THE GILDED AGE, Politics during the Gilded Age…the “forgettable presidents”

U.S. Grant, “Waving the Bloody Shirt” –Civil War hero –Union as conquerors “Ohio Idea” –“repudiation” of war bonds in greenbacks Wealthy north want gold Scandals rack Grant’s presidency –Fisk and Gold, the gold market –Tweed Ring (William Tweed, NYC) –Credit Mobilier (Union Pacific) –Whiskey Ring (Excise tax) –Secretary of War Belknap Panic of 1873 –Over production of RR, mines, factories, farm products –Banking not regulated –Depreciation of Greenbacks

The Greenback Controversy Issued during Civil War –Help to pay for Union supplies/men Specie Resumption Act, 1875 –Withdraw of Greenbacks –Paper backed with gold –Less paper money in circulation Debtors want silver! –Inflation increases the money supply –Silver 1/16 of gold’s worth (“crime of 1873”) –Bland-Allison Act, 1878 Legal minimum Greenback Labor Party –Soft money advocates…elect 14 members to Congress, 1879

Politics in the Gilded Age Coined by Mark Twain Competitive political elections –High voter turnout –Tariff and “soft money” biggest issues GAR highly influential Democrats in “solid south” Factions: Stalwarts versus Half-Breeds –Roscoe Conkling vs. James Blaine –Mugwumps (Thomas Nast)

Compromise of 1877 Election of 1876 –Hayes versus Tilden –Disputed electoral votes –House of Representatives End of Reconstruction, 1877 –Withdraw of all federal troops –“The New South” Garfield and Arthur in 1880 –Half-Breed and Stalwart –Pendleton Act, 1883

Blaine versus Cleveland, 1884 Corruption of the Republicans –GAR Laissez-Faire economics Protective Tariff Issue –Treasury Surplus –Stifled foreign trade Landmarks during Cleveland’s Administration –Dawes Severalty Act –ICC (Interstate Commerce Commission)

Benjamin Harrison, 1888 Tariff Issue is primary! –McKinley Tariff Act, 1890 (48%) Political Bossism –Thomas Reed, “Czar Reed” –Sherman Silver Purchase Act, 1890 (bimetallism) –Sherman Anti-Trust Act Used against labor Companies protected under 14 th Amendment

POLITICAL RISE OF THE FARMER!!!! National Grange of the Patrons of Husbandry (The Grange), 1867 –Social and educational activities –Cooperatives: grain elevators, stories, dairy –Munn v. Illinois, 1887 (state regulation of prop) Wabash Case (overturn Munn) Greenback Labor Party –Soft money –James Weaver Populist Party, 1890s –Farmer’s Alliance Various “alliance’s” unite –“The People’s Party” (Populist) Ignatius Donnelly, Mary Lease, “Sockless” Jerry Simpson, Tom Watson –The “Black” factor “Pitchfork” Ben Tillman Disenfranchisement and Jim Crow

Grover Cleveland Once Again! 1892 Populist Party –Weaver and the Ohio Platform Worker Strikes –Homestead Steel and Pullman Pinkertons and government injunctions Panic of 1893 –1 st urban/industrial depression –Collapse of stock market –Overproduction/building (RR) –Labor disputes interrupt trade/business Morgan Bond Transaction, 1894 –Gold reserves in trouble (pay out for silver and European debts) –JP Morgan lends $65 million in gold Coxey’s Army, 1894 –Increase soft money Wilson Gorman Bill, 1894 –2% tax on wealthy, 41% rather than 48% protective tariff

William McKinley: Last Forgettable President, 1896 Again, tariff and money supply biggest issues –Mark Hanna, McKinley’s political boss –“Trickle down” economics William Jennings Bryan –Populist and Democrat! –“Cross of Gold” speech –United middle class defeats Bryan…McKinley wins in 1896

McKinley’s Presidency, Dingley Tariff, 1897 –41% to 47% Gold Standard Act, 1900 –End of pro-silver movement Teddy Roosevelt as Vice President, 1900 –“TR takes the veil” –Progressive Republican –End of “forgettable presidents,” 1901

Themes of the Gilded Age Hard vs. Soft Money Industrialization: banking, oil, steel, RR, electricity by 1890s Agrarian to urban nation btw 1865 and 1920 Unions and Reform movements try to curb excesses of industrialization Immigrants from southern/eastern Europe Industry of the West: farming, mining, cattle Social class stratification more than any other time period in US history