Unformatted text preview: ive higher rates for shorter
Tariffs – e/t they started out as measures to
protect industries, tariffs were being abused by
big companies to charge excessively high prices.
Tariffs became a big party issues, as Republicans
made protective tariffs part of their platform while
Democrats pushed to lower rates (reduce the
surplus by cutting taxes/tariffs, gov’t shouldn’t be
making $). In the end, Republicans won out w/the
McKinley Tariff of 1890 and then the Dingley
Tariff of 1897.
Monetary Policy – when prices fell after the Civil
War, farmers got into trouble b/c their debts were
worth the same, but their products were worth
less. As a result, they went for silver while
creditors favored a more stable gold-backed
money supply. The whole deal even turned into a
sort of class conflict and moral/religious thing. By
1870 the sides were clear – creditors (gold) and
debtors (silver) – and when silver dollars were
taken away after their value went up in respect to
gold it was referred to as the “Crime of ’73.” The
Bland-Allison Act (1878, allowed the Treasury to
buy $2-4 million of silver) and Sherman Silver 152 Purchase Act (1890) were concessions, but the
silver side remained unsatisfied.
- Overall, corruption notwithstanding, many important
acts were passed during the Gilded Age.
*The Gilded Age Presidents*
- After the scandals of Grant’s administration and the
election of 1876, Gilded Age Presidents attempted to
reestablish the legitimacy of the Presidency. They also
began initiating legislation and using the veto more.
- Rutherford B. Hayes (Republican, 1877 – 1881) was a
quiet compromiser who emphasized nat’l unity, opposed
violence, and attempted to get rid of the spoils system by
battling Conklin (he fired Chester Arthur, Conklin’s
protégé, from NY Customs).
- James Garfield (Republican, 1881) aimed to reduce
the tariff and maintain and independent position, but he
was assassinated by a rebuffed patronage seeker and
was succeeded by former Conklin protégé Chester
Arthur (Republican, 1881 – 1885), who actually became
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This note was uploaded on 04/02/2014 for the course APUSH AP United taught by Professor Orban during the Fall '10 term at Harrison High School, Harrison.
- Fall '10