By 18721 - By 1872 Grant had managed to alienate many of...

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Unformatted text preview: By 1872, Grant had managed to alienate many of his supporters. They joined with the Southern Democrats to support Horace Greeley for the Presidency–one of the worst miscalculations of political history that century. Greeley, the fire-breathing New York abolitionist newspaper publisher, had been the man the Democrats loved to hate for more than a generation. His politics were much the same as Grant's on the issues of tariffs and civil service reform. Thanks to the Democrats' mistake of choosing Greeley– who managed to alienate even many of his own party–Grant won reelection in 1872, although his second term quickly proved that it would be no better than his first. In 1873, the country was rocked by financial depressions, starting when a large bank, Jay Cooke and Company, filed for bankruptcy. Grant faced down increasingly pressure to allow inflation, vetoing legislation that would have allowed paper money again, and...
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