The Politics of The Gilded Age. The 1868 Presidential Election

Transcription

1 The Politics of The Gilded Age The 1868 Presidential Election 1

2 Learning Objectives 2 Examine politics during the Gilded Age and the similarities between the Republican and Democratic Parties. Explain the inability of the political system to respond effectively to the nation s rapid economic changes.

3 Major Issues of the Campaign 3 Republicans wanted to continue Congressional Reconstruction and to wave the bloody shirt of the recent Civil War. Northern Democrats denounced Reconstruction the party was preoccupied with the question of monetary policy Hard money: money backed by gold or silver Soft money or fiat money: Currency that a government has declared to be legal tender, but is not backed by a physical commodity.

4 Major Issues of the Campaign 4 Greenbacks and government bonds had been issued to pay for the war. Eastern Democrats wanted to redeem all GREENBACKS & Federal bonds with gold Western Democrats- redeem bonds with Greenbacks (this was inflationary) most southern Democrats had been disenfranchised

5 Key Points 5 Most white voters of both the North & the South supported the Democratic candidate the vote of 500,000 former slaves in the South was the key to Grant s victory The Republican Party realized it had to continue to control the South to remain in power

6 The Grant Administration s Corruption Problems 6 Copyright 1997 State Historical Society of Wisconsin

7 Jim Fisk and Jay Gould; October 24, Microsoft Encarta Microsoft Encarta Attempted to corner the U.S. gold market the U.S. Treasury sold gold reserves and prices fell this was known as Black Friday

8 The Tweed Ring: New York City (1871) 8 Wm. Marcy Boss Tweed Received $200 million through fraud and graft ($2.5 billion in today s money) Cartoonist Thomas Nast of the New York Times helped dethrone Boss Tweed Microsoft Encarta

9 Microsoft Encarta Let Us Prey, by Thomas Nast 9

10 The Credit Mobilier Scandal (1872) 10 Credit Mobilier was the construction company for the Union Pacific transcontinental railroad it overcharged the U.S. government for service performed it bought influence in Congress by distributing stock to Congressmen. Thus protecting itself from Congressional investigation.

11 Railroad and Federal Land Grants: Bailey & Kennedy:The American Pageant, Interactive Edition

12 The Whiskey Ring (1875) 12 The Whiskey Ring was an attempt to rob the U.S. Treasury of excise taxes collected on the manufacture of whiskey. President Grant s private secretary was implicated in the scandal. Grant had no knowledge of the affair but the scandal showed how inept his administration really was.

13 The Election of The Republicans re-nominated Grant for President. Liberal Republicans broke with Grant over the pervasive corruption in his administration. The Liberal Republicans nominated Horace Greely, editor of the New York Tribune newspaper

14 The Election of The Democratic Party also nominated Greely (example of political party fusion) The election campaign consisted of mudslinging on both sides Grant won / showed the importance of disenfranchised Southern white voters This election is significant because it caused the Republican Party to begin to reform.

15 15 Problems in the Second Grant Administration The Panic of 1873 and the Question of Monetary Policy

16 The Panic of The Panic of 1873 was caused by business expansion that was much too rapid. Businesses produced too many goods as demand declined. The effect was that the economy contracted. businesses did not generate profits no loans were repaid many banks defaulted.

17 The Panic of 1873: Effect 17 15,000 business bankruptcies caused inflationists to gain ground. Inflationists wanted to repay loans with Greenbacks Make Greenbacks legal tender for all debts.

18 The Question of Currency Policy Inflationists wanted soft-money which was not 100% backed by gold. Generally, these people were agrarians and debtor groups. Inflationists wanted to re-issue Greenbacks so they could pay off their debts with inflated money not backed by gold specie. 18

19 The Question of Currency Policy The Hard-Money advocates were drawn from the business and banking class. They wanted all money backed by gold and wanted to remove Greenbacks from circulation. Wanted deflation of the currency so it would maintain its value.( each dollar is worth more) 19

20 Resumption Act of 1875 (Contraction of the Money Supply) 20 The Federal Government would remove Greenbacks from circulation this would reduce the supply of dollars The Government would redeem all paper money at face value with gold. This would increase the value of each dollar. The Resumption Act was a victory for business, industry, and banking interests.

21 Bland-Allison Silver Purchase Act:1878 (Expansion of the Money Supply) Was passed following the discovery of gold and silver deposits in Colorado & Nevada. The Act pledged the Government to place $2-4 million worth of new silver coin in circulation each month. Inflationists urged the issuance of silver coin at a ratio of 16 to 1 21

22 Gilded Age Politics:

23 Politics: Neither political party maintained political dominance during the Gilded Age. Control of the House of Representatives changed from one party to the other in 6 of 11 Congressional elections. Politicians of both parties were not inclined to take bold, firm stands on issues.

24 24 Both political parties saw eye to eye on the major issues, such as tariffs, the currency, and civil service reform. Although there was political consensus on most major issues, there remained great PARTISAN fervor partisanship was the life blood of both parties partisanship was rewarded with political patronage & the spoils system

25 25 Beliefs of the Major Political Parties

26 The Republicans 26 Believed government should play a role in regulating both economic and moral affairs Party controlled the mid-west, rural and small-town Northeast, and had significant Black support in the South. Known as the Grand Old Party (G.O.P.)

