Apush Ch. 23 Study Guide Essay Example

Apush Ch. 23 Study Guide Essay Chapter 23 Study Guide Vocabulary: 1. Paralysis – A state of helpless stoppage, inactivity, or inability to act. 2. Coalition – A temporary alliance of political factions or parties for some specific purpose. 3. Corner – To gain exclusive control of a commodity in order to fix its price. 4. Censure – An official statement of condemnation passed by a legislative body against one of its members or some other official of government. While severe, a censure itself stops short of penalties or expulsion, which is removal from office. 5. Amnesty – A general pardon for offenses or crimes against a government. 6. Civil service – Referring to regular employment by government according to a standardized system of job descriptions, merit qualifications, pay, and promotion. 7. Political appointees – Receive positions based on affiliation and party loyalty. 8. Unsecured loans – Money loaned without identification of collateral (existing assets) to be forfeited in case the borrower defaults on the loan. 9. Contraction – In finance, reducing the available supply of money, thus tending to raise interest rates and lower prices. 10. Deflation – An increase in the value of money in relation to available goods, causing prices to fall. 1. Inflation – A decrease in the value of money in relation to goods, causes prices to rise. 12. Fraternal organization – A society of men drawn together for social purposes and sometimes to pursue other common goals. 13. Consensus – Common or unanimous opinion. 14. Kickback – The return of a portion of the mone y received in a sale or contract, often secretly or illegally, in exchange for favors. 15. Lien – A legal claim by a lender or another party on a borrower’s property as a guarantee against repayment, and prohibiting any sale of the property. 16. Assassination – Politically motivated murder of a public figure. 7. Laissez-faire – The doctrine of noninterference, especially by the government, in matters of economics or business. 18. Pork barrel – In American politics, government appropriations for political purposes, especially projects designed to please a legislator’s local constituency. People, Events, and Ideas: 1. Ulysses S. Grant – A great soldier but an utterly inept politician. 2. Jim Fisk – Bold and unprincipled financier whose plot to corner the U. S. gold market nearly succeeded in 1869. 3. Boss Tweed – Heavyweight New York political boss whose widespread fraud landed him in jail in 1871. 4. We will write a custom essay sample on Apush Ch. 23 Study Guide specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Apush Ch. 23 Study Guide specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Apush Ch. 23 Study Guide specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Horace Greeley – Colorful, eccentric newspaper editor who carried the Liberal Republican and Democratic banners against Grant in 1872. 5. Jay Cooke – Wealthy New York financier whose bank collapse in 1873 set off an economic depression. 6. Denis Kearney – Irish-born leader of the anti-Chinese movement in California. 7. Tom Watson – Radical Populist leader whose early success turned sour, and who then became a vicious racist. 8. Roscoe Conkling – Imperious New York senator and leader of the â€Å"Stalwart† faction of Republicans. 9. James G. Blaine – Charming but corrupt â€Å"Half-Breed† Republican senator and presidential nominee in 1884. 0. Rutherford B. Hayes – Winner of the contested 1876 election who presided over the end of Reconstruction and a sharp economic downturn. 11. James Garfield – President whose assassination after only a few months in office spurred the passage of a civil-service law. 12. Jim Crow – Term for the racial segregation laws imposed in the 1890s. 13. Grover Cleveland – First Democratic president since the Civil War; defender of laissez-faire economics and low tariffs. 14. William Jennings Bryan – Eloquent young Congressman from Nebraska who became the most prominent advocate of â€Å"free silver† in the early 1890s. 5. J. P. Morgan – Enormously wealthy banker whose secret bailout of the federal government in 1895 aroused fierce public anger. 16. William McKinley – 17. Thomas Nast – A cartoonist for the New York Times and drew many famous political cartoons including one of Boss Tweed. The cartoon showed condemning evidence on the corrupt ring leader and he was jailed shortly afterwards. 18. Samuel Tilden – A New York lawyer who rose to fame by bagging big boss Tweed, a notorious New York political boss in New York. Tilden was nominated for President in 1876 by the Democratic party because of his clean up image . This election was so close that it led to the compromise of 1877. Even though Tilden had more popular votes the compromise gave presidency to the Republicans and allowed the Democrats to stop reconstruction in the south. 