 As a reformer, Cleveland had such prestige that the like-minded wing of the Republican Party, called "Mugwumps", largely bolted the GOP presidential ticket and swung to his support in the 1884 election.As his second administration began, disaster hit the nation when the Panic of 1893 produced a severe national depression, which Cleveland was unable to reverse.It ruined his Democratic Party, opening the way for a Republican landslide in 1894 and for the agrarian and silverite seizure of the Democratic Party in 1896.