Ulysses S. Grant

Civil War general and 18th President of the United States (d. 1885)

American Civil War: Forces under Union General Ulysses S. Grant bloodlessly capture Paducah, Kentucky, giving the Union control of the Tennessee River's mouth.

American Civil War: Battle of Belmont: In Belmont, Missouri, Union forces led by General Ulysses S. Grant overrun a Confederate camp but are forced to retreat when Confederate reinforcements arrive.

American Civil War: General Ulysses S. Grant issues General Order No. 11, expelling Jews from parts of Tennessee, Mississippi, and Kentucky.

American Civil War: forces under the command of Ulysses S. Grant and Andrew H. Foote give the Union its first victory of the war, capturing Fort Henry, Tennessee in the Battle of Fort Henry.

American Civil War: Battle of Wauhatchie: Forces under Union General Ulysses S. Grant repel a Confederate attack led by General James Longstreet. Union forces thus open a supply line into Chattanooga, Tennessee.

American Civil War: Battle of Chattanooga begins - Union forces led by General Ulysses S. Grant reinforce troops at Chattanooga, Tennessee, and counter-attack Confederate troops.

American Civil War: Battle of Lookout Mountain - Near Chattanooga, Tennessee, Union forces under General Ulysses S. Grant capture Lookout Mountain and begin to break the Confederate siege of the city led by General Braxton Bragg.

American Civil War: Battle of Missionary Ridge - At Missionary Ridge in Tennessee, Union forces led by General Ulysses S. Grant break the Siege of Chattanooga by routing Confederate troops under General Braxton Bragg.

American Civil War: The Battle of Fair Oaks & Darbytown Road (also known as the Second Battle of Fair Oaks) ends: Union forces under General Ulysses S. Grant withdraw from Fair Oaks, Virginia, after failing to breach the Confederate defenses around Richmond, Virginia.

During the reconstruction era after the American Civil War, the United States government issued a large amount of public debt to finance construction. This included the issuing of fiat greenbacks, not backed by gold, but were required to be accepted for the payment of federal debt. It was generally believed that the U.S. Government would ultimately redeem the “greenbacks” with gold. In 1869, a group of speculators, headed by James Fisk and Jay Gould, sought to profit from this by cornering the gold market. Gould and Fisk first recruited Grant’s brother-in-law, a financier named Abel Corbin. They used Corbin to get close to Grant in social situations, where they would argue against government sale of gold, and Corbin would support their arguments. Corbin convinced Grant to appoint General Daniel Butterfield as assistant Treasurer of the United States. Butterfield agreed to tip the men off when the government intended to sell gold. In the late summer of 1869, Gould began buying large amounts of gold. He never sold this gold. This caused prices to rise and stocks to plummet. After Grant realized what had happened, the federal government sold $4 million in gold. On September 20, 1869, Gould and Fisk started hoarding gold, driving the price higher. On September 24 the premium on a gold Double Eagle (representing 0.9675 troy ounces (30.09 g) of gold bullion at $20) was 30 percent higher than when Grant took office. But when the government gold hit the market, the premium plummeted within minutes. Investors scrambled to sell their holdings, and many of them, including Corbin, were ruined. Fisk and Gould escaped significant financial harm.

President Ulysses S. Grant signs a joint resolution of Congress establishing the U.S. Weather Bureau.