<P> One of the first clear signs of trouble came on February 20 , 1893 , 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 . Upon taking office , Cleveland dealt directly with the Treasury crisis , and successfully convinced Congress to repeal the Sherman Silver Purchase Act , legislation Cleveland felt was mainly responsible for the economic crisis . </P>
<P> One of the first clear signs of trouble came on February 20 , 1893 , 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 . Upon taking office , Cleveland dealt directly with the Treasury crisis , and successfully convinced Congress to repeal the Sherman Silver Purchase Act , legislation Cleveland felt was mainly responsible for the economic crisis . </P>
the cleveland administration responded to the panic of 1893 by
the cleveland administration responded to the panic of 1893 by
repeal the Sherman Silver Purchase Act
repeal the Sherman Silver Purchase Act