Essentials of Entrepreneurship and Small Business Management 8th Edition Scarborough Test Bank

Essentials of Entrepreneurship and
Small Business Management 8th

Edition Scarborough Test Bank
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Essentials of Entrepreneurship and Small Business Management, 8e (Scarborough)
Chapter 8 Building a Powerful Bootstrap Marketing Plan
1) ________ is the process of creating and delivering desired goods and services to customers
and involves all of the activities associated with winning and retaining loyal customers.
A) Marketing
B) Personal selling
C) Promotion
D) Customer service
Answer: A
Diff: 1
AACSB: Analytical Thinking
Learning Obj: 8-1 Describe the principles of building a bootstrap marketing plan, and explain
the benefits of preparing one.
2) For an entrepreneur, a business plan ________.

A) is of relatively little importance due to the dynamic nature of the marketplace
B) is synonymous with the marketing plan
C) tends to stress how the entrepreneur will operate rather than detailing what she/he wants to
accomplish
D) contains both a marketing plan and a financial plan
Answer: D
Diff: 2
3) The focus of a small company's marketing plan should be on ________.

A) preparing accurate financial forecasts
B) the customer
C) describing how its products or services are superior to those of competitors
D) the competition
Answer: B
Diff: 1
1
Copyright © 2016 Pearson Education, Inc.
4) Small businesses can compete with larger rivals with bigger budgets by employing
unconventional, low-cost creative techniques known as ________.
A) market research
B) astonishing customer service
C) bootstrap marketing strategies
D) psychographics
Answer: C
Diff: 1
5) Warren Cassell, owner of Just Books, a very small book store, makes special orders for
customers at no extra charge, provides free gift-wrapping, conducts out-of-print book searches,
offers autographed copies of books, hosts "Meet the Author" breakfasts, and publishes a
newsletter for book lovers. By offering his customers lots of "extras" they do not get at larger
bookstores, Cassell has won a growing base of loyal customers. Cassell is relying on which
marketing strategy?
A) Demographic marketing
B) Transaction selling
C) Individualized marketing
D) Bootstrap marketing
Answer: D
Diff: 2
6) Bootstrap marketing is a marketing approach that takes an unconventional, low-cost and

creative approach to marketing that can give ________ a competitive edge over ________
competitors.
A) small companies; larger
B) larger companies; smaller
C) small companies; entrepreneurial
D) entrepreneurs; small
Answer: A
Diff: 2
2
7) Which of the following is not one of the objectives a bootstrap marketing plan should
accomplish?
A) Determine customer needs and wants through market research.
B) Determine how the company will be able to serve all customers.
C) Analyze the firm's competitive advantages and build a marketing strategy around them.
D) Create a marketing mix that meets customer needs and wants.
Answer: B
Diff: 2
8) Because they lack the size and financial resources of their larger competitors, small companies
are powerless when it comes to developing effective marketing strategies.
Answer: FALSE
Diff: 2
9) Too many marketing plans describe in great detail what an entrepreneur intends to accomplish
and pay little, if any, attention to practical and affordable strategies to achieve those targets.
Answer: TRUE
Diff: 2
AACSB: Reflective Thinking
10) The specific group of customers at whom a company aims its good or services is referred to
as a ________.
A) market segmentation
B) bootstrap marketing
C) niche marketing
D) target market
Answer: D
Diff: 3
Learning Obj: 8-2 Explain how small businesses can pinpoint their target markets.
3
11) Successful marketing requires a business owner to ________.
A) understand target customers' needs, demands, and wants
B) offer customers products and services that will satisfy their needs, demands, and wants
C) provide customers with service, convenience, and value so that they will return
D) All of the above
Answer: D
Diff: 1
12) The foundation of every business is ________.

A) its products and services
B) satisfying the customer through a customer-driven marketing strategy
C) doing whatever it takes to earn a profit
D) operating in a socially responsible manner
Answer: B
Diff: 2
13) Which of the following statements concerning a company's target market is false?
A) Marketing experts contend that the greatest marketing mistake small companies make is
failing to clearly define the target market to be served.
B) A "shotgun approach" to marketing (trying to appeal to everyone rather than to only a small
market segment) is the most effective way to compete with large companies and their bigger
marketing budgets.
C) Small companies are usually better suited to pinpointing target markets that their larger rivals
overlook or consider too small to be attractive.
D) Most successful small businesses have well-defined portraits of the customers they are trying
to attract.
Answer: B
Diff: 3
14) One of the greatest marketing mistakes small businesses make is ________.
A) failing to identify the target market
B) spending too little on advertising
C) underpricing their products and services
D) spending too little on quality improvement
Answer: A
Diff: 2
4
15) By using bootstrap marketing strategies (unconventional, low-cost, creative techniques)
small companies can get as much "bang" for their marketing bucks as their larger rivals.
Answer: TRUE
Diff: 1
AACSB: Written and Oral Communication
16) The specific group of customers at whom a company aims its goods and services is its target
market.
Answer: TRUE
Diff: 1
17) A bootstrap marketing plan should identify a small company's target customers and describe
how the business will attract and keep them.
Answer: TRUE
Diff: 1
18) A "shotgun approach" to marketing is the small business' secret to competing successfully
with larger rivals and their bigger marketing budgets.
Answer: FALSE
Diff: 2
19) An effective marketing program depends on a clear, concise definition of the firm's target
market.
Answer: TRUE
Diff: 1
20) A critical marketing step is to clearly define their target market.

