Chapter 23 outline - 1 Jessica Ot Chapter 23 The Gilded Age...

This preview shows page 1 - 3 out of 5 pages.

1 Jessica Ot Chapter 23: The Gilded Age I. Age of Corruption A. Election of 1868 Seymour- Democrat - Ohio Idea: turn in war bonds and get greenbacks; increase greenbacks and decrease value of greenbacks; farmers want inflation to pay back debt Grant- Republican, war hero - “Let us have peace”: Southern reconstruction - “waving the bloody shirt”: revive Civil War memories Outcome: - Grant wins by 300,000 majority (free slaves) B. Grant’s Presidency Congressmen bought by business men Major corruption within cabinet C. Corruption/Scandals Fisk and Gould - Wanted to corner gold market - Bribed Treasury to not sell any gold - Treasury releases gold - Grant is found as stupid but not corrupt Tweed Ring - Stole $200 million from Treasury - Bribed Congressmen - Thomas Nast: drew cartoons of Boss Tweed and exposed him Credit Mobilier - Union Pacific Railroad - Inflated prices of building railroads (with tax payer money) - Bribed Congressmen with stocks Whiskey Ring - Distillers that bribed Congressmen to avoid paying millions in whiskey taxes - Grant’s private secretary involved D. Election of 1872 Birth of Liberal Republican (wanted to end corruption in Washington) Greely vs Grant Grant won E. Grant’s 2 nd Term Panic of 1873: - Too many greenbacks - Caused by over expansion of railroads, mines, factories, etc. - Too many loans given out that weren’t paid back Resumption Act of 1875: - Contraction: stopped giving out loans and decrease number of greenbacks - Build up gold in Treasury
2 Brand-Allison Act: - Build up silver F. Era in General Similar views

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture