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The United States Republican Party is the second oldest currently existing political party in the United States after its great rival, the Democratic Party. It emerged in 1854 to combat the Kansas Nebraska Act which threatened to extend slavery into the territories, and to promote more vigorous modernization of the economy. It had almost no presence in the South, but in the North it enlisted most former Whigs and former Free Soil Democrats to form majorities, by 1858, in nearly every Northern state. With the election of Abraham Lincoln in 1860, and its success in guiding the Union to victory and abolishing slavery, it came to dominate the national scene until 1932. The Republican Party was based on northern white Protestants, businessmen, professionals, factory workers, wealthier farmers, and blacks. It was pro-business, supporting banks, the gold standard, railroads, and high tariffs to protect heavy industry and the industrial workers. Under William McKinley and Theodore Roosevelt, it emphasized an expansive foreign policy. The GOP ("Grand Old Party"), as it is often called, became a minority after failing to reverse the Great Depression in 1932. The New Deal Coalition led by Democrat Franklin D. Roosevelt came to power. When that coalition collapsed in the middle 1960s, Republicans came back, winning seven of the 10 presidential elections 1968 to 2004. The GOP relied increasingly on its new base in the white South after 1968, especially because of its new strength among evangelical Protestants. The key leader in the late 20th century was Ronald Reagan, whose conservative pro-business policies for less government regulation, lower taxes, and an aggressive foreign policy still dominate the party.
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