d. A third political party in a system dominated by two major political parties
e. A social movement started by manufacturers in the Northeast
46. Why was the Panic of 1893 significant?
a. It began because of fears that banks were about to collapse, but it was largely a false
alarm and created no lasting national economic effects.
b. It began when the Philadelphia and Reading Railroad declared bankruptcy and grew into
the worst depression the nation had experienced.
c. Cleveland responded by immediately putting more money into circulation, which soon
remedied the situation and provided a model for future panics.
d. It largely affected big business owners and had little impact on workers and farmers,
resulting in very few strikes for a time of economic unrest.
e. It occurred because of unfavorable legislation that passed after Populist James B.
Weaver won the presidency over Cleveland.