Post by djxkorean on Aug 3, 2009 15:46:49 GMT -8
18th President Ulysses S. Grant (1869-1877)
The President GRANTed(Grant) me a DoG(18) to buy at the SHoP(69). The dog was a KooK(77).
I. Election and Reelection
. . A. Election
. . . . 1. Radical Republicans: unanimously nominates Ulysses S. Grant
. . . . . . a. Grant wins 26 out of 34 states, w/ 3 states not voting
. . . . 2. Democrats: nominate colorless candidate Horatio Seymour
. . B. Reelection
. . . . 1. Grant’s reelection assured by vitality of “bloody shirt” attacks by Republicans
. . . . . . a. Democratic Party was to blame for the Civil war; powerful handicap for the Democrats
. . . . 2. Weakness of Democrats, not strength of Republicans, decided the election
. . . . 3. Liberal Republicans (anti-Grant Republicans)and Democrats: nominate Horace Greeley
. . . . . . a. Only similarity between Greeley and Democrats was Grant’s unsuitability for presidency and corruption of associates
. . . . . . b. Tariff: Greeley was an extreme protectionist, being Republican from birth of party
II. 1st Transcontinental Railroad (1869)
. . A. Railroad building was big
. . . . 1. Laying of tracks, building of bridges, bringing in supplies/construction materials, difficulties by weather, environment, and Native Americans
. . . . 2. Labor Force: Recruiting labor force from throughout US, western Europe, and China, housing and feeding the labor force
. . . . 3. Gov’t: grants of land and money by the gov’t, bribery and stealing that marred the railroad building
. . B. 1865: race between Central Pacific Railroad (Pacific coast -> center) and Union Pacific Railroad (union of roads east of Missouri River)
. . . . 1. Central Pacific: used Chinese workers , cut through Rockies and desert
. . . . 2. Union Pacific: used Irish laborers
. . . . 3. Met on May 10,1868 at Promontory Point, Utah; occasion marked by driving gold spike with silver sledge hammer
. . C. Building of transcontinental railroad: early in period of industrial expansion that dominates US history between Civil War and World War I.
. . . . 1. Maximum individual freedom and minimum gov’t control accepted as natural way of life (laissez-faire)
. . D. Railroads received aid from gov’t in form of subsidies and gifts
. . . . 1. prior to Civil War, considerable land given for turnpikes, canals, and railroads
. . . . 2. Desire to attract railroads to build through their state led legislatures that offered tax concessions, land and funds to outbid neighbor states.
. . . . 3. Railroads couldn’t have been built w/o substantial gov’t aid
. . . . 4. Early income for pioneering railroads came from sale of land at attractive rates to settlers
. . . . . . a. Early railroads in real estate, cattle, and grain business; controlled or sought control of Congress, state legislatures, and city councils
III. Corruption of Grant
. . A. Credit Mobilier: corporation to finance and construct Union Pacific made up of larger stockholders of Union Pacific.
. . . . 1. Sold supplies and construction materials at exorbitant prices; took contracts for multitude of individuals jobs and charged outrageously high fees
. . . . . . a. Resulted in Union Pacific paying fraudulently excessive prices . . and fees with profits rolling into Credit Mobilier
. . . . 2. Congressman Oaks Ames: agent for Credit Mobilier- sold/gave lucrative stock to Senators and Rep. in return for favors to Union Pacific
. . . . 3. Investigated after New York Sun reported scandal (Sept. 4, 1872): V.P. Colfax resigns and Rep. Ames receives vote of censure from House
. . B. Whiskey Ring
. . . . 1. Headed by General John McDonald in conspiracy to defraud US gov’t
. . . . . . a. Revenue officials allow distillers to sell portion of output w/o paying tax
. . . . . . . . i. i.e. distiller pays $5,000 less in tax by paying revenue official $3,000, saving distiller $2,000 but cheating gov’t out of $5,000
. . . . 2. Business owners reluctant to enter pressured into it by threats of harassment b revenue officials
. . . . 3. Whiskey fraud widespread and involved huge sums of money and involved gov’t insiders
. . . . . . a. Some officials Treasury Dept part of conspiracy: contributed to Grant’s reelection for protection
. . . . . . b. Grant’s private secretary (General O.E. Babcock) supervised ring’s activities from Washington
. . . . . . c. Chief clerk of Treasury Dept. on payroll to warn of any moves toward investigation
. . . . 4. April 1875: Secretary of Treasury (Benjamin H. Bristow) sends agents secretly to St. Louis to expose whole mess
. . C. Tweed Ring
. . . . 1. Boss William M. Tweed: Grand Sachem of Tammany Hall, Democratic Club of New York City
. . . . . . a. Tammany Hall effectively executed gigantic stealing from public
. . . . . . . . i. Contracts for goods and services purchased by city greatly exorbitant
. . . . . . . . ii. all types of organized vice and illegal activities by which money could be made
. . . . . . b. Thomas Nast depicts this in cartoon in “Harper’s Weekly”
. . . . . . . . i. Resulted in general public resent of Ring’s activities
. . . . 2. Total stolen by Tweed Ring from NYC: about $200million
IV. Panic of 1873
. . A. Precipitated by failure in Sept. 1873 of Jay Cooke & Company of Philadelphia
