Grover Cleveland became the twenty-fourth President of the United States on March 4, 1893.
March on Washington
In the spring of 1894, 500 of the nation's unemployed led by James Coxey, marched on the Capitol. They were met by police in riot gear who promptly arrested Coxey and then proceeded to break up the gathering by way of force.
Pullman Strike
When a strike by workers of the Pullman Palace Car Company began to disrupt the service of the Chicago Post Office, President Cleveland ordered federal troops into the area to put down the strikers, despite the objections of John H. Altgeld, the governor of Illinois.
J.P. Morgan Bails out Federal Government
The economy got worse as the federal gold reserve was approaching bankruptcy. Congress issued a bond that was designed to restore the nation's gold reserve, but the measure did very little. Early in 1895, a group of bankers lead by J.P. Morgan co-signed a bond issue guaranteeing the federal government $62 million to be paid in gold.
Venezuela's Dispute with British Guiana
In 1895 Secretary of State Richard Olney convinced Britain to submit to an arbitrary third party in settling its territorial dispute with Venezuela. The matter was finally settled in 1899.
Legislation
Annexation of Hawaii
In March of 1893, President Cleveland blocked the ratification of the treaty drawn up by the Harrison Administration which provided for the annexation of Hawaii.
Sherman Silver Purchase Act Repealed
Shortly after President Cleveland took office for the second time, a severe financial crash plunged the nation into a depression. President Cleveland believed that the crash had been the result of inflation and a lack of confidence in the dollar, brought about by the instituting of silver based currency. In October of 1893, the President called Congress in to an emergency session and had the Sherman Silver Purchase Act repealed. President Cleveland's actions split the Democratic Party, but did not ease the depression.
