Republican William McKinley, the presidential candidate, was supported by business owners who wanted to maintain the gold standard.

That is correct. During the presidential election campaign of 1896, Republican candidate William McKinley received significant support from business owners and the financial sector who favored the gold standard. The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. Under the gold standard, the government can issue currency only if it has enough gold reserves to back it.

Business owners and those with capital interests advocated for the gold standard because it provided a stable currency, which is valued for international trade. It also helped protect their investments against inflation since the supply of money was limited to the amount of gold held by the government. This policy was believed to encourage investment, economic growth, and stability. McKinley's campaign emphasized upholding the gold standard, while his Democratic opponent, William Jennings Bryan, promoted bimetallism (using both gold and silver as currency standards) which was believed to inflate the currency and help debtors pay off debts with cheaper money.