467. Election of 1892.--One result of this great increase in the silver coinage was to alarm business men throughout the country. Business constantly declined. Every one who could lessened his expenses as much as possible. Mill owners and railroad managers discharged their workers or reduced their wages. Harrison and Cleveland were again the Republican and Democratic candidates for the presidency. As is always the case, the party in power was held to be responsible for the hard times. Enough voters turned to Cleveland to elect him, and he was inaugurated President for the second time (March 4, 1893). [Sidenote: Scarcity of money.] [Sidenote: Repeal of the Sherman Law.] [Sidenote: Wilson tariff.] 468. Silver and the Tariff.--In the summer of 1893 there was a great scarcity of money. Thousands of people withdrew all the money they could from the banks and locked it up in places of security. But Congress repealed the Sherman Silver Law and put an end to the compulsory purchase of silver and the coinage of silver dollars. This tended to restore confidence. The Democrats once more overhauled the tariff. Under the lead of Representative Wilson of West Virginia they passed a tariff act, lowering some duties and placing many articles on the free list. [Sidenote: Chicago Exhibition, 1893.] 469. The Chicago Exhibition, 1893.--The four hundredth anniversary of the Columbian discovery of America occurred in October, 1892. Preparations were made for holding a great commemorative exhibition at Chicago. But it took so long to get everything ready that the exhibition was not held until the summer of 1893. Beautiful buildings were erected of a cheap but satisfactory material. They were designed with the greatest taste, and were filled with splendid exhibits that showed the skill and resources of Americans, and also with the products of foreign countries. Hundreds of thousands of persons from all parts of the country visited the exhibition with pleasure and great profit. No more beautiful or successful exhibition has ever been held. [Illustration: THE FISHERIES BUILDING, WORLD'S FAIR, CHICAGO.] [Sidenote: William McKinley.] [Sidenote: W.J. Bryan.] [Sidenote: McKinley elected President, 1896.]