Skip to main content

Charles Sumner

A nineteenth-century blueprint for the savings-and-loan scandal

It was a banking system. The act that made it possible slipped through Congress with hardly any debate and little attention to economic reality. Many of its highestranking officials knew little or nothing about the peculiar nature of the banking business.

Whatever you were taught or thought you knew about the post-Civil War era is probably wrong in the light of recent study

PRESIDENT LINCOLN MOVES AT LAST
Influence of “Advanced Republicans” Seen as Crucial to the Outcome
THE UNION UNITED STILL
THE PRESIDENT’S TACT & COURAGE
HE WAITED ON THE PROPER HOUR
JUBILATION AMONG THE BLACKS
They Stand Ready to Defend With Arms the Rights Thus Gained
NEW LIGHT SHED ON THE PARTICULARS OF THE GREAT DRAMA

When the cold, fastidious Mississippian rose to speak, a hush fell over the crowded Senate chamber. It was January 21, 1861, and Jefferson Davis and four other senators from the Deep South were here this day to announce their resignations.

The Navy and contractor Smith accused each other of fraud. The Navy won—until the President took a hand

The way of the reformer is hard. The way ofthat idealistic David who slings his polished stones at the Goliath of military bureaucracy is trebly hard. He needs a firm heart and strong friends. Franklin W.

Was it, as Navy Secretary Welles believed, “a conspiracy to overthrow the government”?

(Congress debates acquiring Alaska, 1867)

We hope you enjoy our work.

Please support this magazine of trusted historical writing, now in its 75th year, and the volunteers that sustain it with a donation to American Heritage.

Donate