Grant’s Election and Administration

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Presentation transcript:

Grant’s Election and Administration American History 1

The “Bloody Shirt” Elects Grant -US growth by 1870 -Period characterized by greed and corruption

Election of 1868 -Grant had enthusiastic support as a war hero -Democrats divided on currency issue -Grant won a close popular vote -supported by freedmen -uncounted votes in south

The Era of “Good Stealings” -Fisk-Gould gold scheme - 1869 -Grant’s brother-in-law

Tweed Ring - NYC - “Tammany Hall” -Bribery, graft, fraudulent elections -Helped immigrants -brought down by Thomas Nast and Samuel J. Tilden

Carnival of Corruption -Grant - not corrupt, but surrounded by it -Credit Mobilier (1872) - -Union Pacific Railroad - formed CM Construction -Hired themselves for high rates -bought off members of Congress & VP w/ stock

Whiskey Ring (1874-1875) -Excise taxes on whiskey -High-ranking gov’t officials skimming off top (millions of $) Belknap Scandal -Sec of War - resigned for taking bribes from companies supplying Indian reservations

Liberal Republican Revolt of 1872 Liberal Republicans nominated Horace Greeley -also ran on Democratic ticket -Grant won mud-spattered campaign for 2nd term

Depression, Deflation, and Inflation -Panic of 1873 - overspeculation -railroads, mines, factories, crops -bad loans -paper money (greenbacks) -Dropped coinage of silver dollars - 1873 “The Crime of ‘73” - when Congress stopped coining silver

Resumption Act of 1875 -withdraw greenbacks, resume gold -debtors and farmers against this -helped elect a Democratic House (1st since Civil War)

Pallid Politics in Gilded Age -Control of House, Senate, and Presidency - back and forth -few major issues -differences - ethnicity and religion -patronage

“Third Term Panic” November 7, 1874 - Thomas Nast Caption: "An Ass, having put on the Lion's skin, roamed about in the Forest, and amused himself by frightening all the foolish Animals he met with in his wanderings."--Shakespeare or Bacon

Compromise of 1877 and End of Reconstruction -2 sets of electoral returns from contested southern states -Compromise of 1877 -Hayes (Republican) could become president -All federal troops leave South -Ends Reconstruction; Democratic “Redemption”