the cleveland administration responded to the panic of 1893 by
Panic of 1893 One of the first clear signs of trouble came on February 20, 1893,[4] thirteen days before the inauguration of U.S. president Grover Cleveland, with the appointment of receivers for the Philadelphia and Reading Railroad, which had greatly overextended itself.[5] Upon taking office, Cleveland dealt directly with the Treasury crisis,[6] and successfully convinced Congress to repeal the Sherman Silver Purchase Act, legislation Cleveland felt was mainly responsible for the economic crisis.[7]
Emergency Tariff of 1921 The Emergency Tariff of 1921 of the United States was enacted on May 27, 1921. Due to the Underwood Tariff passed during the administration of President Woodrow Wilson, Republican leaders in the United States Congress rushed to create a temporary measure to ease the plight of farmers until a better solution could be put into place. With growing unrest in the American public, President Warren G. Harding and Congress passed the tariff.