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American Pageant Chapter 23

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Chapter 23 Review Video ?Bloody Shirt? Using Civil War memories to receive votes Administration Scandals: Credit Mobilier: Railroad insiders hired themselves at inflated prices VP of US accepted payments Whiskey Ring: Stole excise-tax revenues from Treasury department Grant?s private secretary was involved Boss Tweed: Tammany Hall, stole over $200 million Thomas Nast helped contribute to his capture President Grant?s Administration Causes: Overproduction of RR?s, mines, factories, etc. Bankers made too many risky loans Effects: Debate over hard currency vs. greenbacks Debtors wanted greenbacks. Why? Paper $, inflation decreased value Lenders wanted hard currency. Why? Hard $, not affected by inflation, increased value Panic of 1873 VS ?Solid South?:

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