. . . . 1. most famous and presumably strongest financial institution in US
. . . . 2. Too much of its funds in dvlpmt in Northern Pacific Railroad
. . B. Reasons for economic collapse:
. . . . 1. Over extension of credit
. . . . 2. prevalence of fraud in both gov’t and private business
. . . . 3. thousands of investors using money for speculative ventures
. . C. Impact of Panic of 1873
. . . . 1. Western agriculture overextended to supply European market that European slump led to bigger depression in US
. . . . 2. Unemployment very high; hundred of thousands of enterprises fail; Farmers and factory workers face biggest brunt of hardships
. . D. Most violent event of depression: railroad strike of 1877
. . E. In about 6 years, depression had run its course and economic recovery set in
V. “Alabama” Claims (Geneva Tribunal) 1869-1872
. . A. Last acts of Secretary of State Seward to neogtiate w/ England attempt to recover damages caused during Civil War by commerce raiders
. . . . 1. By 1871, Secretary of State Hamilton Fish able to reach agreement with England to submit issue to int’l tribunal for arbitration
. . B. Findings were that England had clearly violated int’l law by permitting construction of commerce raiders in British shipyards
. . . . 1. US awarded $15 million (excess of actual property damage)
. . . . 2. Most significant result of diplomacy of S.o.S. Fish was signing of Treaty of Washington in 1871
. . . . . . a. England and US agreed to settle disputes over fisheries, boundaries, and “Alabama” by arbitration
Commentary: As one-fifth of Grant’s presidency is dedicated to corruption, it seems that with more economic stability with the collapse of the “slavery” question, there is more room for capitalism to emerge, and with capitalism, corruption. I am tickled by the fact that the government is so intertwined with corruption, although this seems a necessity in that such corruption wouldn’t be able to prosper without an insider. However, what is truly amusing is the fact that these “insiders” for the Credit Mobilier and the Whiskey Ring were NOT able to stop such investigation nor notify their bosses of such investigation, evident in that these corruption scams were revealed.
I wish that these descriptions were considerably longer, although that would make my workload in writing up outlines considerably more difficult. I have already read in great detail about the Tweed Ring as well as the cartoons by Thomas Nast depicting their corruption, but I wish their was more information and more detail on the Credit Mobilier and the Whiskey Ring. It is my opinion that the true works of the United States government can be seen only in capitalist companies which take part in corruption scams. To view only the positives of the US government would be biased, and the negative are only clearly made visible in things like the Credit Mobilier.
The President GRANTed(Grant) me a DoG(18) to buy at the SHoP(69). The dog was a KooK(77).
I. Election and Reelection
. . A. Election
. . . . 1. Radical Republicans: unanimously nominates Ulysses S. Grant
. . . . . . a. Grant wins 26 out of 34 states, w/ 3 states not voting
. . . . 2. Democrats: nominate colorless candidate Horatio Seymour
. . B. Reelection
. . . . 1. Grant’s reelection assured by vitality of “bloody shirt” attacks by Republicans
. . . . . . a. Democratic Party was to blame for the Civil war; powerful handicap for the Democrats
. . . . 2. Weakness of Democrats, not strength of Republicans, decided the election
. . . . 3. Liberal Republicans (anti-Grant Republicans)and Democrats: nominate Horace Greeley
. . . . . . a. Only similarity between Greeley and Democrats was Grant’s unsuitability for presidency and corruption of associates
. . . . . . b. Tariff: Greeley was an extreme protectionist, being Republican from birth of party
II. 1st Transcontinental Railroad (1869)
. . A. Railroad building was big
. . . . 1. Laying of tracks, building of bridges, bringing in supplies/construction materials, difficulties by weather, environment, and Native Americans
. . . . 2. Labor Force: Recruiting labor force from throughout US, western Europe, and China, housing and feeding the labor force
. . . . 3. Gov’t: grants of land and money by the gov’t, bribery and stealing that marred the railroad building
. . B. 1865: race between Central Pacific Railroad (Pacific coast -> center) and Union Pacific Railroad (union of roads east of Missouri River)
. . . . 1. Central Pacific: used Chinese workers , cut through Rockies and desert
. . . . 2. Union Pacific: used Irish laborers
. . . . 3. Met on May 10,1868 at Promontory Point, Utah; occasion marked by driving gold spike with silver sledge hammer
. . C. Building of transcontinental railroad: early in period of industrial expansion that dominates US history between Civil War and World War I.
. . . . 1. Maximum individual freedom and minimum gov’t control accepted as natural way of life (laissez-faire)
. . D. Railroads received aid from gov’t in form of subsidies and gifts
. . . . 1. prior to Civil War, considerable land given for turnpikes, canals, and railroads
. . . . 2. Desire to attract railroads to build through their state led legislatures that offered tax concessions, land and funds to outbid neighbor states.