Answer: TRUE
Diff: 2
21) The company's target customer should permeate the entire business, from the merchandise
purchased, in the layout and decor of the store, and on the Web site.
Answer: TRUE
Diff: 1
5
22) Why is it important for small business owners to clearly define their target market(s) as part
of their marketing strategies?
Answer: It is important that small businesses define the specific group of customers at whom the
company aims its goods or services. Many companies try a "shotgun approach" to marketing,
where the company fires marketing blasts at every customer they see, hoping to capture some of
them. Unfortunately, most small businesses do not have the deep pockets to continue this type of
marketing approach. Small businesses must be more focused on the types of customers they want
to target. Small firms are ideally suited to reaching market segments that their larger rivals
overlook or consider too small to be profitable. A clear, concise target market allows a small
business to be profitable.
Diff: 2
23) Studies of shifting patterns in age, income, education, race, and other population
characteristics are the subject of ________.
A) psychographics
B) demographics
C) sociographics
D) paleontology
Answer: B
Diff: 1
Learning Obj: 8-3 Discuss the role of market research in building a bootstrap marketing plan
and outline the market research process.
24) Tracking ________ patterns can enable entrepreneurs to adjust their strategies accordingly to
better position them to take advantage of the opportunities these trends may create.
A) population
B) demographic
C) weather
D) traffic
Answer: B
Diff: 1
Learning Obj: 8-3 Discuss the role of market research in building a bootstrap marketing plan
and outline the market research process.
6
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THE STATES AND TERRITORIES—when Admitted or
Organized—with Area and Population.
STATES. Date when Area in Population nearest
[First thirteen admitted on Admitted. square census to date of
ratifying Constitution—all miles at admission.
others admitted by Acts of time of
Congress.] admission. Population. Year.
Delaware December 7,
2,050 59,096 1790
1787
Pennsylvania December 12,
45,215 434,373 1790
1787
New Jersey December 18,
7,815 184,139 1790
1787
Georgia January 2,
59,475 82,548 1790
1788
Connecticut January 9,
4,990 237,496 1790
1788
Massachusetts February 6,
8,315 378,787 1790
1788
Maryland April 28, 1788 12,210 319,728 1790
South Carolina May 23, 1788 30,570 249,033 1790
New Hampshire June 21, 1788 9,305 141,885 1790
Virginia June 25, 1788 42,450 747,610 1790
New York July 26, 1788 49,170 340,120 1790
North Carolina November 21,
52,250 393,751 1790
1789
Rhode Island May 29, 1790 1,250 68,825 1790
Vermont March 4, 1791 9,565 85,339 1791
Kentucky June 1, 1792 40,400 73,077 1892
Tennessee June 1, 1796 42,050 77,202 1796
Ohio November 29,
41,060 41,915 1802
1802
Louisiana April 30, 1812 48,720 76,556 1812
Indiana December 11,
36,350 63,805 1816
1816
Mississippi December 10,
46,810 75,512 1817
1817
Illinois December 3,
56,650 34,620 1818
1818
Alabama December 14,
52,250 127,901 1820
1819
Maine March 15, 1820 33,040 298,269 1820
Missouri August 19, 1821 69,415 66,586 1821
Arkansas June 15, 1836 53,850 52,240 1836
Michigan January 26,
58,915 212,267 1840
1837
Florida March 3, 1845 58,680 54,477 1845
Iowa December 28,
56,025 81,920 1846
1846
Texas December 29,
265,780 212,592 1850
1845
Wisconsin May 29, 1848 56,040 305,391 1850
California September 9,
158,360 92,597 1850
1850
Minnesota May 11, 1858 83,365 172,023 1860
Oregon February 14,
96,030 52,465 1859
1859
Kansas January 29,
82,080 107,206 1860
1861
West Virginia June 19, 1863 24,780 442,014 1870
Nevada October 31,
110,700 40,000 1864
1864
Nebraska March 1, 1867 76,855 60,000 1867
Colorado August 1, 1876 103,926 150,000 1876
District of Columbia March 3, 1791 60
North Dakota July 4, 1889
149,100 135,177 1880
South Dakota July 4, 1889
Montana July 4, 1889 146,080 39,159 1880
Washington July 4, 1889 69,180 75,116
Idaho 84,800 32,610 1880
Wyoming 97,890 20,789 1880
TERRITORIES. Dates of Present
organization. area, Census
Population.
square of
miles.
Utah September 9,
82,090 143,963 1880
1850
New Mexico September 9,
122,580 119,565 1880
1850
Arizona February 24,
113,020 40,440 1880
1863
Indian 64,690
Alaska Unsurveyed
SPEAKERS OF THE HOUSE OF REPRESENTATIVES.
Name. State. Congress. Term of Service.
F. A Muhlenberg Pennsylvania 1st Congress. April 1, 1789, to March 4, 1791
Jonathan Trumbull Connecticut 2d „ Oct. 24, 1791, to March 4, 1793
F. A. Muhlenberg Pennsylvania 3d „ Dec. 2, 1793, to March 4, 1795
Jonathan Dayton New Jersey 4th „ Dec. 7, 1795, to March 4, 1797
„ „ „ 5th „ May 15, 1797, to March 3, 1799
Theodore Sedgwick Massachusetts 6th „ Dec. 2, 1799, to March 4, 1801
Nathaniel Macon North Carolina 7th „ Dec. 7, 1801, to March 4, 1803
„ „ „ 8th „ Oct. 17, 1803, to March 4, 1805
„ „ „ 9th „ Dec. 2, 1805, to March 4, 1807
Joseph B. Varnum Massachusetts 10th „ Oct. 26, 1807, to March 4, 1809
„ „ „ 11th „ May 22, 1809, to March 4, 1811
Henry Clay Kentucky 12th „ Nov. 4, 1811, to March 4, 1813
„ „ „ 13th „ May 24, 1813, to Jan. 19, 1814
Langdon Cheves S C., 2d Sess. 13th „ Jan. 19, 1814, to March 4, 1815
Henry Clay Kentucky 14th „ Dec. 4, 1815, to March 4, 1817
„ „ „ 15th „ Dec. 1, 1817, to March 4, 1819
„ „ „ 16th „ Dec. 6, 1819, to May 15, 1820
John W. Taylor New York, 2d Sess. 16th „ Nov. 15, 1820, to March 4, 1821
Philip P. Barbour Virginia 17th „ Dec. 4, 1821, to March 4, 1823
Henry Clay Kentucky 18th „ Dec. 1, 1823, to March 4, 1825
John W. Taylor New York 19th „ Dec. 5, 1825, to March 4, 1827
Andrew Stephenson Virginia 20th „ Dec. 3, 1827, to March 4, 1829
