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The 1896 presidential election was the first with a conservative versus liberal theme in the way in which these terms are now understood. Republican [[William McKinley]] won using the pro-business slogan "[[sound money]] and protection," while Bryan's anti-bank populism had a lasting effect on economic policies of the Democrat Party.
 
The 1896 presidential election was the first with a conservative versus liberal theme in the way in which these terms are now understood. Republican [[William McKinley]] won using the pro-business slogan "[[sound money]] and protection," while Bryan's anti-bank populism had a lasting effect on economic policies of the Democrat Party.
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[[William Graham Sumner]], [[Yale University|Yale]] professor (1872-1910) and polymath, vigorously promoted a libertarian conservative ethic. After dallying with [[Social Darwinism]] under the influence of [[Herbert Spencer]], he rejected [[evolution]] in his later works, and strongly opposed imperialism. He opposed monopoly and [[paternalism]] in theory as a threat to equality, democracy and middle class values, but was vague on what to do about it.<ref>Curtis, Bruce. "William Graham Sumner 'On the Concentration of Wealth.'" Journal of American History 1969 55(4): 823-832.</ref>
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[[William Graham Sumner]], [[Yale University|Yale]] professor (1872–1910) and polymath, vigorously promoted a libertarian conservative ethic. After dallying with [[Social Darwinism]] under the influence of [[Herbert Spencer]], he rejected [[evolution]] in his later works, and strongly opposed imperialism. He opposed monopoly and [[paternalism]] in theory as a threat to equality, democracy and middle class values, but was vague on what to do about it.<ref>Curtis, Bruce. "William Graham Sumner 'On the Concentration of Wealth.'" Journal of American History 1969 55(4): 823-832.</ref>
    
===Early 20th century===
 
===Early 20th century===
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