@Brooski plays Panic of 1825 (a little late).
As the reader may recall, in 1825 the Dallas administration passed the Land Act of 1825, providing inexpensive land in the Western territories to would be pioneers. At the time, this was seen as a great victory. Unfortunately, much of the land was purchased by speculators, using intermediaries to pool land purchases into large tracts. These tracts were allowed to lie fallow for a generation, mainly serving as grazing land for cattle.
The rise of the railroad made these large tracts more valuable, as the various railroad interests competed to secure easements for right of way, as well as coaling stations for the engines. This new interest set off an even more fevered wave of speculation, as multiple railroad companies looked to expand and investors saw the chance for profit. Unfortunately, many of the railroad companies turned out to be frauds, enriching their owners at the expense of their investors, often shutting down after collecting investor money.
The collapse of western land values sent ripples through the economy, as the major financial houses in New York made margin calls that land speculators could not meet. The collapse in land values sparked a panic, as banks were unable to recover on the loans they had made. People ran to the banks to withdraw their cash, freezing up credit and liquidity. It was a bad omen for the beginning of the King administration.
Panic of 1825 reduces reserves by 4, moves Public Support 2 towards center and reduced President’s popularity by 1. Remove from play.
Ripped from today’s headlines…
@Panzeh plays New York draft riots for +1 IP.
President King Makes an Important Speech regarding the importance of the people having confidence in the nation’s expansion Westward, intended to calm: investors, the markets and the banks. He also attempts to encourage the populace and ameliorate the effects of the 1848 Panic. The speech is made in New Jersey, as a Railroad begins to lay track to St. Louis, MO, the Eastern-Mississippi Line. He makes the statement that the United States has a “Manifest Destiny” to settle the continent, and use its resources to better the prosperity of mankind.
Action phase begins, starting with President King. @Navaronegun.
President King declines all actions.
@Brooski
Panzeh
1840
Thaddeus Stevens will do his thing for free.
Pass after Stevens speech is resolved.
@Panzeh, Stevens rolls a modified 5. Want to spend the 1?
After that, there is an auction for a card and the last impulse, starting with @Brooski.
President King declines all actions.
Panzeh
1847
Spend 1 IP to get Stevens popularity and pass on bidding
@Cuthbert wins. Any action this impulse @Cuthbert?