„ „ „ 21st „ Dec. 7, 1829, to March 4, 1831
„ „ „ 22d „ Dec. 5, 1831, to March 4, 1833
„ „ „ 23d „ Dec. 2, 1833, to June 2, 1834
John Bell Tennessee, 2d Sess. 23d „ June 2, 1834, to March 4, 1835
James K. Polk „ „ 24th „ Dec. 7, 1835, to March 4, 1837
„ „ „ „ 25th „ Sept. 5, 1837, to March 4, 1839
Robert M. T. Hunter Virginia 26th „ Dec. 16, 1839, to March 4, 1841
John White Kentucky 27th „ May 31, 1841, to March 4, 1843
John W. Jones Virginia 28th „ Dec. 4, 1843, to March 4, 1845
John W. Davis Indiana 29th „ Dec. 1, 1845, to March 4, 1847
Robert C. Winthrop Massachusetts 30th „ Dec. 6, 1847, to March 4, 1849
Howell Cobb Georgia 31st „ Dec. 22, 1849, to March 4, 1851
Linn Boyd Kentucky 32d „ Dec. 1, 1851, to March 4, 1853
„ „ „ 33d „ Dec. 5, 1853, to March 4, 1855
Nathaniel P. Banks Massachusetts 34th „ Feb. 2, 1856, to March 4, 1857
James L. Orr South Carolina 35th „ Dec. 7, 1857, to March 4, 1859
William Pennington New Jersey 36th „ Feb. 1, 1860, to March 4, 1861
Galusha A. Grow Pennsylvania 37th „ July 4, 1861, to March 4, 1863
Schuyler Colfax Indiana 38th „ Dec. 7, 1863, to March 4, 1865
„ „ „ 39th „ Dec. 4, 1865, to March 4, 1867
„ „ „ 40th „ March 4, 1867, to March 4, 1869
James G. Blaine Maine 41st „ March 4, 1869, to March 4, 1871
„ „ „ 42d „ March 4, 1871, to March 4, 1873
„ „ „ 43d „ Dec. 1, 1873, to March 4, 1875
Michael C. Kerr Indiana 44th „ Dec. 6, 1875, to Aug. 20, 1876
Samuel J. Randall Penna., 2d Sess. 44th „ Dec. 4, 1876, to March 4, 1877
„ „ „ „ 45th „ Oct. 15, 1877, to March 4, 1879
„ „ „ „ 46th „ March 18, 1879, to March 4, 1881
Warren B. Keifer Ohio 47th „ Dec. 5, 1881, to March 4, 1883
John G. Carlisle Kentucky 48th „ Dec. 3, 1883, to March 4, 1885
„ „ „ 49th „ Dec. 7, 1885, to March 4, 1887
„ „ „ 50th „ Dec. 5, 1888, to March 4, 1889
Thomas B. Reed Maine 51st „ Dec. 2, 1889, to March 4, 1891
Table, exhibiting, by States, the Aggregate Troops
called for by the President, and furnished to the
Union Army, from April 15th, 1861, to close of War of
Rebellion
Aggregate Aggregate
States and
Quota Men Paid Total reduced to a 3
Territories
furnished commutation years’ standard
Maine 73,587 70,107 2,007 72,114 56,776
New Hampshire 35,897 33,937 692 34,629 30,849
Vermont 32,074 33,288 1,974 35,262 29,068
Massachusetts 139,095 146,730 5,318 152,048 124,104
Rhode Island 18,898 23,236 463 23,699 17,866
Connecticut 44,797 55,864 1,515 57,379 50,623
New York 507,148 448,850 18,197 467,047 392,270
New Jersey 92,820 76,814 4,196 81,010 57,908
Pennsylvania 385,369 337,936 28,171 366,107 265,517
Delaware 13,935 12,284 1,386 13,670 10,322
Maryland 70,965 46,638 3,678 50,316 41,275
West Virginia 34,463 32,068 32,068 27,714
District of 13,973 16,534 338 16,872
11,506
Columbia
Ohio 306,322 313,180 6,479 319,659 240,514
Indiana 199,788 196,363 784 197,147 153,576
Illinois 244,496 259,092 55 259,147 214,133
Michigan 95,007 87,364 2,008 89,372 80,111
Wisconsin 109,080 91,327 5,097 96,424 79,260
Minnesota 26,326 24,020 1,032 25,052 10,693
Iowa 79,521 76,242 67 76,309 68,630
Missouri 122,496 109,111 109,111 86,530
Kentucky 100,782 75,760 3,265 79,025 70,832
Kansas 12,931 20,149 2 20,151 18,706
Tennessee 1,560 31,092 31,092 26,394
Arkansas 780 8,289 8,289 7,835
North Carolina 1,500 3,156 3,156 3,156
California 15,725 15,725 15,725
Nevada 1,080 1,080 1,080
Oregon 1,810 1,810 1,773
Washington 964 964 964
Nebraska 3,157 3,157
2,175
Territory
Colorado 4,903 4,903
3,697
Territory
Dakota 206 205 206
New Mexico 6,561 6,561
4,432
Territory
Alabama 2,576 2,576 1,611
Florida 1,290 1,290 1,290
Louisiana 5,224 5,224 4,634
Mississippi 545 545 545
Texas 1,965 1,965 1,632
Indian Nation 3,530 3,530 3,530
Colored 93,441 93,441 91,789
Troops[121]
Total 2,763,670 2,772,408 86,724 2,859,132 2,320,272
STATEMENT SHOWING THE EXPENDITURES,
As far as ascertained, necessarily growing out of the War of the Rebellion, from
July 1, 1861, to June 30, 1870, inclusive.
APPROPRIATION. Expenditure Expenditure
Gross other than growing out
Expenditure. for the war. of the war.
Expenses of national loans and currency $51,522,730 77 $51,522,730 77
Premiums 59,738,167 73 59,738,167 73
Interest on public debt 1,809,301,485 $45,045,286 1,764,256,198
19 74 45
Expenses of collecting revenue from
customs 99,690,808 31 57,151,550 44 42,539,257 87
Judgment of Court of Claims 5,516,260 75 551,626 07 4,964,634 68
Payments of judgments Court of Alabama
Claims 9,315,753 19 9,315,753 19
Salaries and expenses of Southern Claims
Commission 371,321 82 371,321 82
Salaries and expenses of American and
British Claims Commission 295,878 54 295,878 54
Award to British claimants 1,929,819 00 1,929,819 00
Tribunal of arbitration at Geneva 244,815 40 244,815 40
Salaries and expenses of Alabama Claims
Commission 253,231 12 253,231 12
Salaries and contingent expenses of
Pension Office 7,095,968 05 1,870,180 00 5,225,788 05
Salaries and contingent expenses of War
Department 15,381,956 58 2,712,693 79 12,619,262 79
Salaries and contingent expenses of
Executive Departm’nt (exclusive of
Pension office and War Department) 33,944,017 67 10,110,745 70 23,833,271 97
Expenses of assessing and collecting
internal revenue 112,803,841 31 112,803,841 31
Miscellaneous accounts 2,664,199 82 456,714 21 2,207,485 61
Subsistence of the Army 420,041,037
75 38,623,489 17 381,417,548 58
Quartermaster’s Department 357,518,966 61 58,037,048 95 299,481,917 63
Incidental expenses of Quartermaster’s
Department 101,528,573 37 16,185,839 74 85,342,733 63
Transportation of the Army 407,463,324
81 70,669,439 25 336,793,885 56
Transportation of officers and their
baggage 4,626,219 66 1,601,000 00 3,025,219 66
Clothing of the Army 345,543,880
356,651,466 31 11,107,586 11 20
Purchase of horses for cavalry and 130,990,762