19. Chester A. Arthur – He was the Vice President of James A. Garfield. After President Garfield was assassinated, September of 1881, Arthur assumed the position. He was chosen to run as Vice President, primarily, to gain the Stalwarts vote. Arthur was left in charge of the United States with no apparent qualifications. He, in turn, surprised the public with his unexpected vigor in prosecuting certain post office frauds and wouldnt help the Conklingite cronies when they came looking for favors. He was also in favor of civil service reform. 20. Charles J. Guiteau – In 1881 Charles J. Guiteau shot President Garfield in the back in a Washington railroad station. Guiteau allegedly committed this crime so that Arthur, a stalwart, would become President. Guiteaus attorneys used a plea of insanity, but failed and Guiteau was hung for murder. After this event politics began to get cleaned up with things like the Pendleton Act. 1. Benjamin Harrison – Called Young Tippecanoe because of Grandfather William Henry Harrison. Republican elected president in 1888. Opponent, Grover Cleveland, had more popular votes but Harrison put in office because of more electoral votes; pro-business, pro-tariff. 22. Cheap money – The theory that more printed money meant cheaper money. Therefore prices would be the same with more money out, making it easy to pay off debts. Creditors thought the exact opposite, however, thinking that it would mean harder to pay debts. 23. Sound money – The metallic or specie dollar is known as hard money. It was extremely important during the late 1860s and early 1870s, especially during the Panic of 1873. It was in opposition with greenbacks or folding money. The issuing of the greenbacks was overdone and the value depreciated causing inflation and the Panic of 1873. Hard-money advocates looked for the complete disappearance of the folding money. 24. Spoils system – The political system popularized by Andrew Jackson in the 1830s where the person elected to office appoints people to office regardless of merit or ability, usually as a reward for assistance in campaigning. Extremely popular during the Gilded Age (1869-1889) and it led to much corruption in politics. 25. â€Å"Ohio Idea† – Called for redemption in greenbacks. 26. The â€Å"Bloody shirt† – A strong campaign slogan used by the Republicans in the presidential elections of 1868. It was used to blame the Democrats for the Civil War which cost the lives of many Americans. This was the first time that the Civil War was used in a presidential election. It was also a great example of the political mudslinging of the era. 27. Tweed Ring – A group of people in New York City who worked with and for Burly Boss Tweed. He was a crooked politician and money maker. The ring supported all of his deeds. The New York Times finally found evidence to jail Tweed. Without Tweed the ring did not last. These people, the Bosses of the political machines, were very common in America for that time. 28. Credit Mobilier – A railroad construction company that consisted of many of the insiders of the Union Pacific Railway. The company hired themselves to build a railroad and made incredible amounts of money from it. In merely one year they paid dividends of 348 percent. In an attempt to cover themselves, they paid key congressmen and even the Vice-President stocks and large dividends. All of this was exposed in the scandal of 1872. 29. Whiskey Ring – In 1875 Whiskey manufacturers had to pay a heavy excise tax. Most avoided the tax, and soon tax collectors came to get their money. The collectors were bribed by the distillers. The Whiskey Ring had robbed the treasury of millions in excise-tax revenues. The scandal reached as high as the personal secretary to President Grant. 30. Liberal Republicans – 31. Resumption Act – It stated that the government would continue of greenbacks from circulation and to the redemption of all paper circulation and to the redemption of all paper currency in gold at face value beginning in 1879. 2. â€Å"Crime of 73† – When Congress stopped the coinage of the silver dollar against the will of the farmers and westerners who wanted unlimited coinage of silver. With no silver coming into the federal government, no silver money could be produced. The whole event happened in 1873. Westerners from silver-min ing states joined with debtors in demanding a return to the Dollar of Our Daddies. This demand was essentially a call for inflation, which was solved by contraction (reduction of the greenbacks) and the Treasurys accumulation of gold. 33. Bland-Allison Act – This act was a compromise concerning the coinage of silver designed by Richard P. Bland. It was put into effect in 1878. The act stated that the Treasury had to buy and coin between $2 and $4 million worth of silver bullion each month. The government put down hopes of inflationists when it bought only the legal minimum. 