1896 United States presidential election: McKinley defeats Bryan

Background. Following the 1892 defeat of Benjamin Harrison, Ohio Governor William McKinley became the overwhelming favorite for the Republican nomination in 1896. On the Democratic side, William Jennings Bryan, a dominant force in his party, embarked after the 1894 elections on a nationwide speaking tour designed to boost free silver, move the party away from the conservative policies of the Cleveland administration, and lure Populists and free silver Republicans into Democratic ranks.

Campaign Themes. The election was defined by economic depression and monetary policy. McKinley advocated for "sound money" and the gold standard, promising that high tariffs would restore prosperity. Bryan attacked the gold standard and eastern moneyed interests, crusading for inflationary policies based on silver coinage. His "Cross of Gold" speech at the Democratic convention electrified delegates and defined the campaign's ideological divide.

Political Realignment. Historians regard the 1896 election as a realigning election that ended the old Third Party System and began the Fourth Party System. McKinley's victory established a Republican-dominated era, triumphing his view of a stronger central government building American industry through protective tariffs and a gold-based dollar. This shift marked the end of the post-Civil War political stalemate.