Before the Republican convention, McKinley had been a "straddle bug" on the currency question, favoring moderate positions on silver such as accomplishing bimetallism by international agreement. In the final days before the convention, McKinley decided, after hearing from politicians and businessmen, that the platform should endorse the gold standard, though it should allow for bimetallism through coordination with other nations. Adoption of the platform caused some western delegates, led by Colorado Senator Henry M. Teller, to walk out of the convention. However, compared with the Democrats, Republican divisions on the issue were small, especially as McKinley promised future concessions to silver advocates.[95][96][97]
The bad economic times had continued, and strengthened the hand of forces for free silver. The issue bitterly divided the Democratic Party; President Cleveland firmly supported the gold standard, but an increasing number of rural Democrats wanted silver, especially in the South and West. The silverites took control of the 1896 Democratic National Convention and chose William Jennings Bryan for president; he had electrified the delegates with his Cross of Gold speech. Bryan's financial radicalism shocked bankers—they thought his inflationary program would bankrupt the railroads and ruin the economy. 