artillery 95 4,318,339 51 126,672,423 24
Barracks, quarters, etc. 49,872,669 40 18,801,822 89 31,070,846 59
Heating and cooking stoves 487,881 45 39,150 00 448,731 45
Pay, mileage, general expenses, etc., of the 106,388,991
Army 184,473,721 26 79 78,084,729 47
Pay of two and three years’ volunteers 1,041,102,702 1,041,102,702
58 58
Pay of three months’ volunteers 886,305 41 886,305 41
Pay, etc., of one hundred days’ volunteers 14,386,778 29 14,386,778 29
Pay of militia and volunteers 6,126,952 65 6,126,952 65
Pay, etc., to officers and men in the
Department of the Missouri 844,150 55 844,150 55
Pay and supplies of one hundred days’
volunteers 4,824,877 68 4,824,877 68
Bounty to volunteers and regulars on
enlistment 38,522,046 20 38,522,046 20
Bounty to volunteers and their widows
and legal heirs 31,760,345 95 31,760,345 95
Additional bounty act of July 28, 1866 69,998,786 71 69,998,786 61
Collect’n and payment of bounty, etc., to
color’d soldiers, etc. $268,158 11 $268,158 11
Reimbursing States for moneys expended
for payment of military service of the
United States 9,635,512 85 9,635,512 85
Defraying expenses of minute-men and
volunteers in Pennsylvania, Maryland,
Ohio, Indiana and Kentucky 597,178 30 597,178 30
Refunding to States expenses incurred on
account of volunteers 31,297,242 60 31,297,242 60
Reimbursements to Baltimore for aid in
construction of defensive works in 1863 96,152 00 96,152 00
Payment to members of certain military
organizations in Kansas 296,097 28 296,097 28
Expenses of recruiting 2,568,639 91 1,270,673 56 1,297,966 35
Draft and substitute fund 9,713,873 13 9,713,873 13
Medical and Hospital Department 46,954,146 83 1,845,376 47 45,108,770 36
Medical and Surgical History and
Statistics 196,048 32 196,048 32
Medical Museum and Library 55,000 00 55,000 00
Providing for comfort of sick, wounded
and discharged soldiers 2,232,785 12 2,232,785 12
Freedmen’s Hospital and Asylum 123,487 49 123,487 49
Artificial limbs and appliances 509,283 21 509,283 21
Ordnance service 6,114,533 38 1,561,001 67 4,553,531 71
Ordnance, ordnance stores and supplies 59,798,079 70 3,834,146 87 55,933,932 83
Armament of fortifications 12,336,710 88 2,118,238 79 10,218,472 09
National armories, arsenals, &c. 29,730,717 53 $6,127,228 21 23,603,489 32
Purchase of arms for volunteers and
regulars 76,378,935 13 76,378,935 13
Traveling expenses First Michigan Cavalry
and California and Nevada Volunteers 84,131 50 84,131 50
Payment of expenses under reconstruction
acts 3,128,905 94 3,128,905 94
Secret Service 681,587 42 681,587 42
Books of tactics 172,568 15 172,568 15
Medals of Honor 29,890 00 29,890 00
Support of National Home for disabled 8,546,184 76 8,546,184 76
volunteer soldiers
Publication of official records of war of the
rebellion 170,998 98 170,998 98
Contingencies of the Army and Adjutant
General’s Department 3,291,835 14 565,136 39 2,726,698 75
Payments under special acts of relief 1,088,406 83 1,088,406 83
Copying official reports 5,000 00 5,000 00
Expenses of court of inquiry in 1858 and
1869 5,000 00 5,000 00
United States police for Baltimore 100,000 00 100,000 00
Preparing register of volunteers 1,015 45 1,015 45
Army pensions 437,744,192 30,315,000
80 00 407,429,192 80
Telegraph for military purposes 2,500,085 80 2,500,085 80
Maintenance of gunboat fleet proper 5,244,684 32 5,244,684 32
Keeping, transporting, and supplying
prisoners of war 7,659,411 60 7,659,411 60
Permanent forts and fortifications;
surveys for military defenses;
contingencies of fortifications; platform
for cannon of large calibre, &c., from
1862 to 1868 20,887,756 96 7,483,765 87 13,4O3,991 09
Construction and maintenance of steam
rams 1,370,730 42 1,370,730 42
Signal service 222,269 79 78,472 23 143,797 56
Gunboats on the Western rivers 3,239,314 18 3,239,314 18
Supplying, transporting, and delivering
arms and munitions of war to loyal
citizens in States in rebellion against the
Government of the United States 1,649,596 57 1,649,596 57
Collecting, organizing, and drilling
volunteers 29,091,666 57 29,091,666 57
Bridge-trains and equipage 1,413,701 75 1,413,701 75
Tool and siege trains 702,250 00 702,250 00
Completing the defenses of Washington 912,283 01 912,283 01
Commutation of rations to prisoners of
war in rebel States 320,636 62 320,636 62
National cemeteries 4,162,848 39 4,162,848 39
Purchase of Ford’s Theatre 88,000 00 88,000 00
Temporary relief to destitute people in
District of Columbia 57,000 00 57,000 00
Headstones, erection of headstones, pay of
superintendents, and removing the
remains of officers to national
cemeteries 1,080,185 54 1,080,185 54
State of Tennessee for keeping and
maintaining United States military
prisoners 22,749 49 22,749 49
Capture of Jeff. Davis 97,031 62 97,031 62
Removing wreck of gunboat Oregon in
Chefunct River, Louisiana 5,500 00 5,500 00
Support of Bureau of Refugees and
Freedmen 11,454,237 30 11,454,237 30
Claims for quartermaster’s stores and
commissary supplies 850,220 91 850,220 91
Miscellaneous claims audited by Third
Auditor 94,223 11 47,112 11 47,111 00
Claims of loyal citizens for supplies
furnished during the rebellion 4,170,304 54 4,170,304 54
Payment for use of Corcoran Art Gallery 125,000 00 125,000 00
Expenses of sales of stores and material 5,842 43 5,842 43
Transportation of insane volunteer
soldiers 1,000 00 1,000 00
Horses and other property lost in military
service 4,281,724 91 4,281,724 91
Purchase of cemetery grounds near
Columbus, Ohio 500 00 500 00
Fortifications on the Northern Frontier 683,748 12 683,748 12
Pay of the Navy 144,549,073
96 70,086,769 62 74,462,304 34
Provisions of the Navy 32,771,931 16 16,403,307 34 16,368,623 82
Clothing of the Navy 2,709,491 98 1,114,701 00 1,594,790 98
