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Grant is inaugurated (VUS.7d,f)
As a war hero and most electable candidate, Grant urged Radical Republicans not to be harsh with former Confederates. Elected President and served during most of Reconstruction, Grant advocated rights for the freedman and opposed retribution directed to the defeated South. Even though his administration was marred with scandals, he was never implicated in others’ corruption. -
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Ulysses S Grant Administration
As a war hero and most electable candidate, Grant urged Radical Republicans not to be harsh with former Confederates. Elected President and served during most of Reconstruction, Grant advocated rights for the freedman and opposed retribution directed to the defeated South. Even though his administration was marred with scandals, he was never implicated in others’ corruption. -
Grant and Reconstruction (VUS.7d,f)
Grant continued military occupation of the South to enforce Reconstruction policies. While supporting certain rights for the freedmen, he strongly opposed punitive acts towards the former Confederates. Read MORE -
Scandal; Black Friday
Speculators James Fisk and Jay Gould set out to corner the Gold Market. They employed the President’s brother-in-law to exercise his influence on the White House. When Grant realized what they were doing, he sold off gold reserves, which caused ruination of some businesses. Ooops. -
Completion of the Transcontinental Railroad (VUS.7d)
The completion of the Transcontinental Railroad soon after the war ended intensified the westward
movement of settlers into the states between the Mississippi River and the Pacific Ocean. Now, the settlers in the west were connected to cities in the east as crops, products and people moved more quickly across the country. Read MORE -
Cornelius Vanderbilt Consolidated Lines (VUS.8b)
Vanderbilt began as a steamship entrepreneur, and then built a great railroad empire after the Civil War.
By controlling amounts of track, he would battle his challengers with lower rates and then purchase their tracks to bring under his control. MORE -
15th Amendment Ratified (VUS.7d)
prohibits each government in the United States from denying a citizen the right to vote based on that citizen's "race, color, or previous condition of servitude". However, while these political freedoms were enjoyed during Reconstruction by the freedmen, they were short lived. Like the 14th Amendment, southern states developed ways around this to deprive suffrage. Read MORE -
John D Rockefeller founds Standard Oil (VUS.8b)
Established as a corporation in Ohio, this company grew to dominate the Oil Industry. As one of the major Captains of Industry, Rockefeller’s ability to advertise, consolidate and entrust his enterprises made him one of the most wealthy Americans during The Gilded Age. Eventually his trust would be broken up. Read MORE -
JP Morgan’s Company is in business (VUS.8b)
A Captain of Industry, JP Morgan revolutionized the banking industry. His corporations and trusts became economic giants, twice bailing out the government to prevent economic collapse. Eventually, he would buy out even Andrew Carnegie to become one of the wealthiest people in the world. Read MORE -
Scandal; Credit Mobilier
Officers of the Credit Mobilier holding company were skimming profits from the construction of the Union Pacific Railroad, which was subsidized by the Government. Stocks were offered as bribes – Ooops. -
Boss Tweed goes Down! (VUS.8d)
Rising to power in the mid-1800’s, this was the most notorious political machine – located in New York. After stealing millions of dollars from the city, the Boss was convicted after the New York Times ran a series of articles exposing the corruption. Still, other political machines would rise a fall in the cities of America during the Gilded Age. MORE on political machines -
Panic of 1873 (VUS.7d)
Further harming the prestige of President Grant, the failure of Jay Cooke and Company preceded a panic that led to a five year depression. It was also fueled by an economic collapse in Europe, and the depressed state of the insurance industry. Many businesses failed and Americans began to lose interest in Reconstruction policies. Read MORE -
Scandal; Delinquent Tax Corruption
The Secretary of Treasury (Bill Richardson) appointed a special agent to collect delinquent taxes. The arrangement allowed the collector to keep 50% of what he collected. -
Scandal; The Whiskey Ring
Hundreds of distillers and federal officials were suspected of diverting millions of dollars in liquor taxes into their own pockets. The scandal reached Grant’s personal secretary, Orville Babcock. Ooops. -
Scandal; The Belknap Bribery
Secretary of War WW Belknap had been taking kickbacks from traders at Indian posts. He resigned before an impeachment trial ensued in the Senate. Ooops. -
Bell invents the Telephone
“Can you hear me now?” Well, the first words across the line were actually, "Mr. Watson -- come here -- I want to see you." The telephone would greatly improve communication, which would not only improve information industries, but improve other industries as well! Sorry Mr. Morse, the telegraph is now out of date! Read MORE
