The presidency of William McKinley began on March 4, 1897, when William McKinley was inaugurated and ended with his death on September 14, 1901. He is best known for leading the nation to victory in the Spanish–American War (1898), taking ownership of the Republic of Hawaii, purchasing the Philippines, Guam and Puerto Rico. On these achievements rest his substantial claims as an important figure in history of the United States. Gould reports, 'the nation experienced a wave of genuine grief at the news of McKinley's passing.' The stock market, faced with sudden uncertainty, suffered a steep decline—almost unnoticed in the mourning. It was then transported to the receiving vault at West Lawn Cemetery in Canton, to await the construction of the memorial to McKinley that was already being planned.