessité de remplir ses paiements. Ainsi, bien que les temps aient été veryhard et de nombreuses entreprises industrielles ont été suspendues, il y a eu de nombreuses défaillances parmi les banques. 388 LA CRÉATION DE la NATION AMÉRICAINE de l'UE la Clause d'achat d'argent A Été Abrogée. 1893. — la crainte que thecountry ne dérive dans l'adoption de l'argent au lieu de l'or asthe base des affaires alarmé le people

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The making of the American nation; a history for elementary schools . arted runs on the banks. Fortunately, the bankshad learned by the experience of the past; whenever a run ona bank was started, the others supplied it with the necessarycash to meet its payments. So, although the times were veryhard and many industrial enterprises were suspended, there werenot many failures among the banks. 388 THE MAKING OF TUE AMERICAN NATION The Silver Purchase Clause Repealed. 1893. — The fear that thecountry would drift into the adoption of silver instead of gold asthe basis of business alarmed the people, especially in the East, and President Cleveland called the Congress in extra session inorder to discuss the repealing of that part of the Sherman Actthat compelled the Treasury to purchase so much silver. It veryquickly became a contest between the financial leaders of the Eastand the silver miners of the West. The former desired to havegold as the basis of business ; the latter desired to have silver.For the greater part, the farmers of the Middle West and the. The United States Mint at Philadelphia. South took sides with the silver miners. The Congress, never-theless, repealed the silver purchase clause of the Sherman Act. The Free Silver Coinage Movement. — Stopping the purchase ofsilver did not bring about prosperity ; on the contrary, it was amost severe blow to the Rocky Mountain states. Many mineswere closed, and about one hundred thousand employees becameidle. The depressed state of business likewise affected thefarming communities, and they also were in distress. Consequently, there arose a movement that had a very wide-spread following. It became a part of the policy of the Demo-cratic party, and twice caused the defeat of that party. It first INDUSTRIAL DEVELOPMENT 389 took form in a convention at Denver; then it took shape atChicago as the National Bimetallic League. The platform of theparty demanded, that if the government stopped the purchase ofsilver, then

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