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The Politicos, 1865-1896 Hardcover – June 15, 2008
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Josephson said the Civil War was not over slavery or state's rights. After 1850 wealth lay in manufacturing rather than agriculture. Banking, shipping, and most of the white population were in the North. The slave oligarchy held power and office since 1828, then rebelled when they lost their advantage (Chapter 1). This allowed the Whig policies of pro-business laws, a national banking system, internal improvements of rivers and harbors, a protective tariff, Pacific railway subsidies, and free homesteads. This aided the industrialist and financial class, Northern farmers, and the new Republican party. But the new banks and the retirement of fiat paper money caused deflation and difficult debt repayments, government policy that oppressed most people. President Andrew Johnson spoke against government benefits for industry and tried to tax the interest on government bonds.Read more ›