William McKinley Quotes
The public mind can, therefore, repose in reasonable security, while business will proceed without apprehension of serious and sudden changes, so disturbing to the commercial world and so distracting to the business man.
In 2011 much of the business world complained that they were apprehensive because they did not know how the polarization between the two parties would be resolved. Uncertainty was they felt bad. In this quotation, the president, speaking to business men, assured them that there would be no unexpected changes. His party controlled Congress and fiscally they were very conservative and pro business. Therefore the president could boast that he would not change anything even though the nation was in the midst of a depression. In the 21st century, almost no politician could be successful unless he/she promised to change things. Ironically, within three years, the businessmen of America would be greatly disturbed by change. McKinley was assassinated and Theodore Roosevelt became President and started reforming much of American business from Anti-Trust to government regulation of food. Not all Republicans were committed to no change, and the Roosevelt era was one of great
William McKinley, 1843-1901, 25th President of the United States (Republican, OH), Speech, Banquet of the Board of Trade and Associated Citizens, Savannah, Georgia, December 17, 1898
Sourced by: Eigen's Political and Historical Quotations
It is this principle that makes any kind of economic reform so difficult to implement. People do not want to lose what they have obtained and do not want to risk any change.
Nasir Khusaro Hamiduddin Abu Muin Nasir bin Khusaro bin Harith al-Qubandiyani
The result was regulation of the banks and the creation of the SEC to regulate the stock market, However, over the years, the regulations were not able to keep up with the sophisticated development of new forms of investments and financial instruments and the financial industry were able to speculate with other people’s money in ways that FDR and his reformers never imagined. Finally, even the regulation that did exist was weakened by the policies of the George W. Bush administration and the combination brought about the Great Recession of 2008 where the profits from excess speculation were privatized and the losses, socialized with the taxpayer and the American worker bearing the brunt while most of the speculators were bailed out and made more money than ever. The Obama administration tried to reform the situation, but was unable to put an end to the legal speculation with other people’s money or of having institutions that were “too big to fail.”
William McKinley was the 25th president of the United States, serving from 1897 until his assassination in 1901. McKinley was president during the Spanish–American War of 1898, raised protective tariffs to boost American industry, and rejected the expansionary monetary policy of free silver, keeping the nation on the gold standard.