Construction and repair 35,829,684
170,007,781 25 80 134,178,096 65
Equipment of vessels $25,174,614 53 $25,174,614 53
Ordnance 38,063,357 67 $6,641,263 30 31,422,094 37
Surgeons’ necessaries 2,178,769 74 241,025 68 1,937,744 06
Yards and docks 33,638,156 59 3,337,854 52 30,300,302 07
Fuel for the Navy 19,952,754 36 8,612,521 68 11,340,232 68
Hemp for the Navy 2,836,916 69 1,938,664 42 898,252 27
Steam machinery 49,297,318 57 49,297,318 57
Navigation 2,526,247 00 2,526,247 00
Naval hospitals 875,452 34 375,789 40 499,662 94
Magazines 753,822 13 349,290 48 404,531 65
Marine corps, pay, clothing, &c. 16,726,906 00 8,969,290 82 7,757,615 18
Naval Academy 2,640,440 87 778,308 86 1,862,132 01
Naval Asylum, Philadelphia 652,049 89 65,394 00 586,655 89
Temporary increase of the Navy 8,123,766 21 8,123,766 21
Miscellaneous appropriations 2,614,044 77 2,614,044 77
Naval pensions 7,540,043 00 950,000 00 6,590,043 00
Bounties to seamen 2,821,530 10 2,821,530 10
Bounty for destruction of enemy’s vessels 271,309 28 271,309 28
Indemnity for lost clothing 389,025 33 389,025 33
Total expenditures $6,844,571,431 $654,641,522 $6,189,929,908
03 45 58
Note.—Only the appropriations from which war expenditures were made are included in the
above.
NATIONAL DEBTS, EXPENDITURE AND
COMMERCE, PER CAPITA.
Country. Annual
Debt per expenditure per Annual imports Annual exports
head. head. per head. per head.
Argentine
Republic $39.07 $12.04 $20.31 $25.66
Austria-
Hungary 5.73 1.63 7.19 5.70
Austria
proper 65.26 9.29
Hungary
proper 17.68 7.53
Belgium 48.08 10.13 53.41 46.06
Bolivia 10.04 2.58 3.30 2.08
Brazil 36.43 6.70 8.71 10.31
Canada 31.16 6.69 25.87 24.94
Chili 24.49 10.66 18.21 17.95
Colombia 5.22 .94 2.35 3.38
Denmark 27.19 6.83 26.31 17.95
Ecuador 20.20 24.36 8.77 4.51
Egypt 85.82 10.42 5.52 12.94
France 127.23 14.07 24.17 26.05
German
Empire .70 3.15 21.54 14.21
Prussia 10.55 6.33
Great Britain
and Ireland 114.62 12.35 59.11 40.59
Greece 27.50 5.35 16.49 10.30
India, British 3.01 1.42 .93 1.48
Italy 71.94 10.12 9.67 8.85
Mexico 42.63 2.68 3.13 3.41
Netherlands 101.21 11.37 71.27 67.70
Norway 7.48 5.91 28.77 18.77
Paraguay 54.72 3.39 2.55 2.74
Peru 79.82 12.62 14.02
Portugal 96.84 6.70 8.60 5.97
Roumania 11.82 3.85 3.19 5.60
Russia 26.33 4.83 4.22 3.23
Servia 3.61 1.43 4.58 4.06
Spain 142.71 7.83 3.96 4.48
Sweden 8.86 4.93 19.39 14.11
Switzerland 2.25 3.08
Turkey 31.70 4.38 2.23 1.59
United States 52.56 6.13 12.64 15.40
Uruguay 98.00 15.28 40.25 38.09
Venezuela 35.11 2.04 6.72 9.52
STATEMENT
Average Values of Gold in United States Paper Currency in the New York
Market from the Suspension to the Resumption of Specie Payments, during the
period of Seventeen Years, from 1862 to 1878, both inclusive—Prepared for the
U. S. Treasury Department by E. B. Elliott.
Currency Value of Gold.
Table showing the Average Value in Currency of One Hundred Dollars in Gold
in the New York Market, by Months, Quarter-years, Half-years, Calendar
Years, and Fiscal Years, from January 1, 1862, to December 31, 1878, both
inclusive.
PERIODS. 1862. 1863. 1864. 1865. 1866. 1867. 1868. 1869.
January 102.5 145.1 155.5 216.2 140.1 134.6 138.5 135.6
February 103.5 160.5 158.6 205.5 138.4 137.4 141.4 134.4
March 101.8 154.5 162.9 173.8 130.5 135. 139.5 131.3
April 101.5 151.5 172.7 148.5 127.3 135.6 138.7 132.9
May 103.3 148.9 176.3 135.6 131.8 137. 139.6 139.2
June 106.5 144.5 210.7 140.1 148.7 137.5 140.1 138.1
July 115.5 130.6 258.1 142.1 151.6 139.4 142.7 136.1
August 114.5 125.8 254.1 143.5 148.7 109.8 145.5 134.2
September 118.5 134.2 222.5 143.9 145.5 143.4 143.6 136.8
October 128.5 147.7 207.2 145.5 148.3 143.5 137.1 130.2
November 131.1 148. 233.5 147. 143.8 139.6 134.4 126.2
December 132.3 151.1 227.5 146.2 136.7 134.8 135.2 121.5
First quarter-year 102.6 153.4 159. 198.5 136.3 135.7 139.8 133.8
Second quarter-year 103.8 148.3 186.6 141.4 135.9 136.7 139.5 136.7
Third quarter-year 116.2 130.2 244.9 143.2 148.6 141.2 143.9 135.7
Fourth quarter-year 130.6 148.9 222.7 146.2 142.9 139.3 135.6 126.
First half-year 103.2 150.8 172.8 169.9 136.1 136.2 139.6 135.3
Second half-year 123.4 139.6 233.8 144.7 145.8 140.3 139.8 130.8
Calendar year 113.3 145.2 203.3 157.3 140.9 138.2 139.7 133.
Fiscal year ended June
30 137.1 156.2 201.9 140.4 141. 139.9 137.5
PERIODS. 1870. 1871. 1872. 1873. 1874. 1875. 1876. 1877. 1878.
January 121.3 110.7 109.1 112.7 111.4 112.5 112.8 106.3 102.1
February 119.5 111.5 110.3 114.1 112.3 114.5 113.4 105.4 102.
March 112.6 111. 110.1 115.5 112.1 115.5 114.3 104.8 101.2
April 113.1 110.6 111.1 117.8 113.4 114.8 113. 106.2 100.6
May 114.7 111.5 113.7 117.7 112.4 115.8 112.6 106.9 100.7
June 112.9 112.4 113.9 116.5 111.3 117. 112.5 105.4 100.8
July 116.8 112.4 114.3 115.7 110. 114.8 111.9 105.4 100.5
August 117.9 112.4 114.4 115.4 109.7 113.5 111.2 105. 100.6
September 114.8 114.5 113.5 112.7 109.7 115.8 110. 103.3 100.4
October 112.8 113.2 113.2 108.9 110. 116.4 109.7 102.8 100.6
November 111.4 111.2 112.9 108.6 110.9 114.7 109.1 102.8 100.2
December 110.7 109.3 112.2 110. 111.7 113.9 109.8 102.8 100.1
First quarter-year 117.8 111.1 109.8 114.1 111.9 114.2 113.5 105.5 101.7
Second quarter-year 113.6 111.5 112.9 117.3 112.4 115.9 112.7 106.2 100.7
Third quarter-year 116.5 113.1 114.1 114.6 109.8 114.7 111. 104.6 101.5
Fourth quarter-year 111.6 111.2 112.8 109.2 110.9 115. 108.9 102.8 101.3
First half-year 115.7 111.3 111.4 115.7 112.2 115.1 113.1 105.9 101.2
Second half-year 114. 121.1 113.4 111.9 110.3 114.8 109.9 103.7 100.4
Calendar year 114.9 111.7 112.4 113.8 111.2 114.9 111.5 104.8 100.8
Fiscal year ended
June 30 123.3 112.7 111.8 114.6 112. 112.7 113.9 107.9 102.8
CHRONOLOGICAL POLITICS.
1765.—March 8.—Parliament passes the Stamp Act. Oct. 7.—Colonial