34. Greenback Labor party – 35. GAR – Grand Army of the Republic, this was an organization formed by the Union veterans at the end of the American Civil War in 1866. Its main goal was to aid fellow veterans families, and to try to obtain pension increases. In 1890, they had over 400,000 members. They also adopted Memorial Day in 1868. The Republican party was influenced by them greatly until 1900. 36. Stalwart – A political machine led by Roscoe Conkling of New York in the late 19th Century. Their goal is to seek power in government. They also supported the spoils system. 37. Half-Breed – A half-breed was a republican political machine, headed by James G. Blaine c1869. The half-breeds pushed republican ideals and were almost a separate group that existed within the party. 38. Compromise of 1877 – During the electoral standoff in 1876 between Hayes (Republican) and Tilde (Democrat). The Compromise of 1877 meant that the Democrats reluctantly agreed that Hayes might take office if he ended reconstruction in the South. 39. Pendleton Act – This was what some people called the Magna Carta of civil-service reform. It prohibited, at least on paper, financial assessments on jobholders. It created a merit system of making appointments to government jobs on the basis of aptitude rather than who you know, or the spoils system. It set up a Civil Service Commission, chaired with administering open competitive examinations to applicants for posts in the classified service. The people were forced, under this law, to take an exam before being hired to a governmental job position. Written responses: 1. Grant was first tarred by the Credit Mobilier scandal in 1872 when Union Pacific Railroad insiders had formed the Credit Mobilier construction company and then cleverly hired themselves at inflated prices to build the railroad line, earning dividends as high as 348 percent. A newspaper expose and congressional investigation of the scandal led to the formal censure of two congressmen and the revelation that the vice president of the United States had accepted payments from Credit Mobilier. The breath of scandal in Washington also reeked of alcohol. In 1874-1875 the sprawling Whiskey Ring robbed the Treasury of millions in excise-tax revenues. When Grant’s own private secretary was shown to be one of the criminals, Grant retracted his earlier statement of â€Å"Let no guilty man escape. † Later, in 1876, Secretary of War William Belknap was shown to have pocketed bribes from suppliers to the Indian reservations. . In 1873, a paralyzing panic broke out, the Panic of 1873, caused by too many railroads and factories being formed than existing markets could bear and the over-loaning by banks to those projects. Essentially, the causes of the panic were the same old ones that’d caused recessions every 20 years that century: (1) over-specula tion and (2) too-easy credit. 3. Before, the greenbacks that had been issued in the Civil War were being recalled, but now, during the panic, the â€Å"cheap-money† supporters wanted greenbacks to be printed on mass again, to create inflation. However, supporters of â€Å"hard-money† (actual gold and silver) persuaded Grant to veto a bill that would print more paper money, and the Resumption Act of 1875 pledged the government to further withdraw greenbacks and made all further redemption of paper money in gold at face value, starting in 1879. 4. â€Å"The Gilded Age,† was a term coined by Mark Twain hinting that times looked good, yet if one scratched a bit below the surface, there were problems. Times were filled with corruption and presidential election squeakers, and even though Democrats and Republicans had similar ideas on economic issues, there were fundamental differences. Republicans traced their lineage to Puritanism. Democrats were more like Lutherans and Roman Catholics. Democrats had strong support in the South. Republicans had strong votes in the North and the West, and from the Grand Army of the Republic (G. A. R. ), an organization made up of former Union veterans. In the 1870s and the 1880s, Republican infighting was led by rivals Roscoe Conkling (Stalwarts) and James G. Blaine (Half-Breeds), who bickered and deadlocked their party. 5. The Republicans nominated Rutherford B. Hayes, dubbed the â€Å"Great Unknown† because no one knew much about him, while the Democrats ran Samuel Tilden. The election was very close, with Tilden getting 184 votes out of a needed 185 in the Electoral College, but votes in four states, Louisiana, South Carolina, Florida, and part of Oregon, were unsure and disputed. The disputed states had sent in two sets of returns, one Democrat, one Republican. The Electoral Count Act, passed in 1877, set up an electoral commission that consisted of 15 men selected from the Senate, the House, and the Supreme Court, which would count the votes (the 15th man was to be an independent, David Davis, but at the last moment, he resigned). In February of 1877, the Senate and the House met to settle the dispute, and eventually, Hayes became president as a part of the rest of the Compromise of 1877. True to a compromise, both sides won a bit: For the