Fisk and Gould (Gold Market)


Fisk and Gould cornered the gold market but were stopped

Tweed Scandal


The infamous Tweed Ring (AKA, “Tammany Hall) of NYC, headed
by “Boss” Tweed, employed bribery, graft, and fake
elections to cheat the city of as much as $200 million.

Crédit Mobilier Scandal


Railroad company that tried to pay themselves

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

Debtors now cried that silver was under-valued (another call for
inflation), but Grant refused to coin more silver dollars

Civil Rights Act of 1875


Whiskey Ring Scandal


robbed the Treasury of millions in
excise-tax revenues.

“Let no guilty man escape,”
declared President Grant. But when his own private
secretary turned up among the culprits, he volunteered a written statement to the jury that helped
exonerate the thief

Resumption Act Passed


pledged the government to the further withdrawal
of greenbacks from circulation and to the redemption of all paper currency in gold at face value,
beginning in 1879.

The Hayes-Tilden Standoff, 1876


Grant almost ran for a third term before the House derailed that
proposal, so the Republicans nominated Rutherford B. Hayes, dubbed the
“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
The disputed states had sent in two sets of returns, one Democrat, one Republican.

Railroad Strikes


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.

The Compromise of 1877


Military rule ended in the south

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.

Greenback Labor Party Created


The Republican hard-money policy, unfortunately for it, led to the
election of a Democratic House of Representatives in 1874 and spawned
the Greenback Labor Party in 1878.

Bland-Allison Act


instructed the Treasury to buy and
coin between $2 million and $4 million worth of silver bullion each

Garfield defeats Hancock for presidency


Close, but Garfield squeaked by

Chinese Exclusion Act


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.