Congress met at New York.
1766.—Stamp Act repealed, Mar. 18.
1767.—June 29.—Bill passed taxing tea, glass, paper, etc., in the American
colonies.
1768.—Massachusetts assembly petition the King against the late tax.
1773.—The inhabitants of Boston throw 342 chests of the taxed tea into the
sea.
1774.—Mar. 31.—The Boston Port Bill passed by Parliament. Sept. 5.—The
first Continental Congress meets at Philadelphia.
1775.—April 19.—The war for American Independence commences with the
Battle of Lexington.
1776.—July 4.—America is declared “Free, sovereign, and independent”—a
declaration which is signed by the following States: New Hampshire,
Massachusetts, Rhode Island, Connecticut, Delaware, Maryland, Virginia, North
Carolina, South Carolina, New York, New Jersey, Pennsylvania, and Georgia.
1777.—Dec. 16.—France acknowledges the independence of the United States.
1778.—Feb. 6.—Treaties of Amity and Commerce adopted between the United
States and France.
1781.—Feb.—Articles of Confederation ratified by the States.
1782.—Oct. 8.—Independence of United States acknowledged by Holland.
Nov. 3.—Temporary Treaty of Peace signed at Paris.
1783.—Sept. 3.—Treaty of Peace signed at Paris. Nov. 3.—American army
disbanded. Nov. 25.—New York evacuated by the British. Dec. 19.—Charleston
evacuated by British. Dec. 23.—Washington resigns his commission to Congress.
1785.—June 1.—John Adams, first minister from U. S. to London.
1786.—Nov.—Shay’s insurrection broke out in Massachusetts.
1787.—Sept. 17.—Constitution of the United States adopted by all the States,
except Rhode Island.
1788.—Cotton planted in Georgia.
1789.—First Congress. Ten Amendments to the Constitution passed.
Departments of Government organized. Washington appoints a National
Thanksgiving. April 14.—George Washington declared the first President of the
United States. Ratio of Representatives, 30,000; Members of Congress 65.
1789.—Many Treaties with the Indians. Hamilton recommends the first
Tariff; passed and approved.
1790.—The territory south of the Ohio river ceded to the United States.
Naturalization Law passed. Treason defined and penalty determined. First
Census, 3,929,326. System of Finance adopted; Government assumes State
Debts; Public Debt funded; Seat of government removed from New York to
Philadelphia.
1791.—First United States bank established at Philadelphia; Capital,
$10,000,000. First Tax on Distilled Spirits.
1792.—U. S. Mint established. Apportionment Bill passed, fixing ratio of
Representation at, 33,000; 103 members in Congress. Uniform system of Militia
established. Post Office department organized anew.
1793.—Washington again inaugurated President. Neutrality declared in
regard to France. First Fugitive Slave Law passed. French Minister Gernet
recalled by request of Government; returns to organize Democratic or Jacobin
Societies.
1794.—Commercial Treaty concluded with Great Britain. The Whiskey
Insurrection in Pennsylvania. Regulation of Slave Trade by law. A sixty days
Embargo as a retaliation on British “Order in Council.”
1795.—Second Naturalization Law passed. Jay’s Commercial Treaty with
Great Britain. Treaty of Madrid. Disagreement of the United States with Algeria.
1796.—Washington’s Farewell Address. Contest between the President and
House over the British Treaty. John Adams elected President.
1797.—Congress declares the treaties with France annulled. Privateering
against friendly nations forbidden.
1798.—Congress passes an Act for raising a regular army. Washington
appointed Lieutenant-General and Commander-in-Chief. Congress authorizes
Naval Warfare with France; Commercial Intercourse with France suspended;
Navy Department organized.
1799.—Congress votes to raise an army of 40,000 men. American Navy
consists of 42 vessels with 950 guns. Pennsylvania seat of government removed
to Lancaster. Washington dies at Mount Vernon, Va.
1800.—Treaty of Peace with France. General Law of Bankruptcy approved.
Second official census—population 5,308,483. Removal of the Capitol from
Philadelphia to Washington. Election of Thomas Jefferson President.
1801.—War against Tripoli declared. The Republican party under Thomas
Jefferson, comes into power with Jefferson President.
1802.—Louisiana ceded to France by Spain. Naturalization Laws made more
liberal. Representatives, 141.
1803.—Louisiana purchased of France for $15,000,000. Congress gives the
President extraordinary authority to maintain Free Navigation of the
Mississippi. A brief war with the Barbary States.
1804.—Re-election of Jefferson as a Republican. Treaty of Peace concluded
with Tripoli.
1805.—Troubles with Great Britain begin.
1806.—Congress provides the importation of certain goods. Disputes with
England and France respecting Neutral Rights. England plainly claims the right
to search American vessels for deserting seamen; Jefferson disputes it.
1807.—Congress lays an embargo. United States Coast Survey authorized.
Conspiracy of Aaron Burr to divide the Union. English ships of war ordered to
leave American waters. The first boat goes by steam.
1808.—The Slave Trade abolished by act of Congress. Madison elected
President as a Republican.
1809.—Proclamation forbidding all intercourse with Great Britain and
France. Embargo repealed. Madison inaugurated.
1810.—Third official census.
1811.—Population of United States 7,239,903. Ratio of Representation fixed
at 35,000. Continued troubles with England. War with Tecumseh.
1812.—Congress lays an embargo on American shipping. General Land Office
established. More than 6,000 cases of impressment recorded. War declared on
the 18th of June against Great Britain. Madison re-elected President, as a
Republican.
1813.—Congress authorizes an issue of $5,000,000 and a loan of
$16,000,000. Entire American coast blockaded by British ships. Several battles
on land and sea.
1814.—Treaty of peace between the United States and England signed at
Ghent. A loan of $25,000,000 authorized.
1815.—A loan of $18,400,000 and an issue of $25,000,000 authorized.
Government ratifies Treaty of Ghent, and President proclaims peace 18th Feb.
Government ceases to pay tribute to Algiers. Battle of New Orleans. Peace
followed, though treaty of peace preceded the battle.
1816.—First high Protective Tariff enacted. Second United States Bank
chartered for twenty years; Capital, $35,000,000. Monroe elected President as
Republican or Democrat.
1817.—Internal Taxes abolished. DeWitt Clinton causes the Erie canal to be
commenced. The Era of Peace. United States Bank opened at Philadelphia.
Commencement of the Seminole war.
1818.—Pension Law enacted. National Flag re-arranged, so that the Stripes
represent the Original Thirteen Colonies and the Stars the present number of
States. Treaty of Commerce and Boundary with England. Seminole war in
Florida and Georgia.
1819.—Congress ratifies the Treaty for the Cession of Florida. Beginning of
the discussion between the North and South in regard to the Slavery Question.
The “Savannah”—the first steamer from New York to Liverpool.
1820.—Missouri Compromise passed. Navigation Act restricting importation
to United States vessels. Country agitated over the Slavery question. Fourth
official census, 9,633,822.
1822.—Florida made a territory. Ratio of Representation fixed at 40,000;
Members, 213. Commercial treaty with France. Federal party disbands.
Clintonian Democratic party organized in New York.
1823.—Independence of South American Republics acknowledged. Treaty
with Great Britain for mutual suppression of the Slave Traffic. The “Monroe
Doctrine” advanced. Party politics quiet.
1824.—John Quincy Adams, Whig, elected by the House. Second high
Protective Tariff.
1825.—Panama Mission discussed. John Quincy Adams inaugurated.
1826.—Extensive Internal Improvements under the leadership of Clay. The
Fiftieth Anniversary of American Independence. Death of Adams and Jefferson.
Webster delivers his celebrated eulogy on them.
1827.—Experimenting on the construction of a railroad.
1828.—Tariff amended and Duties increased. Jackson elected President.
1829.—Webster’s great speech against Nullification. Treaty of Amity and
Commerce with Brazil. Jackson inaugurated. “To the victor belongs the spoils.”
1830.—Treaty with Turkey, securing for the United States freedom of the
Black Sea. Treaty between the United States and Ottoman Porte. Fifth official
census: population 12,866,020.
1831.—Building railroads actively.
1832.—Treaty of Commerce with Russia. Treaty of Commerce and Boundary
with Mexico. Bill for re-chartering United States Bank vetoed by President
Jackson. His proclamation against Nullifiers. Resignation of John C. Calhoun.
Black Hawk War commences. South Carolina declares the doctrine of
nullification. Representatives 240.
1833.—Andrew Jackson commences his second administration. Gen. Santa
Anna elected President of Mexico. Public deposits removed from the United
States Bank by the President, and distributed among certain State banks.
Secretary of Treasury, W. P. Duane, refusing to carry out the policy, is removed.
Lucifer, or Locofoco matches introduced, and the Democrats called “Locofocos.”
1834.—President Jackson censured by Congress for removing Government
deposits.—France and Portugal, slow in paying for injuries done United States
commerce, are brought to terms by the President.
1835.—War with Seminoles.
1836.—Office of Commissioner of Patents created. Treaty of Friendship and
Commerce with Venezuela. Charter for United States Bank expires. Not
renewed. Financial trouble brewing. Martin VanBuren, Democrat, elected
President.
1837.—The Independence of Texas acknowledged. Issue of $10,000,000
Treasury notes authorized. President refuses to remit the regulation regarding
the “Specie Circular.” Financial panic follows, banks suspend Specie Payments in
March, and resume in July. VanBuren inaugurated.
1838.—National debt paid—surplus revenue divided among the States.
President enjoins neutrality during Canadian Rebellion.
