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Visit the PBS Scrap Book for information on Mark Twain’s life and marriage at the time he wrote The Gilded Age: A Tale of Today .

The election of 1876 sets the tone

In many ways, the presidential election of 1876 foreshadowed the politics of the era, in that it resulted in one of the most controversial results in all of presidential history. The country was in the middle of the economic downturn caused by the Panic of 1873, a downturn that would ultimately last until 1879, all but assuring that Republican incumbent Ulysses S. Grant would not be reelected. Instead, the Republican Party nominated a three-time governor from Ohio, Rutherford B. Hayes. Hayes was a popular candidate who advocated for both “hard money”—an economy based upon gold currency transactions—to protect against inflationary pressures and civil service    reform, that is, recruitment based upon merit and qualifications, which was to replace the practice of handing out government jobs as “spoils.” Most importantly, he had no significant political scandals in his past, unlike his predecessor Grant, who suffered through the Crédit Mobilier of America scandal . In this most notorious example of Gilded Age corruption, several congressmen accepted cash and stock bribes in return for appropriating inflated federal funds for the construction of the transcontinental railroad.

The Democrats likewise sought a candidate who could champion reform against growing political corruption. They found their man in Samuel J. Tilden, governor of New York and a self-made millionaire, who had made a successful political career fighting corruption in New York City, including spearheading the prosecution against Tammany Hall Boss William Tweed, who was later jailed. Both parties tapped into the popular mood of the day, each claiming to champion reform and promising an end to the corruption that had become rampant in Washington ( [link] ). Likewise, both parties promised an end to post-Civil War Reconstruction.

Two campaign posters are shown. Poster (a) contains illustrations of Rutherford B. Hayes and William A. Wheeler, labeled “Gov. Rutherford B. Hayes/For President” and “Hon. W.M.A. Wheeler/For Vice President.” Above them, an eagle bears a flag and the label “Liberty and Union.” Poster (b) is headed “The Champions of the People’s Rights. Economy, Honesty, and Reform. Prosperity & Happiness for Our People.” Below, two illustrations are labeled “Samuel J. Tilden/Democratic Candidate for President” and “Thomas A. Hendricks/Democratic Candidate for Vice-President.” The candidates’ portraits are surrounded by illustrations of three gowned women, the third bearing an American flag, and lush greenery.
These campaign posters for Rutherford B. Hayes (a) and Samuel Tilden (b) underscore the tactics of each party, which remained largely unchanged, regardless of the candidates. The Republican placard highlights the party’s role in preserving “liberty and union” in the wake of the Civil War, hoping to tap into the northern voters’ pride in victory over secession. The Democratic poster addresses the economic turmoil and corruption of the day, specifically that of the Grant administration, promising “honesty, reform, and prosperity” for all.

The campaign was a typical one for the era: Democrats shone a spotlight on earlier Republican scandals, such as the Crédit Mobilier affair, and Republicans relied upon the bloody shirt campaign    , reminding the nation of the terrible human toll of the war against southern confederates who now reappeared in national politics under the mantle of the Democratic Party. President Grant previously had great success with the “bloody shirt” strategy in the 1868 election, when Republican supporters attacked Democratic candidate Horatio Seymour for his sympathy with New York City draft rioters during the war. In 1876, true to the campaign style of the day, neither Tilden nor Hayes actively campaigned for office, instead relying upon supporters and other groups to promote their causes.

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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