North—Hayes would become president if he agreed to remove troops from the remaining two Southern states where Union troops remained (Louisiana and South Carolina), and also, a bill would subsidize the Texas and Pacific rail line. For the South—military rule and Reconstruction ended when the military pulled out of the South. . The Compromise of 1877 abandoned the Blacks in the South by withdrawing troops, and their last attempt at protection of Black rights was the Civil Rights Act of 1875, which was mostly declared unconstitutional by the Supreme Court in the 1883 Civil Rights cases. As Reconstruction ended and the military returned northward, whites once again asserted their power. Literacy requirements for voting began, voter registration laws emerged, and po ll taxes began. These were all targeted at black voters. Most blacks became sharecroppers (providing nothing but labor) or tenant farmers (if they could provide their own tools). In 1896, the Supreme Court ruled in the case of Plessy v. Ferguson that â€Å"separate but equal† facilities were constitutional. Thus â€Å"Jim Crow† segregation was legalized. 7. In 1877, the presidents of the nation’s four largest railroads decided to cut wages by 10%. Workers struck back, stopping work, and when President Hayes sent troops to stop this, violence erupted, and more than 100 people died in the several weeks of chaos. The failure of the railroad strike showed the weakness of the labor movement, but this was partly caused by friction between races, especially between the Irish and the Chinese. In San Francisco, Irish-born Denis Kearney incited his followers to terrorize the Chinese. In 1879, Congress passed a bill severely restricting the influx of Chinese immigrants (most of whom were males who had come to California to work on the railroads), but Hayes vetoed the bill on grounds that it violated an existing treaty with China. After Hayes left office, the Chinese Exclusion Act, passed in 1882, was passed, barring any Chinese from entering the United States—the first law limiting immigration. 8. (skipped) 9. (skipped) 10. The Populist Party emerged in 1892 from disgruntled farmers. Their main call was for inflation via free coinage of silver. They called for a litany of items including: a graduated income tax, government regulation of railroads and telegraphs/telephones, direct elections of U. S. senators, a one term limit, initiative and referendum, a shorter workday, and immigration restriction. 11. (skipped) Apush Ch. 23 Study Guide Essay Example Apush Ch. 23 Study Guide Paper Chapter 23 Study Guide Vocabulary: 1. Paralysis – A state of helpless stoppage, inactivity, or inability to act. 2. Coalition – A temporary alliance of political factions or parties for some specific purpose. 3. Corner – To gain exclusive control of a commodity in order to fix its price. 4. Censure – An official statement of condemnation passed by a legislative body against one of its members or some other official of government. While severe, a censure itself stops short of penalties or expulsion, which is removal from office. 5. Amnesty – A general pardon for offenses or crimes against a government. 6. Civil service – Referring to regular employment by government according to a standardized system of job descriptions, merit qualifications, pay, and promotion. 7. Political appointees – Receive positions based on affiliation and party loyalty. 8. Unsecured loans – Money loaned without identification of collateral (existing assets) to be forfeited in case the borrower defaults on the loan. 9. Contraction – In finance, reducing the available supply of money, thus tending to raise interest rates and lower prices. 10. Deflation – An increase in the value of money in relation to available goods, causing prices to fall. 1. Inflation – A decrease in the value of money in relation to goods, causes prices to rise. 12. Fraternal organization – A society of men drawn together for social purposes and sometimes to pursue other common goals. 13. Consensus – Common or unanimous opinion. 14. Kickback – The return of a portion of the mone y received in a sale or contract, often secretly or illegally, in exchange for favors. 15. Lien – A legal claim by a lender or another party on a borrower’s property as a guarantee against repayment, and prohibiting any sale of the property. 16. Assassination – Politically motivated murder of a public figure. 7. Laissez-faire – The doctrine of noninterference, especially by the government, in matters of economics or business. 18. Pork barrel – In American politics, government appropriations for political purposes, especially projects designed to please a legislator’s local constituency. People, Events, and Ideas: 1. Ulysses S. Grant – A great soldier but an utterly inept politician. 2. Jim Fisk – Bold and unprincipled financier whose plot to corner the U. S. gold market nearly succeeded in 1869. 3. Boss Tweed – Heavyweight New York political boss whose widespread fraud landed him in jail in 1871. 