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Unformatted text preview: America stood at an important crossroads during Grant's Presidency. Settling a dispute with Britain over the Northwest Territory, America for the first time understood its borders exactly and undisputedly. It had a stable currency for the first time, and the Gilded Age was on the horizon. America needed a forward thinker who could rebuild–and Grant was not the right man. The first major problem of Grant's administration arose over gold. Grant obeyed the conservative Republicans who believed that the United States needed to rid itself of the paper money issued during the war. Grant therefore signed legislation declaring the government's intention to cash in the paper money for gold–and he ultimately got duped by two speculators, Jay Gould and Jim Fisk. The Secretary of the Treasury controlled about a hundred million dollars of gold, and each month he was to sell some of it retire...
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This note was uploaded on 12/25/2011 for the course HIST 1320 taught by Professor Murphy during the Summer '08 term at Texas State.
- Summer '08