AP US History vocabulary list: Difference between revisions

AP US History vocabulary list (view source)

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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
 |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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