1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SashulF [63]
3 years ago
5

Use an encyclopedia, the Internet, or other sources to research the following Reconstruction scandals: The Tweed Ring in New Yor

k The Credit Mobilier Scandal Black Friday The Dawes Acts (including civil service reforms) Write at least 300 words about each of these four scandals. In your own words describe the people involved, the consequences of their actions, etc. Your entire report should be 1,200 words in length.
History
2 answers:
ikadub [295]3 years ago
8 0

Answer:

The Gold Ring was made by Jay Gould and James Fisk. The president  of the United States, Ulysses  S. Grant, tried to stabilize the US dollar, boost the economy, and tried to pay off the national debt caused by the Civil War. He tried to do this by selling gold every week. He signed the Public Credit Act, which let citizens have their bonds repaid in gold. President Grant had George Boutwell in charge of the United States Treasury and he started selling gold on a weekly basis to buy US wartime bonds. He improved the tax collecting methods to avoid counterfeiting and was able to keep the gold price low. Jay Gould and James Fisk tried to receive confidential information from President Grant about the selling of gold. They wanted to stop the president from selling the gold weekly so that the price of gold could rise again. Grant ordered a lot of gold to be sold on Friday 24th of September 1869 called “Black Friday’’ and he sold the gold for very little. So little that Jay Gould and James Fisk actually lost most of their money.

Hope this helped:)

pickupchik [31]3 years ago
4 0

Black Friday

The Gold Ring was formed by Jay Gould and James Fisk.  The then president  of the United States, Ulysses  S. Grant, made an effort to stabilize the US dollar,  boost the economy after the hits of the civil war, and also to pay off the national debt caused by the war. He tried to do this by selling treasury gold every week. The first step he took to get a grip on the economy was to sign the Public Credit Act, which enabled citizens to have their bonds repaid in gold or the equivalent and so get a more secure circulation of “sound money “. Moreover,  president Grant placed the very talented George Boutwell in charge of the United States Treasury and he started selling gold on a weekly basis to buy US wartime bonds.  At the same time he improved the tax collecting methods to avoid counterfeiting and was able to keep the gold price and the money supply level artificially low. Jay Gould and James Fisk infiltrated in the social circles of  president Grant to receive confidential information of the selling of gold. They plotted to stop the president from selling the gold weekly, so that the price of gold could rise again. They also fed the president with false premonitions that the gold selling would harm farmers. When they thought that they found a profitable price to buy gold, they did so, in order to sell the gold again later for a higher price and so increase their wealth.  But the president came to know about their foul scheme and he ordered more gold to be sold on this particular Friday ,24th of September 1869 ,called “ Black Friday’’ and in this way the price of gold went so low that Gould and Fisk lost most of their money.  

The Dawes Acts (including civil service reforms)

The 1887 Dawes Act, gave the authority to the president of the United States to allot Native American tribal land to individual Native Americans. If they accepted these allotments and would go live separately from their tribes, they would be granted the US citizenship.  The creator of the act was Massachusetts senator Henry Laurens Dawes. The Dawes Act was a way to transfer tribal and communal ownership of land into individual ownership, and also to give non-Native Americans the chance to purchase these lands. In 1891 the Dawes Act was amended, then in 1898 into the Curtis Act and then again in 1906 by the Burke Act. For decades after these Acts, the Tribal communities have sold a great part of their communal land to non-Native Americans and in this way the government managed to destroy their tribal way of living . The aim of the government was to open the Indian lands for  European- American settlers to farm and make way for railroads. Through this Act,  tribal owned land in America decreased from 138 million acres in 1887 to only 48 million acres in 1934. The Dawes act had an impact on the gender roles and the social structure in the Native American community because to be able to receive land, the women had to be officially married. Before, the women had control over property and descent because of the matrilineal tribal society.  Now the men had to go out working in the fields while the women had to do domestic chores. The original plan, concocted by Henry Dawes to create respectable farmers according to the European –American model has failed and left the tribal community as mere survivors of destruction.


You might be interested in
Was nyas fictional story necessary to tell salvas true story
Pavel [41]
Nya is fictional, but is likely a composite of people, with her experiences real for people of the region. its a true story says on the front of the book
6 0
2 years ago
Choose the right party to complete the sentence.
Alex73 [517]

Answer:

The Democratic Party

Explanation:

6 0
3 years ago
Read 2 more answers
According to Marx, what major factor impedes the progress of the proletariat?
liberstina [14]

Answer:

According to Marx, a major impedament is the discord among the proletariat.

Explanation:

The persons with the most resources have a tendency to be in control, the top 5% verus the other 95%. The proletariat is too divided into many issues, which prevents them from joining forces to overtake the top 5%. Marx theorized that if the proletariat were to join forces collectively, they could affect change in their direction.

7 0
2 years ago
Read 2 more answers
How does Congress react to Paulson requesting a bailout of US banks totaling over 7 billion dollars?
murzikaleks [220]

The correct answer to this open question is the following.

Although there are no options attached we can say the following.

How does Congress react to Paulson requesting a bailout of US banks totaling over 7 billion dollars?

Congress acted against it, and the House of Representatives voted against Paulson requesting.

Let's remember the moment. It was September 20, 2008, when US Secretary of the Treasury, Henry Paulson, submitted this proposal to the lower house of Congress. The House of Representatives discussed the proposal but considered that it was a tax imposition for US citizens to try to save the bad decisions of the bankers. So on September 29, the House of Representatives voted against the proposal, and immediately the stock changes of the world -including the New York stock exchange, of course- plummeted.

President George W. Bush had to swiftly react and signed the EESA Act (the Emergency Economic Stabilization Act of 2008 to rescue the financial institutions and banks with $700 billion.

3 0
3 years ago
Which of the following is a major factor that separates regular warfare from total war? A. Civilians were forced to house and fe
amm1812

Answer:

Civilians were forced to house and feed soldiers

Explanation:

...........

8 0
3 years ago
Other questions:
  • What are some questions you should ask yourself when judging the quality of a primary source
    13·1 answer
  • How has oil then significant to the middle eastern politics
    14·2 answers
  • What is the name of the 10th president
    10·2 answers
  • Why did johnson and congress clash over reconstruction?
    11·1 answer
  • Why is Ancient Mesopotamia described as the cradle of civilization?
    15·2 answers
  • What lead to resentment and violence among many white southerners after the civil war
    10·2 answers
  • Civil service positions were created so that federal jobs would be given to what type of people
    11·1 answer
  • What is the predominant use of oil in america
    10·2 answers
  • The Committee for Industrial Organization _____.
    11·1 answer
  • What was one major cause of the Second Gulf War?
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!