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Chapter 23

Chapter 23. Politics in the Gilded Age. The “ Bloody Shirt ” Elects Grant. Americans disillusioned among idealistic. Got corruption, petty politics, and Grant. General would make a good president . Most popular war hero after the War

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Chapter 23

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  1. Chapter 23 Politics in the Gilded Age

  2. The “Bloody Shirt” Elects Grant

  3. Americans disillusioned among idealistic • Got corruption, petty politics, and Grant

  4. General would make a good president • Most popular war hero after the War • Given lavish gifts like they owed him for saving the Union

  5. Not up to the political arena • Not very cultured

  6. 1868 Republican Platform • Continued reconstruction of South • “Let us have peace” -Grant

  7. Democratic Convention • Denounced reconstruction • Repudiation • Forced through the Ohio Idea • -Redemption of bonds in greenbacks in full • Democrats hope to keep money in circulation to make loans affordable

  8. Heratio Seymour - New York Governor • Denounces repudiation

  9. Republicans wave the “bloody shirt” • “Vote as you shot”

  10. Grant 214-80 • Popular vote by only 300,000 • Majority of whites vote for Seymour • Texas, Virginia, and Mississippi not counted • 500,000 former slaves votes carry Grant into office

  11. Era of Good Stealings

  12. Population growing by leaps and bounds • Becomes third largest western nation behind Russia and France • 39 million

  13. America is going to be full of graft and corruption • Railroad promoters left bond buyers with little success • Judges and legislatures were up for hire

  14. Jim Fisk and Jay Gould • High living and showy millionaire • Wanted to corner the gold market • 1. Bought up gold • 2. Convinced Grant not to sell gold • 3. Took prices high • 4. But Grant released gold anyway, knowing the scheme

  15. Jim Fisk

  16. Tweed Ring • New York City • Milked city and state of over $200 million • Addition, division and silence

  17. Thomas Nast • Cartoonist who helped bring down Boss Tweed • Turned down much in bribes • (example of a political cartoon)

  18. Samuel Tilden headed prosecution • Tweed found guilty and sent to jail

  19. A Carnival of Corruption

  20. Grant Administration full of corruption • Except for Hamilton Fish - Secretary of State • In-laws are even a part of the graft

  21. Credit Mobilier • 1. Railroad Construction Company formed by insiders of Union Pacific • 2. Hired themselves and paid themselves hefty sums • 3. Distributed shares to Congressmen

  22. Uncovered in 1872 • Two Congressmen censured • Vice President had even received shares in stock

  23. Whisky Ring • 1. Robbed Treasury of millions by bribing tax collectors • 2. Grants private secretary involved • Grant gets him off

  24. William Belknap • Made money by selling privileges of selling junk to Indians

  25. The Liberal Republican Revolt of 1872

  26. Liberal Republicans • Reform minded citizens • Want to purify Washington and end reconstruction

  27. Nominated Horace Greeley for president • Reform journalist • Not a good politician • Eccentric who was hostile to Democrats • Got Democratic nomination to run against Grant • Wants to clasp hands across the “bloody chasm” and brought Democrats on his side

  28. 1872 Election • Two candidates not qualified for the job

  29. Campaign becomes one of name calling • Wave bloody shirt and wave dirty shirt • Grant wins again • Greeley lost election, job, mind, life within a month

  30. Liberal Republicans force changes • 1. General amnesty for former Confederate leaders • 2. Lowered high Civil War tariff • 3. Mild civil service reform

  31. Depression and Demands for Inflation

  32. Panic and Depression of 1873 • Promoters overextended and markets could not keep up • Bankers made too many bad loans

  33. Jay Cooke and Company • Made loans hoping Europe would help out, but Europe experiences its own depression • Financier of the Civil War went bankrupt

  34. 15,000 business go bankrupt • Labor riots • Blacks hit hardest - lost savings

  35. Debtors want inflationary policy • 1. $450 million greenbacks still in circulation • 2. Money losing value to gold • 3. Want cheap money to ease debts • Creditors want hard money to keep its value

  36. Resumption Act of 1875 • Grant convinced to print more paper money • Redeem at face value in gold • Saw greenbacks taken out of circulation • Fueled depression

  37. Silver • Debtors look for relief from silver • 1. Silver worth 1/16 of gold by Treasury Dept • 2. Silver miners stopped selling silver to government • 3. Treasury stops minting silver • 4. Silver discovers drive price down even further

  38. Crime of 73 • Westerners and debtors call for more greenbacks • A call for inflation

  39. Contraction • Government collecting money to redeem greenbacks in 1879 • Amount of money per capita decreased • Worsened the depression • Restored US credit rating • Brought greenbacks up to face value • Few redeemed in 1879

  40. Bland Allison Act • Compromise between sound money and soft money • Instructed Treasury to buy $2 to $4 in silver each month • But they buy only minimum

  41. Backlash • Democratic House in 1874 and 1878 • Beginning of Greenback Labor Party

  42. Pallid Politics in the Gilded Age

  43. Political seesaw in the late 19th Century • Presidential races close • Majority in House and Senate never the same • Politicians not willing to take bold stands • Trivial and petty

  44. Democrats and Republicans see eye to eye on most issues • Fighting became fierce • Efficient organizations • Record voter turnouts • Many voted straight party ticket

  45. Why political consensus and political fighting • Built along ethnic and cultural differences • Republicans • Lineage to Puritans • Government should play a role in economic and moral affair

  46. Democrats • Immigrants, Lutherans, Catholics • More tolerable of differences • Opposed government touching morality • Bitter politics at local level also

  47. Democrats • Solid base in South • Ran well in northern industrial cities • Immigrants and political machines

  48. Republicans • Midwest • Rural and small towns which usually gave them victory • Freedmen voted Republican • GAR - Grand Army of the Republic • Potent political block

  49. Patronage • Parties built support on patronage and spoils of office

  50. Infighting in Republican Party in 1870s and 1880s • Stalwarts - Roscoe Conkling - New York Senator • Embraces spoils system • Portrayed as a turkey

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