Final answer:
The election of 1896 resulted in a significant victory for the Republican Party and William McKinley's presidency, while marking the decline of the Populist Party as a national political force. However, the platform and ideas of the Populists carried on and influenced future reforms during the Progressive Era.
Step-by-step explanation:
The result of the election of 1896 was that the Republican Party won a significant victory with William McKinley becoming President. While the popular vote was relatively close, McKinley's stance on maintaining the gold standard appealed to a wide range of voters who feared the economic implications of inflation tied to the silver standard, which was promoted by the Populist Party and their Democratic ally, William Jennings Bryan. Despite the electoral loss, the ideas of the Populist Party lived on, as many were adopted by the major parties in subsequent years. Ultimately, however, the Populist Party declined as a national political force following this election.
On the state and local level, the Populists elected twenty-two men to the House of Representatives and controlled five Senate seats. The Republican victory at the national level, paired with the practice of fusion politics, which diluted the Populist influence, led to the eventual disappearance of the Populist Party as a national entity by 1900. Nonetheless, Bryan and the goals of the Populists informed future political reforms during the Progressive Era despite the decline of the party itself.