Grover Cleveland was the 22nd and 24th President of the United States, serving from 1885 to 1889 and 1893 to 1897. He was the only president to serve two non-consecutive terms, and he is known for his commitment to the principles of limited government and states' rights. During his first term, he vetoed the Sherman Silver Purchase Act, which led to a severe economic depression, and he also signed the Interstate Commerce Act, which established the Interstate Commerce Commission to regulate the railroad industry. In his second term, he faced the Panic of 1893, which he responded to by issuing a presidential proclamation calling for a national bank holiday and suspending payments on government bonds. Despite his efforts, the economy continued to struggle, and he lost the support of his party and was not re-nominated for a third term.