27 The Republicans 27 Turmoil in the party centered on the issue of patronage and civil service reform The STALWARTS faction was led by Sen. Roscoe Conkling (R- N.Y.) use the spoils system to maintain power The HALF-BREEDS reformers led by Sen. James G. Blaine (Maine) who supported civil service reform

28 Democrats 28 Against any government effort to impose a single moral standard for society. Was the political party of many diverse ethnic groups and immigrants possessed a solid electoral base in the South after 1877 (Solid South: ) politically strong in Northern industrial cities, with immigrants, political machines

29 29 The Election of 1876 and The Compromise of 1877

30 The Republicans 30 The Stalwarts & Half-breeds stalemated each other at the convention. they turned to Gov. Rutherford B. Hayes of Ohio as a compromise candidate.

31 The Democrats 31 The Democrats united behind Gov. Samuel Tilden of New York. They campaigned against the scandals of the Grant Administration. They came out in favor of civil service reform in government.

32 The Election of 1876 Democrat Tilden led in both the popular and electoral vote. Tilden was one electoral vote short of winning the election, with 20 disputed electoral votes (19 from 3 Southern states) Neither party controlled both houses of Congress; a constitutional crisis loomed! Question of who would count the disputed votes? 32

33 Hayes-Tilden Disputed Election of 1876 (with electoral vote by state) Nineteen of the twenty disputed votes composed the total electoral count of Louisiana, South Carolina, and Florida. The twentieth was one of Oregon s three votes, cast by an elector who turned out to be ineligible because he was a federal officeholder (a postmaster), contrary to the Constitution (see Art. II, Sec. I, para. 2). Copyright (c) Houghton Mifflin Company. All Rights Reserved.

34 The Compromise of The Republican electoral vote was accepted in the 3 disputed states, causing Hayes to win the election. Republicans agreed to remove Federal troops that were occupying the South. Republicans agreed to provide the South with financial aid for internal improvements and Federal patronage jobs.

35 Effect of the Compromise of Political and social reconstruction of the South ended. Republicans sacrificed the freedmen of the South. Republicans abandoned their commitment to black equality in return for the Presidency.

36 Effect of the Compromise of Southern Republican governments collapsed after Federal troops were removed. Solid Democratic South suppressed blacks economic bondage social, eco., & legal segregation developed Blacks were disenfranchised Plessey v. Ferguson(1896) separate but equal

37 37 Presidential Administrations of the Gilded Age

38 Rutherford B. Hayes (R) Microsoft Encarta Had turbulent relations with Congressional Democrats and Republicans Republican Party was troubled by factionalism Labor disturbances; Chinese immigration bill vetoed

39 Copyright 1997 State Historical Society of Wisconsin James A. Garfield (R) March-Sept A compromise candidate between the Republican factions assassinated by an spoilsman officeseeker the 2nd president to be assassinated in office

40 Chester A. Arthur (R ) ( ) Microsoft Encarta 40 Refused to use presidential power to reward political cronies. Attempted to end factional strife between the Stalwarts and Half-breeds supported civil service reform efforts

41 The Pendleton Act of 1883 Passed during Arthur s administration established a merit system for making civil service appointments to federal jobs. The act partially divorced politics from patronage. Banned cash contributions from federal workers to candidates. Result Politicians then began to solicit money from big corporations 41

42 Grover Cleveland-D ( ) 42 Copyright 1997 State Historical Society of Wisconsin

43 Presidential Election of 1884 (with electoral vote by state) After a contentious and negative campaign, Grover Cleveland, the sitting governor of New York, became the first Democrat elected to the office of the Presidency since James Buchanan, before the start of Civil War. Copyright (c) Houghton Mifflin Company. All Rights Reserved.

44 Grover Cleveland-D ( ) Only president to serve 2 non-consecutive terms election was full of mudslinging and personal attacks MUGWUMPS deserted the Republican party and supported Cleveland. Cleveland was a staunch supporter of laissez-fair capitalism & the business class 44

45 Little Lost Mugwumps Who Had Gone Astray James G. Blaine, depicted as Little Bo Peep, tries to woo the errant Mugwump reformers back into the Republican fold in The Granger Collection

46 Cleveland s Reforms Passed the Presidential Succession Act Department of Agriculture created Passed the Electoral Count Act established a procedure to counting electoral votes. Supported lowering the Tariff reduce surplus funds in the Treasury. Became the major issue of the 1888 presidential campaign 46

47 Benjamin Harrison-R ( ) 47 Microsoft Encarta Was a very inept politician supported and passed the McKinley Tariff in This high tariff raised the general level of duties helped business class

48 President Harrison Disposes of Surplus, 1892 After four years out of office under Cleveland, the Republican controlled Congress yearned to make up for lost time by spending heavily and rewarding the faithful. Between Republican president Benjamin Harrison and forceful Republican Speaker of the House Thomas Reed, 1890 saw Congress pass the first billiondollar budget. Public domain