grant’s black friday

Grant’s Black FridayPresident 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 AgeSegregation 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 Mexican-American 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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