Politics and corruption


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Politics and corruption

  1. 1. State Standards 6.10 and 6.11
  2. 2. Black Friday Scandal First of three scandals under President Grant Gold Exchange  Gold was a commodity that was traded and sold on the market James Fisk and Jay Gould  Purchased enough gold so they could control its price on the stock market  Controlling gold means more money for Fisk and Gould
  3. 3. Black Friday Scandal. Fisk and Gould’s friend  Abel Corbin, President Grant’s brother in law  Used Corbin to convince President Grant to not sell government gold  This would lower the worth of the gold they purchased  Grant learns of the plot  Ordered the sale of 4 million dollars of government gold
  4. 4. Black Friday Scandal.. Because Grant decides to sale so much gold so quickly he caused a minor panic  Black Friday of 1869  Panic happened investors had purchased gold on loans  When the price of gold dropped they were unable to repay the loans  Almost destroyed the economy
  5. 5. Credit Mobilier Scandal Union Pacific Railroad received government funding to build the transcontinental railroad  Construction companies were supposed to bid on doing work for the Union Pacific  Only one company, The Credit Mobilier, was ever given the contracts even though their prices were extremely high  Excess money was kept by politicians and businessmen
  6. 6. Whiskey Ring Whiskey was taxed heavily by the federal government  Distillers wanted more of the profit from these taxes  Bribed politicians so that they did not have to pay this tax  Secretary of Treasury Benjamin H Bristow  Broke the Whiskey Ring  Results in the indictments of over 200 people
  7. 7. Tammany Hall Tammany Hall  Political organization in New York City  “Machine” Politics  Created a machine that ensured that Tammany Hall was always elected Bosses  Networks of local leaders that helped communities get things they needed  Citizens expected to respond with VOTES
  8. 8. Tammany Hall. Boss William Marcy Tweed  Created a huge network for Tammany Hall  Defrauded NYC of millions of dollars by creating companies to help the city and overcharging the city and keeping the profits  Sent to jail in 1871 for defrauding the city
  9. 9. Compromise of 1877 1876 Presidential Election  Rutherford B. Hayes vs. Samuel Tilden  South upset Tilden didn’t win, North wanted Hayes to win  In order to please the North and South the Compromise of 1877 was created 1. Established Rutherford B. Hayes as president 2. Ended Reconstruction in the South  Federal troops were withdrawn from the South
  10. 10. Garfield’s Assassination Rutherford B. Hays promises he would only serve one term  James Garfield wins the next election Garfield  Wins a battle against Roscoe Conkling over the spoils system  A system for appointing political supporters to government jobs
  11. 11. Garfield’s Assassination. Charles Guiteau  Upset office seeker who did not receive an appointment to office by Garfield  Shot President Garfield  Resulted in a sever infection that killed Garfield 80 days later
  12. 12. Civil Service Reform Chester Arthur  President after Garfield dies  Spoils System  Gave government jobs to political allies who may or may not have been qualified for that position  Arthur wants to end the Spoils System  Pendleton Act  Established a Civil Service Commission which created a required examination for federal jobs  Fewer jobs were handed out as political favors
  13. 13. Grangers (Populist) Granger Movement  US farmers that fought Railroad monopolies  Farmers who hated the Railroad  Granger Laws  Passed to regulate the railroads, proved the farmers did have political power
  14. 14. Grangersfightagainst themonopoliesestablishedby therailroads
  15. 15. Interstate Commerce Act Interstate Commerce Act  Required that railroads establish “reasonable and just” rates for consumers  Established the Interstate Commerce Commission  US Government’s first regulatory agency