FIFTH OUTLINE5. Election of 1872A. Liberal Republicans6. 2ndTerm ScandalsA. Credit MobilierB. Whiskey Ring7. Election of 18768. Compromise of 18779. End of ReconstructionJim Fisk & Jay Gould- sought to corner the Gold market *President Grant was courted by Gould & Fisk; Gould & Fisk then began to buy up Gold contracts *There was a floated rumor that the Treasury would not be selling Gold at the end of the month, so Gould & Fisk drove the price sky high*Grant’s reputation was ultimately hurt…he was seen as either a fool or a crook.The Election of 1872-Grant sought to keep the Radical Government alive in the South-Radical Republicans did not have majority in Congress as they once did-The Liberal Republicans sought to deny Grant the nomination for a second termHorace Greeley- opposition candidate to Grant, but not a viable candidate-Grant wins re-election for a second termGrantCredit Mobilier Scandal- involved the building of the Trans-Continental Railroad. -Credit Mobilier Company hired themselves at inflated prices to build railroad line, earning huge dividends.-Investigators were bribed to cover up the scandal. -Schuyler Colfax, Grant’s Vice-President…heavily involved in scandalWhiskey Ring Scandal- involved the underreporting of the Whiskey tax, as tax collectors kicked back money to the distillers. -Grant sent his private secretary, Orville Babcock to St. Louis to find out what was going on. Babcock was eventually bribed in the Scandal himself.*These scandals directly hurt Grant’s reputation.To his credit, Grant handled many foreign policy issues skillfully.*Grant left office in 1877.By 1884, Grant & his family were on the verge of bankruptcy. Grant signed a contract w/a publisher to write his civil war memoirs & stories for only 10 percent of royalties. Later, his good friend Mark Twain advised his against doing this, & Twain signed Grant for the deal, offering him 70 percent of royalties.