4. We will write a custom essay sample on Apush Ch. 23 Study Guide specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Apush Ch. 23 Study Guide specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Apush Ch. 23 Study Guide specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Horace Greeley – Colorful, eccentric newspaper editor who carried the Liberal Republican and Democratic banners against Grant in 1872. 5. Jay Cooke – Wealthy New York financier whose bank collapse in 1873 set off an economic depression. 6. Denis Kearney – Irish-born leader of the anti-Chinese movement in California. 7. Tom Watson – Radical Populist leader whose early success turned sour, and who then became a vicious racist. 8. Roscoe Conkling – Imperious New York senator and leader of the â€Å"Stalwart† faction of Republicans. 9. James G. Blaine – Charming but corrupt â€Å"Half-Breed† Republican senator and presidential nominee in 1884. 0. Rutherford B. Hayes – Winner of the contested 1876 election who presided over the end of Reconstruction and a sharp economic downturn. 11. James Garfield – President whose assassination after only a few months in office spurred the passage of a civil-service law. 12. Jim Crow – Term for the racial segregation laws imposed in the 1890s. 13. Grover Cleveland – First Democratic president since the Civil War; defender of laissez-faire economics and low tariffs. 14. William Jennings Bryan – Eloquent young Congressman from Nebraska who became the most prominent advocate of â€Å"free silver† in the early 1890s. 5. J. P. Morgan – Enormously wealthy banker whose secret bailout of the federal government in 1895 aroused fierce public anger. 16. William McKinley – 17. Thomas Nast – A cartoonist for the New York Times and drew many famous political cartoons including one of Boss Tweed. The cartoon showed condemning evidence on the corrupt ring leader and he was jailed shortly afterwards. 18. Samuel Tilden – A New York lawyer who rose to fame by bagging big boss Tweed, a notorious New York political boss in New York. Tilden was nominated for President in 1876 by the Democratic party because of his clean up image . This election was so close that it led to the compromise of 1877. Even though Tilden had more popular votes the compromise gave presidency to the Republicans and allowed the Democrats to stop reconstruction in the south. 19. Chester A. Arthur – He was the Vice President of James A. Garfield. After President Garfield was assassinated, September of 1881, Arthur assumed the position. He was chosen to run as Vice President, primarily, to gain the Stalwarts vote. Arthur was left in charge of the United States with no apparent qualifications. He, in turn, surprised the public with his unexpected vigor in prosecuting certain post office frauds and wouldnt help the Conklingite cronies when they came looking for favors. He was also in favor of civil service reform. 20. Charles J. Guiteau – In 1881 Charles J. Guiteau shot President Garfield in the back in a Washington railroad station. Guiteau allegedly committed this crime so that Arthur, a stalwart, would become President. Guiteaus attorneys used a plea of insanity, but failed and Guiteau was hung for murder. After this event politics began to get cleaned up with things like the Pendleton Act. 1. Benjamin Harrison – Called Young Tippecanoe because of Grandfather William Henry Harrison. Republican elected president in 1888. Opponent, Grover Cleveland, had more popular votes but Harrison put in office because of more electoral votes; pro-business, pro-tariff. 22. Cheap money – The theory that more printed money meant cheaper money. Therefore prices would be the same with more money out, making it easy to pay off debts. Creditors thought the exact opposite, however, thinking that it would mean harder to pay debts. 23. Sound money – The metallic or specie dollar is known as hard money. It was extremely important during the late 1860s and early 1870s, especially during the Panic of 1873. It was in opposition with greenbacks or folding money. The issuing of the greenbacks was overdone and the value depreciated causing inflation and the Panic of 1873. Hard-money advocates looked for the complete disappearance of the folding money. 24. Spoils system – The political system popularized by Andrew Jackson in the 1830s where the person elected to office appoints people to office regardless of merit or ability, usually as a reward for assistance in campaigning. Extremely popular during the Gilded Age (1869-1889) and it led to much corruption in politics. 25. â€Å"Ohio Idea† – Called for redemption in greenbacks. 