Black friday Scandal 1869
Early in Grant's first term, two gold speculators Jay Gould and James Fisk hoped to buy gold at $130 per ounce and sell it at $160 per ounce. They tried o corner the gold market. They went to Grant, who had no understanding of monetary issues, and convinced him to tell Treasury Secretary George Boutwell to stop selling gold. The price rose to $162 per ounce before Grant realized what he was tricked into doing.
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showed last 75 words of 351 total
Belknap Fraud 1876
In 1876, Secretary of War, William Belknep, was under investigation for accepting bribes in connection with the Indian Agency. He resigned as congress was voting on his impeachment. A few months later, Navy Secretary, William Robinson, was investigated over grain contracts that he had signed. He also was faced with impeachment but never resigned due to Grant's inaction. Over the course of Grant's presidency, all of the executive departments came under investigation.