AP US History vocabulary list: Difference between revisions

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|Mississippi Company
|1720
|French company had Royal grant for trading rights to French colonies in Americas
* to cover French government debt over Louis XIV's wars, the government allowed the compan to issue paper money backed by national debt
* speculation in shares of the company led to more paper money issued, which was then put back into company shares, which led to the second largest bubble in economic history ($6.5 trillion peak value in current dollars, behind only the Dutch East India Company bubble)
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|Panic of 1857
|Panic of 1857
|1857-1859
|1857-1859
|National financial crisis sparked by British change in requirements for gold and silver reserves for paper money
* the influx of gold from the California Gold Rush greatly expanded the money supply but was also inflationary and led to excessive speculation
* in the US, a finanical panic followed the collapse of a major investment company (Ohio Life Insurance and Trust)
* speculation in railroads had exploded, and many were fraudulent, and after the Ohio Life company failed, prices collapsed
* grain prices also experienced a bubble in the mid 1850s, which led to farmland speculation, both of which also collapsed in the Panic
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* national financial crisis sparked by British change in requirements for gold and silver reserves for paper money
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** the influx of gold from the California Gold Rush greatly expanded the money supply but was also inflationary and led to excessive speculation
|Crédit Mobilier scandal
* in the US, a finanical panic followed the collapse of a major investment company (Ohio Life Insurance and Trust) and declines in the railroad industry
|1864-1867
* the downturn was also result of
|A railoard company created by the Union Pacific Railroad to build the eastern portion of the transcontinental railroad inflated its costs by $44 million dollars and paid bribes to politicians for laws and regulatory ruilings in its favor
 
* the scandal was broken by a newspaper during the 1874 presidential campaign and led to a political crisis for certain members of Congress and the Republican Party in general
* which along with other
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