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The Reconstruction era was the period in American history that lasted from to following the American Civil War —65 and is a significant chapter in the history of American civil rights. Reconstruction ended the remnants of Confederate secession and abolished slavery , making the newly freed slaves citizens with civil rights ostensibly guaranteed by three new constitutional amendments. Reconstruction also refers to the attempt to transform the 11 Southern former Confederate states , as directed by Congress , and the role of the Union states in that transformation. Three visions of Civil War memory appeared during Reconstruction: the reconciliationist vision, which was rooted in coping with the death and devastation the war had brought; the White supremacist vision, which included racial segregation and the preservation of White political and cultural domination in the South; and the emancipationist vision, which sought full freedom, citizenship, male suffrage , and constitutional equality for African Americans. Johnson favored rapid measures to bring the South back into the Union, allowing the Southern states to determine the rights of former slaves. Lincoln's last speeches show that he leaned toward supporting the suffrage of all freedmen , whereas Johnson and the Democratic Party were strongly opposed to this. Constitution , while curtailing the rights of former Confederates, such as through the provisions of the Wade—Davis Bill. Negative Impact Of Reconstruction.

One of the most significant downsides of poorly regulated economies is the cycle of booms and busts. These were more rampant in the nineteenth century than later on Impqct to lack of legislation and a more volatile American expansion economy. Thus, minor issues could create considerable economic turmoil for the United States.

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One such period of chaos was the Panic of What caused the Panic of was simple economics gone out of control. Recohstruction effects of the Panic of helped shape the rest of the Gilded Age, tarnished the Grant Administration, and helped solidify the power of bankers in the Republican Party. Following the Civil War, railroads expanded at a critical rate across the nation.

The Railroad companies were the largest non-agricultural employer, and banks and other industries were quickly putting their money into railroads. When a heavily invested banking firm, Jay Cooke and Company, closed its doors on September 18,panic swept the nation. The Jay Cooke firm Negative Impact Of Reconstruction a major financier for the Union during the Civil War, and they continued their government support through the railroad industry. Investors could make it big in the railroad industry, and the business became notorious for how corrupt and crooked it could become.

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With the completion of the First Transcontinental Railroad infirms started building funds to construct a second such railroad. European groups had begun investing in American industry as well, and that included railroad expansion. The Negaive of this investment was not through actual cash but with bonds. These bonds were incredibly speculative and not very well regulated.

Thus, if something went wrong at any point in the financial chain, it could collapse like a house of cards. As a result, the Panic of turned out to be the first worldwide economic crisis.

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Jay Cooke proved to be the weak link in this Negative Impact Of Reconstruction. Part of the problem was that early economies relied on specie, that is, precious metals, NNegative back their currency. One such country was, of course, the United States. Enter Jay Cooke once again, as they were heavily invested in railroad construction, including the Northern Pacific Railroad. His bankruptcy rippled through the markets, first into private investment houses and banks, then railroad and industrial holdings.

The Panic of proved to be the first major economic crisis faced not just by a single country but the world.

What caused the Panic of 1873?

Industrial economies ground to a crawl as factories ceased or reduced production, let staff go, and closed down. A significant side-effect of this was reduced efforts of Reconstructionthe steps to reincorporate the rebellious southern states and their former slaves turned citizens.

As the Panic dragged on, the effects Impach across the United States and the globe. For the United States, though, it meant lines in the sand for the Democrats, the party of white farmers and laborers, and the Republicans, the party of blacks and the wealthy. The depression was especially severe for southern Blacks.]