The Cross of Gold vs. William McKinley

William Jennings Bryan is the grandfather of the modern Democratic Party. His initial candidacy for the presidency in 1896 laid the groundwork for the left-leaning policies that have come to dominate Democratic policies today. His candidacy incorporated the Progressive Party into the Democratic coalition.
There was no clear front-runner at the 1896 Democratic Convention. Grover Cleveland was retiring. William Jennings Bryan electrified the convention with his "Cross of Gold" Speech. He believed that remaining on the gold standard hurt the economy and the little guy. He wanted to use silver as well as gold to back currency and lower tariffs. Bryan's oratorical skills combined with the incorporation of the populists led to his nomination.
The Republicans decided to nominate Governor William McKinley of Ohio. McKinley was a solid conservative, backed the gold standard, and supported a high tariff. While in Congress, he helped pass the McKinley Tariff. This raised tariff rates considerably. McKinley had the backing of GOP party boss Mark Hanna. Hanna was the Karl Rove of his day and had many business ties that helped McKinley raise a record amount of money.
Once the general election began, Bryan would travel the country campaigning while McKinley sat home on his porch and let people come to him. It was a major contrast in styles. McKinley was older and a Civil War vet while Bryan was 36 and very energetic. Bryan's rhetoric scared big business and money came pouring McKinley's way.
In the end, Bryan was dragged down by three factors. First, his radical rhetoric scared voters to McKinley. This would be a hallmark of late 20th century elections when Democratic extremism scared many voters to the Republicans. Second, the Republicans outspent the Democrats by a wide margin. Third, the country was in a depression and the Democrats were the party in the White House. The depression was not Cleveland's fault, but he did little to stop the suffering and got the blame.
Four years later, the Depression was over and America was a world power for the first time. The same two candidates went at it. Bryan ran on the same issues as 1896 even though they were outdated. He also campaigned against the popular Spanish-American War and wanted to give back America's gains. Most Americans disagreed. On the other hand, McKinley campaigned on the strong economy and new prestige abroad. He promised "Four More Years of a Full Dinner Pail" which sounds remarkably similar to the Reagan Campaign of 1984. Additionally, the GOP placed war hero Theodore Roosevelt on the ticket. Roosevelt was a force of nature and campaigned as vigorously as Bryan. The Democrats had no chance.
McKinley extended his electoral victory from 1896. Bryan was a two time loser, but his ideas took hold in the Democratic Party and would come to fruition in the Wilson campaign. Also, Bryan's Progressivism is eerily similar to today's so-called "Religious Right." He tied moralist themes, religion, and liberalism into a potent message. Bryan would remain on the scene well into the 1920's while McKinley would be assassinated by an anarchist in late 1901.