Which Presidential Election was the Least Important in American history?

[True Federalist (진정한 연방 주의자)]

1820

[True Federalist (진정한 연방 주의자)]

Any of Cleveland's three elections. In the era after Reconstruction and before Bryan, there was really nothing at stake.

If Cleveland would have been reelected in 1888, there would probably not have been a Panic of 1893.

What.

The severity of the Panic of 1893 to a large extent was due to the speculative bubble the Silver Republicans fed during Harrison's term as President.  While there likely still would have been a Panic of 1893 anyway, since it was caused in part by foreign factors, with no Sherman Silver Purchase Act, the bubble would not have been as severe, and foreign bond holders wouldn't have been worried that we might decide to end bimetallism by adopting a silver standard instead of a gold standard.

The Panic of 1893 has a lot of eerie parallels to what is happening now.  A speculative bubble bursts, leaving a lot of people unemployed and causing quite a few people to walk away from their homes because they can afford them.

[True Federalist (진정한 연방 주의자)]

Out of curiosity, what foreign factors helped cause the Panic of 1893?

Europe had for several years been in a recession/depression of its own.  That caused European holders of American securities to sell them and repatriate the hard currency (i.e., gold as Europe had abandoned bimetallism -- for them gold and silver were not equivalent) back home.  That put pressure on on the U.S. dollar as we inflated the currency with silver dollars even as gold dollars were leaving the system.  Eventually the U.S. Treasury reached the minimum gold reserves it was requires to maintain and was unable to exchange silver certificates with gold specie at the official 16:1 ratio.  While not the sole factor in the Panic of 1893, the effort to maintain bimetallism at a ratio that benefited silver miners certainly made it worse.