One of the most important domestic policy that Grant had issued is the Reconstruction Policy. Grant came into office during a very difficult time. During the 1870's, the Civil War was just over and the country is looking forward to reuniting and rebuilding. Grant decided to follow Lincoln's policy which allow the South to rejoin instead of punishing them. The problem for Grant is how to maintain and protect the rights of the newly free African Americans. In the beginning of his presidency, he uses both military and federal legislation to protect the right of African Americans. in 1870, Grant passed the Enforcement Acts to help protect the rights to vote. He also tried to ratify the Fifteenth Amendment which allow all citizen to vote regarding their race.
The Panic of 1873
The Panic of 1873 started when two guy named Jay Gould and Jim Fisk tried to coner the gold market. They tried to convince Grant administration not to sell the government gold so that the gold that they hold would be more valuable. When Grant found out about this, he ordered his administration to sell the government gold. This cause many companies to fail including the railroad industries, which was booming during that time. When railroad companies fail, other large bank and companies also because they invest a lot on the railroads. One of them is the Jay Cooke & Company, an important bank of the country. The failure of the Jay Cooke bank cause a chain reaction which lead other banks to fail. the New York stock market was temporarily closed. Of 364 railroads, 89 were bankrupt. 18,000 businesses fail and unemployment rate rose to 14%.
Native American Policy
Grant tried to improve the relationship between the Native Americans and the government, seeing them as "The origional occupants of this land." He wanted to change federal Indian policy to what is known as the Peace Policy. He tried to aid the Natives by housing them in reservation and train them to become farmers. However, this doesn't last long. White settlers started pushing the Natives, taking land to build towns. They relied on the army to protect them against any Indian attacks. Inidans were not able to farm on deserted land and were overwhelmed by poverty. Grant's approach on the Native American Policy was remembered for its good intention rather than its lasting effects.
Ulysses s.grant
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