Donald Trump, chairman and president of the Trump Organization and founder of Trump Entertainment Resorts, delivers remarks during the second day of the 40th annual Conservative Political Action Conference (CPAC) in March. Alex Wong/Getty Images hide caption

itoggle caption Alex Wong/Getty Images

Moderates triumphed at the '76 convention but their candidate, Ronald Reagan, lost the general election in the fall, Anthony Camerano/AP hide caption

itoggle caption Anthony Camerano/AP