Chapter 23***
1. “Waving the bloody shirt”- it means the practice of politicians making reference to te blood of martyrs or heroes to criticize opponents
2. Tweed Ring - Corrupt New York City political machine led by "Boss" Tweed, that used tactics such as bribery, graft, and fradulent elections; in 1871, the New York Times published evidence of Tweed's corruption and illegal activities, leading to his arrest and conviction.
3. Credit Mobilier Scandal- Erupted in 1872, when Union Pacific Railroad insiders formed a construction company, then hired themselves at inflated prices to build the railroad lines; in order to avoid being exposed, the company distributed valuable shares of stock to key politicians, including the vice president; the scandal was eventually revealed in a newspaper expose.
4. Panic of 1873- Economic crisis caused by unbridled capitalist expansion; overeager promoters had developed more railroads, mines, factories, and agricultural ventures than the market could bear, and bankers made too many imprudent loans to finances these enterprises; when they were unprofitable, the loans went unpaid, causing financial chaos.
5. Gilded Age- A name for the late 1800s, coined by Mark Twain (sarcastically because of the corruption) to describe the tremendous increase in wealth caused by the industrial age and the ostentatious lifestyles it allowed the very rich. The great industrial success of the U.S. and the fabulous lifestyles of the wealthy hid the many social problems of the time, including a high poverty rate, a high crime rate, and corruption in the government.
6. Compromise of 1877 - Compromise that resolved the disputed election of 1878, which had led to political paralysis and impending conflict as both parties argued over returns from four states; under the agreement, Republican Rutherford Hayes took office, in return for withdrawing federal troops from the contested states and support for railroad construction.
7. Sharecropping- A system...