Chapter Twenty-Three: Political Paralysis in the Gilded Age
“ ““ “Ohio IdeaOhio IdeaOhio IdeaOhio Idea” ”” ” At the Democratic convention, wealthy eastern Democrats wanted federal war bonds to beredeemed in gold, even though many of the bonds had been purchased with badlydepreciated paper greenbacks.Poorer Midwestern Democrats called for redemption in greenbacks, hoping to keep moremoney in circulation and thus, keep interest rates lower so that their debts could be moreeasily paid.“ ““ “Waving the Bloody Shirt Waving the Bloody Shirt Waving the Bloody Shirt Waving the Bloody Shirt” ”” ” Republicans promoted Ulysses Grant as president by “waving the bloody shirt.” In other words, reminding the voters of the Civil War and Grant’s heroic action.“Vote as You Shot” became a Republican slogan aimed at Union army veterans. isk and Gould Gold Scandalisk and Gould Gold Scandalisk and Gould Gold Scandalisk and Gould Gold ScandalIn 1869, “Jubilee Jim” isk and Jay Gould came up with a plan to corner the gold market. It would only work, however, if the federal Treasury did not buy gold. They gave Grant’sbrother-in-law $25,000 to keep quiet and also directly worked on President Grant.On “Black riday.” On September 2, they bid the price of gold skyward, driving honest businesspeople to the wall. The bubble broke only when the Treasury was compelled torelease gold.A congressional probe determined that Grant had done nothing wrong, only acting foolishly.Tweed Ring (Boss Tweed)Tweed Ring (Boss Tweed)Tweed Ring (Boss Tweed)Tweed Ring (Boss Tweed)In New York City, Boss Tweed used bribery, graft, and fraudulent elections to illegally obtain asmuch as $200 million from citizens.In 1871, the
New York Times
secured damning evidence and published it. Thomas Nast, eventhough bribed to desist, published many political cartoons about Tweed.Attorney Samuel J. Tilden headed the prosecution, which later led to his presidentialnomination.Thomas Nast Thomas Nast Thomas Nast Thomas Nast Considered to be the “ather of the American Cartoon,” his drawings were a main factor inthe downfall of Boss Tweed of Tammany Hall.He popularized the use of the elephant to represent the Republican Party and the donkey torepresent the Democrats.