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Flashcards in Test #2 Deck (17)
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1

William "Boss" Tweed

- has group "The Tweed Ring" in NY
- corrupt
- a political boss
- would hand out turkeys and hams a week before elections to help win
- corruption thru building projects
a) Tweed embezzled at least 40 mil and at most 200 mil

2

political boss

- someone who has immense power and influence

3

Grant's presidency

- 46 when going into White House
a) loved by Americans,
+ city of NY collected 105k for him (as a ty for winning the war)
+ IL bought him a house in his home town

4

Grant's Philosophy for Reconstruction

- favored a soft approach , wanting to "move on"
- his stance changed after guidance; wants to punish the South

5

First Term Foreign Affairs

- Cuba, 1870s
a) Cuba wants to revolt against Spain
b) Spanish seize a boat and kill 53 ppl, some of which were Americas
c) US negotiates a deal and is compensated for their losses
- 1871
a) British compensates US, giving 15.5 mil to pay back for damage of war

6

Election of 1872

- Republicans
a) Grant stays as candidate
b) ppl

7

During the election, it was said that Greeley was...

- an Atheist
- a communist
- a proponent for free love
- a vegetarian
- a cosigner of the bail bond of Jefferson Davis (the most grave accusation)

8

A month after the election...

- Greeley:
a) his wife dies
b) loses his jobs
c) has a nervous breakdown
d) placed in a sanitarium where he then dies
(election basically ruins his life)

9

Resumption Act

- withdrawal of Greenbacks from circulation + redemption of all paper currency
- in gold by 1879

10

Greenbacks

- paper money issued during the civil war
a) lost favor during the Depression of 1873

11

Depression of 1873

- war time economy gone
- profits down
- banks called in their loans
- 5000 business went bankrupt
- in NY unemployed fought the police

12

Whiskey RIng

- robbed US Treasury of millions in revenue
(Grant's private secretary)

13

Belmap

- Grant's secretary of war
- took bribes from Indian traders at army posts

14

Grant's minister in Britain...

- sold stock for bogus mining company to Englishmen

15

3 Positives of Grant's "Eight Long Years of Scandal"

- The period of Reconstruction was almost over, the North and South slowly beginning to come together
- Westward Expansion in full swing, industry booming
- Grant pushes Civil Service Reform
a) wanted to reform politicians, as they needed to change bc everyone is looking at the "Spoils System"

16

Jim Fist and Jay Gould

- try to corner the gold market (buy when price is low, sell when price goes up)
- Fist also steals millions from the Erie railroad
- Gould also swindles deals with many railroads (died with a will of 72m)

17

credit mobilar

- fake company
- created by stockholders of the Union Pacific Railroad
a) would end up paying themselves
- up to 13 congressmen believed to have taken part
(also believed a VP had 20 shares in stock)
- 2 members of Congress formally censored