Baltimore Polytechnic Institute January 4, 2016 A/A.P. U.S. History Mr. Green

Objectives: Describe the political corruption of the Grant administration and the mostly unsuccessful efforts to reform politics in the Gilded Age. Describe the economic crisis of the 1870s, and explain the growing conflict between hard-money and soft-money advocates. Explain the intense political partisanship of the Gilded Age, despite the parties’ lack of ideological difference and poor quality of political leadership. AP Focus The post–Civil War era is rife with corruption, graft, and influence- peddling. Corruption is rampant at the local and state levels as well. The infamous New York City political party machine, known as the Tweed Ring, for example, bilks the city and state out of millions of dollars. In an attempt to clean their own house, the Republicans take steps to lower the protective tariff, which many consider unreasonably high and beneficial to specific industries. In addition, to address the problem of nepotism and favoritism in attaining government employment, the Republicans pass modest civil-service reform legislation, such as the Pendleton Act.

CHAPTER THEMES Even as post–Civil War America expanded and industrialized, political life in the Gilded Age was marked by ineptitude, stalemate, and corruption. Despite their similarity at the national level, the two parties competed fiercely for offices and spoils, while doling out “pork-barrel” benefits to veterans and other special interest groups. The serious issues of monetary and agrarian reform, labor, race, and economic fairness were largely swept under the rug by the political system, until revolting farmers and a major economic depression beginning in 1893 created a growing sense of crisis and demands for radical change.

Distribute Election Chart 1868, 1872, 1876, 1880

What do you think the Gilded Age is about? Describe what it means to have something gilded.

The notion that a good general will make a good president continues with the election of Grant Republicans nominate Grant in 1868 Continued Reconstruction under military watch Democrats nominate Horatio Seymour in 1868 redemption in greenbacks Grant won 214 to 80 in the Electoral College 3,013,421 to 2,706,829 in the Popular vote Many whites voted for Seymour Mississippi, Texas & Virginia not counted 500,000 former slaves voted and helped Grant win

September 24, 1869-”Black Friday” Jim Fisk & Jay Gould conspired to artificially raise the price of gold by working on President Grant to not release gold from the treasury This would keep supply limited and prices high Treasury released gold/sold it off and the price plummeted Tweed Ring-NYC Boss Tweed stole up to $200 million as the unofficial leader of NYC Done through corruption, bribery, fraudulent elections and Graft

Everyone, read the quote on page 540 and raise your hand when you are done to explain graft

Credit Mobilier scandal Union Pacific Railroad insiders created a construction company and paid themselves at inflated prices Before the scandal broke, they gave shares and payments to Congressmen and the Vice- President Whiskey Ring stole alcohol excise taxes from the Treasury Grant’s personal secretary involved, and he got out of it

1872 Election Liberal Republican Party-Horace Greeley Democrats endorsed Greeley Republicans-Ulysses S. Grant Grant won in the Electoral College 3,596,745 to 2,843,446 in the Popular vote

Panic of 1873 Too many railroad tracks, factories, mines, and grainfields There were not enough markets to accommodate all of this supply and profits sunk Loans went unpaid which impacted the world Freedmen’s Savings and Trust made unsecured loans and lost their depositors savings

As a result of farmers with high debt, they demanded cheap money/soft money greenbacks-issued during the civil war inflation would wipe out their debt Problem: Creditors wanted deflation to make the most profit on loaning money Grant convinced to support hard money, or money backed by gold Farmers then supported silver to back money since it was cheaper than gold Contraction-deflationary effect

Coined by Mark Twain in 1873 Close Presidential elections House of Representatives switched 6 times between High voter turnout-straight ticket voting Patronage was the lifeblood of the parties Stalwarts-Roscoe Conkling, U.S. Senator from NY James G. Blaine-Maine Fought over who controlled the spoils

 Continue Reading Chapter 23  5QQ on Wednesday