chapter 2 Flashcards
Election of 1868
Republicans: Ulysses S. Grant (war hero) (no real experience)
Democrats: Seymour - Former of gov. of NY - winning would be difficult b/c rep.s would blame them for civil war - said Grant was stupid and a drunk
Outcome: Grant - 3 mil, 214 EV Seymour 2.7 mil, 80 EV
Credit Mobiler
Scandal, stockholders of Union Pacific RR company made fake company
Payed themselves from fed. grants to build their own RR
13 members of congress were involved
Boss Tweed
Political boss - ran all politics in NY
NY City & state - democrat
1873 went to jail (stole betw. 40-200 mil)
Bloody Shirt
Ohio tax collector beaten by KKK -> his bloody shirt goes to the Military -> give it to a republican senator who uses it to get votes for Grant -> Af. Americans vote in great numbers
Election of 1872
Rep: stay with Grant - people loved him
Lib Rep: Horace Greeley - get rid of corruption (purify the party)
Dem: no candidate - told dem. voters to vote for Greeley
Outcome: Grant - 286 EV Greeley - 63 EV
Whiskey Ring
1875 - Grant’s secretary robbed US treasury of millions in revenue from alcohol tax
Resumption Act
withdraw of greenbacks from circulation & redemption of all paper money into gold by 1879
Greenbacks
Paper money - issued during civil war - lost favor during the depression of 1873
Foreign Policy Problems
- Cuba: nationals rose up against Spain
- 1873: Spanish Navy seized an American vessel -> executed 53 passengers (some US citizens) -> Spain will pay damages
- 1871: Britain agree to pay 15.5 mil in damages for piracy during the civil war
Depression of 1873
Wartime economy was gone - profits went down - banks called in their loans - 5000 businesses went bankrupt - in NYC, unemployed battle the police
Grant’s Administration
- Reconstruction almost over -> Nrth & Sth started to come together
- Expansion west was moving forward -> industry was ready to boom despite depression
- Grant wanted civil service reform -> politicians now had to be careful
Seward’s Folly
Secretary of State (Seward) buys Alaska for 7.2 million to Russia
people laugh at him
gets Russia off the continent