26. The â€Å"Bloody shirt† – A strong campaign slogan used by the Republicans in the presidential elections of 1868. It was used to blame the Democrats for the Civil War which cost the lives of many Americans. This was the first time that the Civil War was used in a presidential election. It was also a great example of the political mudslinging of the era. 27. Tweed Ring – A group of people in New York City who worked with and for Burly Boss Tweed. He was a crooked politician and money maker. The ring supported all of his deeds. The New York Times finally found evidence to jail Tweed. Without Tweed the ring did not last. These people, the Bosses of the political machines, were very common in America for that time. 28. Credit Mobilier – A railroad construction company that consisted of many of the insiders of the Union Pacific Railway. The company hired themselves to build a railroad and made incredible amounts of money from it. In merely one year they paid dividends of 348 percent. In an attempt to cover themselves, they paid key congressmen and even the Vice-President stocks and large dividends. All of this was exposed in the scandal of 1872. 29. Whiskey Ring – In 1875 Whiskey manufacturers had to pay a heavy excise tax. Most avoided the tax, and soon tax collectors came to get their money. The collectors were bribed by the distillers. The Whiskey Ring had robbed the treasury of millions in excise-tax revenues. The scandal reached as high as the personal secretary to President Grant. 30. Liberal Republicans – 31. Resumption Act – It stated that the government would continue of greenbacks from circulation and to the redemption of all paper circulation and to the redemption of all paper currency in gold at face value beginning in 1879. 2. â€Å"Crime of 73† – When Congress stopped the coinage of the silver dollar against the will of the farmers and westerners who wanted unlimited coinage of silver. With no silver coming into the federal government, no silver money could be produced. The whole event happened in 1873. Westerners from silver-min ing states joined with debtors in demanding a return to the Dollar of Our Daddies. This demand was essentially a call for inflation, which was solved by contraction (reduction of the greenbacks) and the Treasurys accumulation of gold. 33. Bland-Allison Act – This act was a compromise concerning the coinage of silver designed by Richard P. Bland. It was put into effect in 1878. The act stated that the Treasury had to buy and coin between $2 and $4 million worth of silver bullion each month. The government put down hopes of inflationists when it bought only the legal minimum. 34. Greenback Labor party – 35. GAR – Grand Army of the Republic, this was an organization formed by the Union veterans at the end of the American Civil War in 1866. Its main goal was to aid fellow veterans families, and to try to obtain pension increases. In 1890, they had over 400,000 members. They also adopted Memorial Day in 1868. The Republican party was influenced by them greatly until 1900. 36. Stalwart – A political machine led by Roscoe Conkling of New York in the late 19th Century. Their goal is to seek power in government. They also supported the spoils system. 37. Half-Breed – A half-breed was a republican political machine, headed by James G. Blaine c1869. The half-breeds pushed republican ideals and were almost a separate group that existed within the party. 38. Compromise of 1877 – During the electoral standoff in 1876 between Hayes (Republican) and Tilde (Democrat). The Compromise of 1877 meant that the Democrats reluctantly agreed that Hayes might take office if he ended reconstruction in the South. 39. Pendleton Act – This was what some people called the Magna Carta of civil-service reform. It prohibited, at least on paper, financial assessments on jobholders. It created a merit system of making appointments to government jobs on the basis of aptitude rather than who you know, or the spoils system. It set up a Civil Service Commission, chaired with administering open competitive examinations to applicants for posts in the classified service. The people were forced, under this law, to take an exam before being hired to a governmental job position. Written responses: 1. Grant was first tarred by the Credit Mobilier scandal in 1872 when Union Pacific Railroad insiders had formed the Credit Mobilier construction company and then cleverly hired themselves at inflated prices to build the railroad line, earning dividends as high as 348 percent. A newspaper expose and congressional investigation of the scandal led to the formal censure of two congressmen and the revelation that the vice president of the United States had accepted payments from Credit Mobilier. The breath of scandal in Washington also reeked of alcohol. In 1874-1875 the sprawling Whiskey Ring robbed the Treasury of millions in excise-tax revenues. When Grant’s own private secretary was shown to be one of the criminals, Grant retracted his earlier statement of â€Å"Let no guilty man escape. † Later, in 1876, Secretary of War William Belknap was shown to have pocketed bribes from suppliers to the Indian reservations. . In 1873, a paralyzing panic broke out, the Panic of 1873, caused by too many railroads and factories being formed than existing markets could bear and the over-loaning by banks to those projects. Essentially, the causes of the panic were the same old ones that’d caused recessions every 20 years that century: (1) over-specula tion and (2) too-easy credit. 