Reconstruction: Scandals and Money Crisis Hurt Republicans

1. Reconstruction: Scandals and Money Crisis Hurt Republicans By: Idell Decoteau Christian Perez Kevin Ribot

2. Examples Of Corruptions In The Grant Administration • The Grant administration was politically corrupt in that it was full of liars and self-indulgent swindlers. President Grant himself was known for being easily swayed by bribes and luxuries such as fine cigars, wines, and horses

3. What Effect Do You Think The Panic Of 1873 Might Have Had On The Republican Party ? • Many farmers and working men in the South were anticipating Grant to sign the bill in order to promote growing business needs. On April 22, 1874, Grant unexpectedly vetoed the bill, going against the popular demands of Republican Party, on the thought that it would destroy the nation’s credibility. Grant generally favored the bill, but cited his reasons of change as personal.

4. Causes And Effects On The Panic Of 1873 • Causes: After the Civil War occurred no one paid back loans and banks ran out of money. • Being that the big banks ran out of money that meant big businesses ran out of money • Unemployment rates skyrocketed as a result of the hindered economic rates. • Effects: Banks closed down immediately • Jobs were extremely hard to find and businesses soon seized daily operations • Everyone succumbed into in poverty and harsh ways of living.