1839.—United States Bank suspends payment. Disturbances on the
Northeastern boundaries of Maine.
1840.—Sub-Treasury bill passed. Sixth official census; population 17,069,453.
Gen’l Harrison, Whig, elected President. “Tippecanoe and Tyler too” campaign.
1826.—Extensive Internal Improvements under the leadership of Clay. The
Fiftieth Anniversary of American Independence. Death of Adams and Jefferson.
Webster delivers his celebrated eulogy on them.
1827.—Experimenting on the construction of a railroad.
1828.—Tariff amended and Duties increased. Jackson elected President.
1829.—Webster’s great speech against Nullification. Treaty of Amity and
Commerce with Brazil. Jackson inaugurated. “To the victor belongs the spoils.”
1830.—Treaty with Turkey, securing for the United States freedom of the
Black Sea. Treaty between the United States and Ottoman Porte. Fifth official
census: population 12,866,020.
1831.—Building railroads actively.
1832.—Treaty of Commerce with Russia. Treaty of Commerce and Boundary
with Mexico. Bill for re-chartering United States Bank vetoed by President
Jackson. His proclamation against Nullifiers. Resignation of John C. Calhoun.
Black Hawk War commences. South Carolina declares the doctrine of
nullification. Representatives 240.
1833.—Andrew Jackson commences his second administration. Gen. Santa
Anna elected President of Mexico. Public deposits removed from the United
States Bank by the President, and distributed among certain State banks.
Secretary of Treasury, W. P. Duane, refusing to carry out the policy, is removed.
Lucifer, or Locofoco matches introduced, and the Democrats called “Locofocos.”
1834.—President Jackson censured by Congress for removing Government
deposits.—France and Portugal, slow in paying for injuries done United States
commerce, are brought to terms by the President.
1835.—War with Seminoles.
1836.—Office of Commissioner of Patents created. Treaty of Friendship and
Commerce with Venezuela. Charter for United States Bank expires. Not
renewed. Financial trouble brewing. Martin VanBuren, Democrat, elected
President.
1837.—The Independence of Texas acknowledged. Issue of $10,000,000
Treasury notes authorized. President refuses to remit the regulation regarding
the “Specie Circular.” Financial panic follows, banks suspend Specie Payments in
March, and resume in July. VanBuren inaugurated.
1838.—National debt paid—surplus revenue divided among the States.
President enjoins neutrality during Canadian Rebellion.
1839.—United States Bank suspends payment. Disturbances on the
Northeastern boundaries of Maine.
1840.—Sub-Treasury bill passed. Sixth official census; population 17,069,453.
Gen’l Harrison, Whig, elected President. “Tippecanoe and Tyler too” campaign.
1841.—Congress meets in extra session. Imprisonment for debts due the
United States abolished. Central Bankrupt Law passed. A loan of $12,000,000
authorized. Sub-Treasury Act repealed. Revenues received from public lands
ordered to be distributed among the States. Two bills for re-chartering the
United States Bank vetoed. All members of the Cabinet, except Mr. Webster,
resign. Failure of United States Bank under Pennsylvania charter. Harrison dies;
Tyler succeeds him.
1842.—The Dover Insurrection in Rhode Island. The Seminole war
terminated. Treaty with England settling NorthEastern boundary question.
Senate ratifies the Ashburton-Webster Treaty. Ratio of representation fixed at
70,680; Representatives 223. United States fiscal year ordered to begin with
July 1st.
1843.—$30,000 appropriated for the construction of Morse’s Electric
Telegraph between Washington and Baltimore.
1844.—First message by the electric telegraph. James K. Polk, Democrat,
elected President.
1845.—Anti-rent riots in New York. The first Tuesday after the first Monday
in November on which to hold Presidential elections. Treaty made with China.
Speech of Mr. Cass on NorthWestern boundary of Oregon. Annexation of Texas,
and war with Mexico.
1846.—Hostilities commence with Mexico. New Mexico annexed to the
United States, 10,000,000 voted; and 50,000 men called out, to carry on the
war. The Wilmot Proviso, Tariff on Imports reduced. Treaty settling
Northwestern boundary. Congress declared the war “existed by act of Mexico.”
1847.—The city of Mexico taken by Americans under General Scott. War rages
with Mexico.
1848.—Congress ratifies Treaty of Guadalupe Hidalgo. Postal Treaty with
England negotiated; concluded in 1849. Peace with Mexico declared, July 4th.
Zachary Taylor, Whig, elected President. Upper California ceded to United
States. First deposit of California gold in the mint.
1849.—The French Embassador dismissed from Washington. Taylor
inaugurated, dies; Fillmore succeeds him.
1850.—The Fugitive Slave Act passed. Texas boundary settled by payment of
$10,000,000 to Texas. New Mexico and Utah admitted as territories. Slave trade
abolished in the District of Columbia. Webster’s great speech on the Union
delivered in reply to Hayne. Treaty of Amity and Commerce with Switzerland.
Treaty with England securing a transit over Panama. Seventh census; population
23,191,876.
1851.—Southern Rights Convention at South Carolina. A Cheap Postage Law
enacted. Kossuth visits United States.
1852.—Ratio of Representation fixed at 93,423; members, 237. Dispute with
England in regard to fisheries. Henry Clay and Daniel Webster died this year.
Franklin Pierce, Democrat, elected President.
1853.—Pierce inaugurated. A partisan inaugural address.
1854.—Congress passes the Kansas-Nebraska bill. United States Neutral on
the Eastern Question.
1854.—Treaty of Reciprocity with England. Commercial Treaty with Japan
concluded through Commodore Perry. American party formed.
1855.—The Court of Claims established. Election troubles in Kansas. U. S.
steamer “Waterwitch” fired on, on the Paraguay. Passmore Williamson released
from three months imprisonment in the Wheeler Slave Case.
1856.—Quebec made the seat of Canadian government, P. W. Geary
confirmed as Governor of Kansas. Extra session of Congress adjourns. 133
ballots required to elect Nathaniel P. Banks Speaker of the House. Mr. Brooks of
S. C., assaults Senator Summer in the Senate Chamber. British envoy ordered to
leave Washington. Great excitement in Congress on the Slavery question and
over the admission of Kansas and Nebraska. Republican party formed. James
Buchanan, Democrat, elected President.
1857.—A great Financial Panic; 5,123 Commercial Failures. Buchanan
inaugurated; pays 8 and 10 per cent. for loans. The Dred Scott Decision
delivered by Chief Justice Taney. R. J. Walker appointed Governor of Kansas.
1858.—Congress passes the English Kansas Bill but State refuses to accept.
Treaty of amity with China.
1858.—First Atlantic Cable laid; second in 1866. U. S. Army defeats the
Mormons in Utah. Minnesota State Government organized. Nicaragua seeks the
protection of the United States.
1859.—John Brown’s raid at Harper’s Ferry, Va., his capture and execution.
1860.—Ratio of Representation fixed at 127,000. Crittenden Compromise
introduced and defeated. Prince of Wales visits the United States. Senators and
Federal Officers from the South favoring disunion, resign. President Buchanan
denies the right of a State to secede, and declines to receive the South Carolina
Commission. Eighth census; population 31,443,321. Abraham Lincoln,
Republican, elected President. The “Palmetto Flag” hoisted in Charleston
harbor. Georgia appropriates $1,000,000 to another state. Maj. Anderson takes
possession of Fort Sumter.
1861.—Congress meets in Special Session. The President calls the volunteers
and $400,000,000 to put down the Rebellion. Jacob Thompson, Secretary of
Interior, resigns. Mississippi, Florida, Alabama, Georgia, Louisiana, and Texas
passed secession ordinances. John A. Dix appointed Secretary of Treasury, vice
Thomas, resigned. Jeff Davis resigns his seat in the U. S. Senate.
Southern Confederacy formed at Montgomery, Ala. Peace Congress meets at
Washington. Jeff Davis elected President of Southern Confederacy. Gen. Twiggs
expelled from the army for treason. Peace Congress adjourned after a stormy
session—accomplished nothing. Beauregard takes command at Charleston, S. C.;
and stops intercourse between Fort Sumter and Charleston. President Lincoln
calls for 75,000 volunteers. Jeff Davis offers letters of marque to privateers.
President Lincoln declares the Southern ports in a state of blockade. Virginia
proclaimed a member of the Southern Confederacy. McClellan placed in
command of the Department of Ohio. Arkansas secedes. England acknowledges
the insurgent States as belligerents. North Carolina secedes; Kentucky declares
neutrality. Tennessee secedes. Federal troops cross the Potomac. All postal
services in the seceded States suspended. Gen. McClellan assumes command in
West Virginia. The Wheeling Government, Virginia, acknowledged by the
President. July 4, Congress meets in extra session. Fremont appointed to
command of Western Department. Nine Southern members expelled from U. S.
Senate.
Confiscation bill passed. Congress adjourns. President suspends all commerce
with seceded States. President Lincoln orders Gen. Fremont to modify his
emancipation proclamation. Secession members of Maryland Legislature sent to
Fort McHenry. Gen. Scott resigns as Commander-in-Chief; Gen. McClellan
succeeds him. C. S. Congress convened at Richmond, Va. Breckinridge expelled
from U. S. Senate for treason. New York and Boston banks suspend specie
payment.
1862.—Slavery prohibited in the Territories. Internal Revenue Bill passed.
Polygamy forbidden in United Stales. Union Pacific Railroad chartered.
Department of Agriculture organized. A draft of 300,000 men to serve for nine
months, ordered by the Secretary of war; 600,000 volunteers called. Mason and
Slidell delivered to the British Minister. E. M. Stanton appointed Secretary of
war, vice Cameron, resigned. Cameron nominated Minister to Russia, vice Clay,
resigned. Jesse D. Bright expelled from U. S. Senate. Jefferson Davis
