Republican+Economic+Program-+hoestead+Act-+Prtective+Tarrif-+National+Bank-+Transcontinental+Railroad

Republican Economic Program- Homestead Act- Protective Tariff- National Bank Acts- Transcontinental Railroad

The Republican party played a major role in stimulating the Northern and Western economy during the Civil War. With the Democrats succeding the Union during Abraham Lincoln's presidency, the Republican party gained a majority within Congress. They took advantage of this opportunity by passing a series of plans that would strenghthen the economy during this troublesome time. Known as the Republican Economic Program, this prgram consisted of the Homestead Act, Protective Tariffs, the National Bank Acts, and the completion of the Transcontinental Railroad.

Homestead Act- passed on May 20, 1862 the Homestead Act accelerated the settling of the western territory and promoted the idea of expansion. With this act the government offered parcels of 160 acres of public land located in the Great plains, free of charge, to any adult citizen, intended citizen, or family who had never boure arms against the U.S. government. All that was required was an agreement to work that land for a minimum of 5 years. After those five years passed they could puchase that land by paying $1.25 per acre to the government. If worked on by soilders who had fought in the war a deduction of the they serviced was taken out of the residency requirements for the land. Released at the same time, the morill Land Grant was another Act that was included within this economic program. It made states sell fderal land grants and use the money produced from it to fun for colleges and education.

__** Protective Tariff **__- The Protective policy was introduced in 1861. With war underway the Union was in need of revenues. With the Southerns out of congress, the republicans passed the Morrill Tariff of 1861 and it took effect a few days before the war began. It raised the rates of tariffs in an attempt to increase revenues and protect American manufacterers. This tariff initated the Republican protective program for American industries. With the civil war A tariff was never placed on goods from the Confederacy because the Union never recognized the legalitamitcy of the Confederate States of America. After the war, high tariffs remained.

**__Nation Bank Acts__-** Passed on Feburary 25,1863 the Nation bank Act were a series of United States federal laws that esstablished a system of national charters for banks.It encouraged the development of a national curency that would be based upon the National Bank Notes. As part of the Tresury the Acts also established the Office of the Comptroller of the Currency (OCC). This Act along with Abraham Lincoln's issuance of "greenbacks", or paper currency, raised the money needed for the Civil War by persuading banks to by federal bonds. The first attempt proved to be defective but was replaced by a revised one in 1864. the money gained from this act was used to fund the Union army during their fight against the Confederates.The very first bank to recieve a nation charter was the Pittsburg Trust and Savings Company known today as the PNC Bank.

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The Transcontinential Railroad**__- Built between 1863 and1869 due to the Pacific Railway Act of 1862 which allowed the building of the railroad over a northern route in an attempt to link the economies of California and the western territories with those of eastern states through the use of two companies: Union Pacific and Central Pacific. The connection ran from Omaha, Nebraska to Almeda, California. By linking these to locations with that of the exsisting railroad network in the East, the United States was able connect the Atlantic with the Pacific for the very first time. It revolutionized the economy and increased the population of the west. Supported by the Railway Act, 30-year U.S bonds, and extentsive government land grants the transcontinental railroad became a crowning achievement for the United States. The railroad served as a vital link for trade, travel, and commerce. It also lead to a decrease in the Oregon and Califorina trail that had populated much of the west as the railroad provided a cheaper and much faster alternative to travel. Although it was a plus for the Americans, the railroad had its downside being that with the increase of populated land in the west the homes of Native Americans declined. To go along with the railroad telegraph lines were built along side the tracks to handle the rapid need for communication.