. . . . 3. Railroads couldn’t have been built w/o substantial gov’t aid
. . . . 4. Early income for pioneering railroads came from sale of land at attractive rates to settlers
. . . . . . a. Early railroads in real estate, cattle, and grain business; controlled or sought control of Congress, state legislatures, and city councils
III. Corruption of Grant
. . A. Credit Mobilier: corporation to finance and construct Union Pacific made up of larger stockholders of Union Pacific.
. . . . 1. Sold supplies and construction materials at exorbitant prices; took contracts for multitude of individuals jobs and charged outrageously high fees
. . . . . . a. Resulted in Union Pacific paying fraudulently excessive prices . . and fees with profits rolling into Credit Mobilier
. . . . 2. Congressman Oaks Ames: agent for Credit Mobilier- sold/gave lucrative stock to Senators and Rep. in return for favors to Union Pacific
. . . . 3. Investigated after New York Sun reported scandal (Sept. 4, 1872): V.P. Colfax resigns and Rep. Ames receives vote of censure from House
. . B. Whiskey Ring
. . . . 1. Headed by General John McDonald in conspiracy to defraud US gov’t
. . . . . . a. Revenue officials allow distillers to sell portion of output w/o paying tax
. . . . . . . . i. i.e. distiller pays $5,000 less in tax by paying revenue official $3,000, saving distiller $2,000 but cheating gov’t out of $5,000
. . . . 2. Business owners reluctant to enter pressured into it by threats of harassment b revenue officials
. . . . 3. Whiskey fraud widespread and involved huge sums of money and involved gov’t insiders
. . . . . . a. Some officials Treasury Dept part of conspiracy: contributed to Grant’s reelection for protection
. . . . . . b. Grant’s private secretary (General O.E. Babcock) supervised ring’s activities from Washington
. . . . . . c. Chief clerk of Treasury Dept. on payroll to warn of any moves toward investigation
. . . . 4. April 1875: Secretary of Treasury (Benjamin H. Bristow) sends agents secretly to St. Louis to expose whole mess
. . C. Tweed Ring
. . . . 1. Boss William M. Tweed: Grand Sachem of Tammany Hall, Democratic Club of New York City
. . . . . . a. Tammany Hall effectively executed gigantic stealing from public
. . . . . . . . i. Contracts for goods and services purchased by city greatly exorbitant
. . . . . . . . ii. all types of organized vice and illegal activities by which money could be made
. . . . . . b. Thomas Nast depicts this in cartoon in “Harper’s Weekly”
. . . . . . . . i. Resulted in general public resent of Ring’s activities
. . . . 2. Total stolen by Tweed Ring from NYC: about $200million
IV. Panic of 1873
. . A. Precipitated by failure in Sept. 1873 of Jay Cooke & Company of Philadelphia
. . . . 1. most famous and presumably strongest financial institution in US
. . . . 2. Too much of its funds in dvlpmt in Northern Pacific Railroad
. . B. Reasons for economic collapse:
. . . . 1. Over extension of credit
. . . . 2. prevalence of fraud in both gov’t and private business
. . . . 3. thousands of investors using money for speculative ventures
. . C. Impact of Panic of 1873
. . . . 1. Western agriculture overextended to supply European market that European slump led to bigger depression in US
. . . . 2. Unemployment very high; hundred of thousands of enterprises fail; Farmers and factory workers face biggest brunt of hardships
. . D. Most violent event of depression: railroad strike of 1877
. . E. In about 6 years, depression had run its course and economic recovery set in
V. “Alabama” Claims (Geneva Tribunal) 1869-1872
. . A. Last acts of Secretary of State Seward to neogtiate w/ England attempt to recover damages caused during Civil War by commerce raiders
. . . . 1. By 1871, Secretary of State Hamilton Fish able to reach agreement with England to submit issue to int’l tribunal for arbitration
. . B. Findings were that England had clearly violated int’l law by permitting construction of commerce raiders in British shipyards
. . . . 1. US awarded $15 million (excess of actual property damage)
. . . . 2. Most significant result of diplomacy of S.o.S. Fish was signing of Treaty of Washington in 1871
. . . . . . a. England and US agreed to settle disputes over fisheries, boundaries, and “Alabama” by arbitration
Commentary: As one-fifth of Grant’s presidency is dedicated to corruption, it seems that with more economic stability with the collapse of the “slavery” question, there is more room for capitalism to emerge, and with capitalism, corruption. I am tickled by the fact that the government is so intertwined with corruption, although this seems a necessity in that such corruption wouldn’t be able to prosper without an insider. However, what is truly amusing is the fact that these “insiders” for the Credit Mobilier and the Whiskey Ring were NOT able to stop such investigation nor notify their bosses of such investigation, evident in that these corruption scams were revealed.
I wish that these descriptions were considerably longer, although that would make my workload in writing up outlines considerably more difficult. I have already read in great detail about the Tweed Ring as well as the cartoons by Thomas Nast depicting their corruption, but I wish their was more information and more detail on the Credit Mobilier and the Whiskey Ring. It is my opinion that the true works of the United States government can be seen only in capitalist companies which take part in corruption scams. To view only the positives of the US government would be biased, and the negative are only clearly made visible in things like the Credit Mobilier.