Chapter 23 Flashcards
Population during post-Civil War
Rapidly increasing
Ohio Idea
Called for redemption in greenbacks
Keep more money in circulation and inflation higher
Democrats like this
Black Friday
Jubilee Jim Fisk and Jay Gould
Bid the price of gold skyward
Grant was forced to release gold
Credit Mobilier Scandal
Union Pacific employed an inside Credit Mobilier construction company to earn insanely high dividends for themselves
Congressmen were in on it
Whiskey Ring
Robbed the Treasury in millions in excise-tax revenues
Belknap
Grant’s Secretary of War who was forced to resign after taking bribes from suppliers to Indian Reservations
Liberal Republican Party
wanted an end to the scandals
wanted to end military reconstruction
General Amnesty
Passed by Republicans in 1872
Scared of the Liberal Republicans they decided to allow further Confederates to hold office
Economic Panic of 1873
Caused by over-speculation of railroads, mines, and factories and too many loans
15,000 buisnesses went bankrupt
Who was hit the hardest in the Economic Panic of 1873?
Black Americans (lost savings)
Debtors (wanted more greenbacks)
What do debtors want?
More greenbacks so there is more money in circulation and easier to pay debts
Coinage of more silver to promote inflation
Resumption Act of 1875
Favored creditors
Further withdrew Greenbacks
Contraction
Amount of money in circulation decreased from 1870-1880
Makes debtors mad
Gave greenbacks more value
1869-1891 overall politics
Republicans and Democrats saw eye-to-eye on most issues like tariffs and civil-service reform
Voter turnouts in the Gilded Age
Higher than ever
Fierce loyalty to parties
Religon and Republicans
Tended to be more Puritan
Thought the government should regulate economic and moral affairs of society
Democrats and Religion
Lutherans and Roman Catholics
Thought the government should take a less stern view on human imperfections
Grand Army Republic
Voted Republican
Several hundred thousand Union veterans of the Civil War
Stalwart Faction of Republican Party
Led by Roscoe Conkling
Believed in the spoils system
Half-Breed Faction of Republican Party
Led by James Blaine
Believed in Civil-Service Reform
Civil Rights Cases
The court declares that the government cannot violate civil rights, but individuals can under the 14th amendment