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Date Posted: 19:15:04 11/12/02 Tue
Author: cassie
Subject: Economic Measures

Economic Measures
-with the south gone from Congress Republicans had no opposing oppositions to them

*Republican Economic Policy
-Homestead Act of 1862: any citizen to claim 160 acres of land, pay small fee after living on it for 5 years
-Morril Land Grant Act:transfered public to state government,lead to development of new state colleges
-congress wanted to finish building the railroads
-Union Pacific Railroad COmpany built westward from Omaha
-Central Pacific built from eastward to Cali.
-two railroads were to meet in the middle

*National Bank Acts
-created new banking system
-banks with enough capital could invest a 1/3 of it in to gov. securities then get U.S. Treasury notes as currency
-got rid of confusion with nation's currency

*Funding the war
-levying taxes: on all goods and services,income taxes
-issuing paper currency:greenback dollar came much like are money today
-bonds were bought by the people
-borrowing:totaled 2.6 billion

-

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