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Ch 16 (POL ((Treasury ruins the plan by selling $4 million of gov'ts…
Ch 16
POL
Treasury ruins the plan by selling $4 million of gov'ts gold on "Black Friday" The three immediately sell their gold which makes the problem worse Ruins the value of gold
Civil or military officials could pledge o Write a new state constitution o LA TN, ARK readmitted this way in 1864 Also called the 10% plan Congress passed the Wade-Davis Bill Wade-Davis Bill - House and Senate wouldn't seat Reps
From LA, TN, ARK in 1864 Ironclad oath - Swear never took up arms against U.S. Each conquered state president appoint a governor who would direct a census Once majority of voters swore ironclad oath - then state have constitutional convention Had to abolish slavery disenfranchise Confederate leaders Pocket veto o When Congress adjourns & President lets bill sit on his desk for 10 days without signing it - vetoed o Lincoln does this to W-D Bill.
Lincolin is assassinated & some in Congress say assassination evidence of unrepentant leaders in the South
Congressional Reconstruction - 1867-1877 Invalidate Presidential reconstruction actions by Lincoln and Johnson Wanted assurances that Confederates accept defeat and that loyal Blacks and whites would be protected This is a concern because Southern constitutional conventions had been reluctant to abolish slavery and give black men suffrage.
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Plus they had been electing former Confederates like Alexander Stephens to Senate from Georgia and passed Black Codes Divide Confederacy into 5 military districts
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Transcontinental rr completed in 1869 - RR appeared to reach its peak so many investors started pulling out investments
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WXT
1869 - Gould, Fisk and Grant's brother-in- law - tried to corner gold market tried to buy up all the gold by pooling their money The idea was to increase the price of gold and then sell Sec.
1863-1873 - Credit Mobilier - VP Schuyler Colfax Fake company set up to reap profits off railroad Getting no bid government contracts and dolling those contracts out to friends
1873-1875 - Whiskey Ring - Grant's Personal Secretary Orville Babcock Babcock received kickbacks for not making whiskey industry pay tax
Jay Cooke's bank failed - had been the organizer of most of the Civil War bonds which were sold through his bank
MIG
Registers dead people to vote Milked NYC for $200 million Helps out immigrants for those votes Panic of 1873 - Causes
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