When Ulysses Grant was president, did the United States economy prosper or decline?

Answer 1

You had the beginnings of the Industrial Revolution in America during Grant's administration, but you also had the Panic of 1873. Also, the Civil War debt got paid off during Grant's time in office.

Answer 2

He served from 1869-1877, and in 1873, there was a panic, leading to a kind of depression in the economy. What had happened was that the investment firm of Jay Cooke had gone bankrupt. This company was heavily invested in railroad stock, including the Northern Pacific, a proposed route through the northern states (Minnesota, the Dakotas, etc.) Other companies were also heavily invested in rail stock.

When a large firm such as Cooke's went under, it caused a crisis of confidence (why they call these Panics), and the value of the paper dollar decreases. The more dollars it takes to by a pound of grapes from the greengrocer, combined with the fewer dollars in the hands of the people at the bottom of the economic ladder, leads to hunger. This kind of thing can spiral into something very serious, like it did at this time, and again in 1929.

One thing this period had that 1929 didn't have, free land to the west, and it served as a safety valve, in theory at least.
The other was that in 1876, George Custer had led an surveying party into the Black Hills, an area sacred to many of the Plains people, and reported "gold, from the grass roots down". This produced the Black Hills gold rush that placed such characters as James Butler (Wild Bill) Hickock, Martha Jane (Calamity Jane) Canary, and George Custer in the region defended by men like Crazy Horse, Sitting Bull and Gall. Gold was "hard" money, or specie, as opposed to paper money. Gold always has a value, paper doesn't.

Answer 3

This is the fourth time you have asked this same question. Give up already.

Answer 4

I think it prospered?