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Credit Mobilier, Whiskey Ring

656 Words3 Pages

U.S. Grant 1869-1877 Credit Mobilier, Whiskey Ring-1872/1875. 7. In the Credit Mobilier affair, members of the Credit Mobilier construction company gave stock and cash bribes to congressmen to avoid the discovery of immense profits from transcontinental railroad subsidies. In the Whiskey Ring, federal revenue agents and whiskey producers plotted to divert millions in government tax revenues. These instances showed the corruption of alliances between big business and government and made Americans distrustful of politicians’ motives. Politicians and businessmen alike exploited government revenue from railroads and whiskey taxes for personal profit. Panic of 1873-1873. 6. Due to overspeculation and overbuilding, widespread depression and business failures ensued. As a result, struggling debtors …show more content…

Democrat Samuel Tilden won a clear majority of the popular vote and needed only one electoral vote from the contested returns of three states in order to beat Republican Rutherford B. Hayes. An electoral commission was temporarily created to determine who would receive the contested returns, but the electoral commission had a Republican majority. Therefore, the electoral commission gave all the electoral votes to Hayes, angering Democrats because Tilden needed only one vote to win, while Hayes ended up winning the electoral vote. The results of this election were resolved peacefully by the Compromise of 1877. The Compromise of 1877- 5. Rutherford B. Hayes would become president if he removed federal troops from the South and promoted a southern transcontinental railroad. The withdrawal of federal troops led to the end of the Reconstruction in the South and allowed Democratic Redeemers to retake control of the South. This resulted in black disenfranchisement and violation of rights because the Redeemers supported white supremacy and states’ rights. Also, the plans for a southern transcontinental railroad and southern industrialization never quite took

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