RECONSTRUCTION 1865 1877
THE END OF RECONSTRUCTION AND THE ELECTION OF 1876
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Many Southern small farmers lost their farms.
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Many former slaves who were working on plantations lost their jobs.
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The Radical Republicans became stronger by blaming Southern Democrats for the economic hard times.
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Economic hard times caused Northerners to lose interest in what was going on in the South.
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Detailed explanation-1: -This collapse was disastrous for the nation’s economy. A startling 89 of the country’s 364 railroads crashed into bankruptcy. A total of 18, 000 businesses failed in a mere two years. By 1876, unemployment had risen to a frightening 14 percent.
Detailed explanation-2: -The financial panic of 1873 and the subsequent economic depression helped bring Reconstruction to a formal end. Across the country, but especially in the South business failures, unemployment, and tightening credit heightened class and racial tensions and generated demands for government retrenchment.
Detailed explanation-3: -The Panic of 1873 One of the worst happened in 1873 – during the time of the Freedman’s Bank. The panic started with a problem in Europe, when the stock market crashed. Investors began to sell off the investments they had in American projects, particularly railroads.
Detailed explanation-4: -By the end of the Panic, in 1859, tensions between the North and South regarding the issue of slavery in the United States were increasing. The Panic of 1857 encouraged those in the South who believed the North needed the South to keep a stabilized economy, and southern threats of secession were temporarily quelled.