inaugurated President of the Southern Confederacy. Brigham Young elected
Governor of Deseret, Utah. National Tax Bill passed U. S. House of
Representatives. Gen. Halleck (July 11) appointed commander of all land forces.
Martial law declared in Cincinnati. McClellan, Sept. 7, takes command in person
of Potomac Army. Sept. 22, President Lincoln issues his Emancipation
Proclamation. Habeas Corpus suspended by U. S. Government. Nov. 5, Gen.
Burnside succeeds McClellan. All political prisoners released. Nov. 22, West
Virginia admitted as a state.
1863.—Jan. 1.—Lincoln declares all the slaves free. Bureau of Currency and
National Banks established. Death of “Stonewall” Jackson. First colored
regiment from the north leaves Boston. A loan of $900,000,000 ten-forties
authorized. Proclamation issued. Gen. Grant takes command of the West.
Slavery abolished by Proclamation.
1864.—Fugitive Slave Law repealed. A draft of 500,000 men ordered, and
700,000 men called for, 85,000 men accepted from Governors of Western
States. Lincoln re-elected President. Gen. Grant appointed to command U. S.
Armies.
1865.—The 13th Amendment passed. Amnesty Proclamation issued. Blockade
of Southern ports ended. $98,000,000 subscribed to the 7:30 loan during the
week ending May 13. A day of fasting on account of the death of President
Lincoln. All the nation in mourning. Lee surrenders to Grant. Johnson succeeds
Lincoln.
1866.—Freedman’s Bureau Bill and Civil Rights Bill passed. 14th Amendment
passed. Proclamation of Peace. Colorado bill vetoed. Suffrage given to colored
men in District of Columbia.
1867.—Southern States organized into Military Districts. Military
Government Bill and Tenure-of-Office Bill passed. Treaty with Russia for
purchase of Alaska concluded, price $7,200,000. Nebraska admitted as a State.
Reconstruction bill passed over President Johnson’s veto. Russian American
Treaty approved by the Senate. Jeff Davis released on bail. Congress meets in
extra session. Supplementary Reconstruction Bill passed, over veto.
1868.—Impeachment trial of President Johnson ends in acquittal. Fourteenth
Amendment declared part of the Constitution. Proclamation of Political
Amnesty issued. Grant, Republican, elected President. Congress meets. Senate
bill passed for the reduction of the army. Bill passed to abolish tax on
manufactures. The Chinese Embassy received by the President. Bill passed
Senate for admission of S. States. Commencement of difficulties between U. S.
Ambassador and the Government of Paraguay. The Senate ratifies the Chinese
Treaty. Freedman’s Bureau Bill passed over Johnson’s veto. Laws of United
States extended over Alaska. Failure of the Atlantic Cable of 1866. President
Johnson issues a universal amnesty proclamation.
1869.—Central Pacific and Union Pacific railroads completed.—1,913 miles in
length. United States Supreme Court decides Internal Revenue laws
constitutional. The Copper Tariff Bill passed over the veto. Passage of the
Reconstruction Bill. Indiana Supreme Court decide National Bank currency
taxable. Female Suffrage Bill passed by Wyoming Legislature. E. M. Stanton
confirmed as Judge of United States Supreme Court.
1870.—Fifteenth Amendment passed. Recall of the Russian Minister,
Catacazy, requested. Proclamation against Fenian raids into Canada issued.
Ninth census, population 38,555,883. Bill passed for the readmission of
Virginia. Legal Tender Act declared unconstitutional. The Saint Thomas treaty
expires by limitation. The North Pacific R. R. Bill becomes a law. Bill to abolish
Franking privilege defeated. The San Domingo Treaty rejected by the Senate.
The new Constitution of Illinois adopted.
1871.—Congress passes Bill against Ku-Klux, also Enforcement Bill. The
United States Senate passes the San Domingo Commission Bill. The $300,000,
on Five Per Cent. Refunding Bill passed by the House. Congress admits the
Georgia Senators. Deadlock in Indiana Legislature; thirty-four Republicans
resign. The Forty-first Congress expires; Forty-second organized. Alabama
Claims $12,830,384. Expenses of the United States census reported at
$3,287,600. The Apportionment Bill passed by Congress.
1872.—Tax and Tariff Bill passed diminishing Revenue. Ratio of
Representation fixed at 131,425; Representatives limited to 293. General
Amnesty Bill signed. $15,500,000 awarded the United States by Geneva
Tribunal. Emperor William of Germany decides the San Juan Question in favor
of the United States. Salary Retroactive Act passed. First repeal of the Franking
privilege. Federal officers are forbidden to hold State Offices. Suspension of the
Bank of Jay Cook & Co., causes a financial panic. Modoc War.
1874.—Political excitement in Louisiana. Grant vetoes the Finance Bill.
United States Senate passes Civil Rights Bill. Currency Bill vetoed. Fillmore and
Sumner die.
1875.—Senate ratifies the Treaty with Hawaii. Civil Rights Bill passed. New
Treaty with Belgium concluded. Financial trouble continued. Louisiana
Legislative hall taken possession of by United States troops. Colorado admitted
as a State.
1876.—Centennial Bill appropriating $15,000,000 passed. Secretary Belknap
impeached by the House, acquitted by the Senate. Postal Treaty with Japan.
Termination of the English Extradition Treaty announced.
1877.—Electoral Commission decided in favor of Hays. Spanish Extradition
Treaty announced. Federal troops recalled from the South. Nez Perces War.
1878.—Silver Bill. Halifax Fishing Award; Ben Butler opposes it.
1879.—Specie payment. Negro exodus begins. Ute War.
1880.—Election of Garfield as President, the October election in Ohio and
Indiana virtually deciding the issue in advance.
1881.—Assassination of President Garfield by Charles J. Guiteau; Vice-
President Arthur succeeds him. Resignation of Senators Conkling and Platt, of
New York.
1882.—Extended trial and final conviction of Guiteau, who set up the plea
that his assassination of President Garfield was due to an irresistible pressure
from Deity. Nomination of Roscoe Conkling to the Supreme Court. Blaine’s
eulogy on Garfield. The Mormon issue revived by Edmunds’ Bill; Chinese issue
revived by bill to prevent their immigration for twenty years. California and
Nevada make a holiday of Saturday, March 4, and devote it to mass meetings,
which said “the Chinese must go.” March 1, Senator Hoar, of Massachusetts,
makes a great speech against Chinese Bill; Senator Miller, of California, replies.
1883.—Jefferson Davis replies to ex-Judge Jeremiah S. Black’s article on
“Secession Secrets.” Death of ex-Attorney-General Black.
1884.—Nomination of James G. Blaine, and John A. Logan, at Chicago, for
President and Vice-President, who were defeated by Grover Cleveland and
Thomas A. Hendricks. Death of Hon. Charles J. Folger, Secretary of the
Treasury.
1885.—General Ulysses S. Grant, ex-President of the United States, died at
Mt. McGregor, July 22d, after a lingering and most painful illness of many
months. Death of Vice-President Thomas A. Hendricks, and election of Hon.
John Sherman as Acting Vice-President of the United States.
1886.—Marriage of Grover Cleveland and Miss Frances Folsom at the
Executive Mansion; and death of General George B. McClellan, General Winfield
Scott Hancock, ex-Governor Samuel J. Tilden—all three of whom had been
nominated for President of the United States; McClellan in 1864, Tilden in 1876,
and Hancock in 1880.
1887.—High License Campaign in Pennsylvania; liquor men resisted and
formed Personal Liberty Leagues; Republicans contended for High License and
Sunday Laws, and won by 46,000 majority. Death of General Philip Sheridan. In
December, at opening of Congress, President Cleveland sent in an Annual
Message devoted alone to Revenue Reform; Mr. Blaine wired an answer from
Paris in favor of Protection, and in this way the issue was opened.
1888.—Re-nomination of President Cleveland on Tariff for Revenue
platform; the Republicans nominated General Benjamin Harrison on a
Protective platform. A brilliant campaign followed and resulted in a Republican
victory. Warner Miller led a High License battle for Governor of New York;
beaten by Governor Hill by 18,000 majority. Delaware elected Anthony Higgins,
a Republican, for United States Senator.
1889.—Admission by Congress as States of North and South Dakota,
Montana and Washington, making 42 in all. The Pan-American Congress
assembled in Washington. Representatives of nearly all the Central and South
American governments attended. International Marine Conference also
assembled. Race troubles in the Southern States. Death of Jefferson Davis.
1890.—Death of Hon. William D. Kelly, known as “The Father of the House,”
after a service of thirty years in Congress.
The McKinley Tariff Bill and the Anti-Lottery Bill become laws. Democratic
“tidal wave” in the fall elections, overturning the Republican majority in the
House of Representatives and the State governments in many heretofore reliable
Republican States.
1892.—Re-nomination of President Harrison and nomination of Whitelaw
Reid at Minneapolis, for President and Vice-President. Re-nomination of ex-
President Cleveland and nomination of Adlai Stevenson at Chicago, for
President and Vice-President.

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Essentials of Entrepreneurship and Small Business Management 8th Edition Scarborough Test Bank

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Essentials of Entrepreneurship and

Small Business Management 8th

2) For an entrepreneur, a business plan ________.

3) The focus of a small company's marketing plan should be on ________.

6) Bootstrap marketing is a marketing approach that takes an unconventional, low-cost and

12) The foundation of every business is ________.

20) A critical marketing step is to clearly define their target market.

Currency Value of Gold.

1765.—March 8.—Parliament passes the Stamp Act. Oct. 7.—Colonial

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