3. Before, the greenbacks that had been issued in the Civil War were being recalled, but now, during the panic, the â€Å"cheap-money† supporters wanted greenbacks to be printed on mass again, to create inflation. However, supporters of â€Å"hard-money† (actual gold and silver) persuaded Grant to veto a bill that would print more paper money, and the Resumption Act of 1875 pledged the government to further withdraw greenbacks and made all further redemption of paper money in gold at face value, starting in 1879. 4. â€Å"The Gilded Age,† was a term coined by Mark Twain hinting that times looked good, yet if one scratched a bit below the surface, there were problems. Times were filled with corruption and presidential election squeakers, and even though Democrats and Republicans had similar ideas on economic issues, there were fundamental differences. Republicans traced their lineage to Puritanism. Democrats were more like Lutherans and Roman Catholics. Democrats had strong support in the South. Republicans had strong votes in the North and the West, and from the Grand Army of the Republic (G. A. R. ), an organization made up of former Union veterans. In the 1870s and the 1880s, Republican infighting was led by rivals Roscoe Conkling (Stalwarts) and James G. Blaine (Half-Breeds), who bickered and deadlocked their party. 5. The Republicans nominated Rutherford B. Hayes, dubbed the â€Å"Great Unknown† because no one knew much about him, while the Democrats ran Samuel Tilden. The election was very close, with Tilden getting 184 votes out of a needed 185 in the Electoral College, but votes in four states, Louisiana, South Carolina, Florida, and part of Oregon, were unsure and disputed. The disputed states had sent in two sets of returns, one Democrat, one Republican. The Electoral Count Act, passed in 1877, set up an electoral commission that consisted of 15 men selected from the Senate, the House, and the Supreme Court, which would count the votes (the 15th man was to be an independent, David Davis, but at the last moment, he resigned). In February of 1877, the Senate and the House met to settle the dispute, and eventually, Hayes became president as a part of the rest of the Compromise of 1877. True to a compromise, both sides won a bit: For the North—Hayes would become president if he agreed to remove troops from the remaining two Southern states where Union troops remained (Louisiana and South Carolina), and also, a bill would subsidize the Texas and Pacific rail line. For the South—military rule and Reconstruction ended when the military pulled out of the South. . The Compromise of 1877 abandoned the Blacks in the South by withdrawing troops, and their last attempt at protection of Black rights was the Civil Rights Act of 1875, which was mostly declared unconstitutional by the Supreme Court in the 1883 Civil Rights cases. As Reconstruction ended and the military returned northward, whites once again asserted their power. Literacy requirements for voting began, voter registration laws emerged, and po ll taxes began. These were all targeted at black voters. Most blacks became sharecroppers (providing nothing but labor) or tenant farmers (if they could provide their own tools). In 1896, the Supreme Court ruled in the case of Plessy v. Ferguson that â€Å"separate but equal† facilities were constitutional. Thus â€Å"Jim Crow† segregation was legalized. 7. In 1877, the presidents of the nation’s four largest railroads decided to cut wages by 10%. Workers struck back, stopping work, and when President Hayes sent troops to stop this, violence erupted, and more than 100 people died in the several weeks of chaos. The failure of the railroad strike showed the weakness of the labor movement, but this was partly caused by friction between races, especially between the Irish and the Chinese. In San Francisco, Irish-born Denis Kearney incited his followers to terrorize the Chinese. In 1879, Congress passed a bill severely restricting the influx of Chinese immigrants (most of whom were males who had come to California to work on the railroads), but Hayes vetoed the bill on grounds that it violated an existing treaty with China. After Hayes left office, the Chinese Exclusion Act, passed in 1882, was passed, barring any Chinese from entering the United States—the first law limiting immigration. 8. (skipped) 9. (skipped) 10. The Populist Party emerged in 1892 from disgruntled farmers. Their main call was for inflation via free coinage of silver. They called for a litany of items including: a graduated income tax, government regulation of railroads and telegraphs/telephones, direct elections of U. S. senators, a one term limit, initiative and referendum, a shorter workday, and immigration restriction. 11. (skipped)