Transcript Grant’s Black Friday

Grant’s Black Friday
President Ulysses S. Grant
During Reconstruction, greenbacks issued without gold backing them.
James Fisk & Jay Gould sought to corner the gold market
Conspired with Grant’s brother-in-law, financier Abel Corbin
Manipulated Grant in social situations to hold gold
Summer 1869 - started buying up all the gold (Prices rise, stocks plummet)
September 20, 1869 - start hoarding gold (Drive prices even higher)
September 24, 1869 - Grant discovers what is going on and releases gov’t gold
and prices plummet
Whiskey Ring Scandal
During the Reconstruction, the government needed funds to help the recovery
process
Enacted steep taxes - especially on liquor
Upset, distilleries concocted a plan to retain the money which involved bribing
gov’t officials.
St. Louis, Chicago, Milwaukee, Cincinnati, New Orleans, Peoria
Soon, millions of $ were missing in federal taxes and high gov’t officials (including
President Grant’s personal secretary Orville E. Babcock) were embroiled.
In 1875, it was finally busted by the new Secretary of treasury Benjamin Bristow.
Gilded Age
Segregation and Social Tensions
Chapter 7 Page 182
Essential Questions
E.Q. 15 - Explain the impact of different forms of corruption
and its consequences in American politics during the later half
of the Age.
E.Q. 17 - Determine the progress of political and social reform
in America during the Progressive Era.
Objectives
Assess how whites created a segregated society in the South
and how African American responded.
Analyze efforts to limit immigration and the effects.
Compare the situations of Mexican Americans and of Chinese
immigrants to those of other groups.
Differentiate between various figures of opposition to African
America oppression.
African Americans
Following the Civil War and Reconstruction, southern states
are allowed to reassert control over African Americans once
again.
Acts aimed at disenfranchising blacks
Jim Crow laws: laws that kept blacks and whites
segregated
Voting
15th Amendment: prohibited denying right to vote based on
“race, color, or previous condition of servitude (i.e. being a
slave)”
Southern states got sneaky and began passing other
“legal” measures such as: poll taxes, literacy tests, &
grandfather clauses
Or, resorted to illegal measures like violence
Segregation
Jim Crow: enforced segregation (railroad cars, restaurants,
jury boxes, cemeteries, schools, parks, beaches, and even
hospitals)
Plessy v. Ferguson (1896): landmark Supreme Court case
that ruled “separate but equal” was constitutional
Booker T. Washington
(1856 - 1915) : A former slave, he
eventually became an educator,
author, orator, and political leader.
Advocated African Americans
accommodating to Jim Crow laws
(instead of wasting time trying to
overturn them) and believed the
surest way to gain equal social rights
was to demonstrate “industry, thrift,
intelligence and property.”
Became first leader of Tuskegee
Institute
Voting was a privilege.
W.E.B. Du Bois
(1868 - 1963) Received Ph.D. from
Harvard University
Criticized Washington’s philosophies
of accommodating whites’ racism
and segregation
Proposed that blacks should demand
full and immediate equality and not
limit themselves to “merely”
vocational work
Voting was a right.
Ida B. Wells
(1862 - 1931) Born into slavery
Became a schoolteacher
1892: After a mob attack on close
friends, wrote an editorial attacking
the practice of lynching in the South.
Lifelong crusade against lynching.
Chinese Immigrants
Racial prejudice on West Coast
1879 - CA barred cities form hiring Chinese workers
Mobs of white workers attacking Chinese
Chinese Exclusion Act (1882)
signed by President Chester A. Arthur
banned Chinese immigration
Mexican Americans
Arguments over who held land at the end of the MexicanAmerican War (and after the signing of The Treaty of
Guadalupe Hidalgo) led to bitter resentment between
Mexicans & Americans.
Las Gorras Blancas: a groups of Mexicans especially upset
about loss of land, targeted properties of very large ranch
owners; cut holes in barbed wire, burned houses
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