A variety of things happened, mainly in America, the Depression of 1870 resulted in the crackdown of big businesses. During this period of time known as the "Gilded Age" monopolies were very common. Manipulation of stock markets occured. Eventually numerous measures were passed in order to stem the tide of big business such as the Sherman Anti-Trust Act
Chat with our AI personalities
It caused an economic depression and loss of hope. It used to be called the Great Depression, before the Great Depression of the 1930's. It is now called the Long Depression. It also lead to conflict in the USA over the backing of money i.e. The Gold Standard vs The Free Silver Movement.
The money supply and civil-service reform
The government adopted the gold standard.
He was a founder of the National Grange of the Patrons of Husbandry, the central influence in the Granger movement of the 1870s.
Democrats were able to take over a majority in Congress thanks to the prevailing distrust of Americans toward the Republican Party, since Grant was a member of the Republican Party, and were able to enact regulations involving speculation that could prevent another financial panic. New oversight, rebuilding the railroad industry, and new investments in the economy eventually ended the financial depression of the 1870s.