Funding Act of 1870

Act of US Congress to re-fund the national debt

$20,000 bond issued in 1891 and authorized by the Funding Act of 1870

The Funding Act of 1870 (41st Congress, Sess. 2, ch. 256, 16 Stat. 272, enacted July 14, 1870) was an Act of Congress to re-fund the national debt. It allowed the exchange of high interest, short-term floating bonds bearing lower interest and terms of up to 30 years. Principal and interest of the new issues would be paid in "coin of the present standard value."

## Legislative history

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The bill was sponsored by Senator John Sherman (R) of Ohio. The debate over the funding bill was long and intense.[citation needed] The discussion focused very heavily on public virtue, national honesty, and avoiding "repudiation" on the one hand and unearned reward to speculators on the other.[citation needed] Members generally agreed that an investor should finally receive no more and no less than he lent on a contract at the beginning.[citation needed]

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Ulysses S. Grant

18th President of the United States (1869–1877)

Military career|

* Grant and the American Civil War
* Fort Donelson
* Shiloh
* Vicksburg
* Chattanooga
* Overland
* Richmond–Petersburg
* Appomattox
* Commanding generalship

Presidency|

* First inauguration
* Second inauguration
* Scandals
* Grantism
* Pardons
* Cabinet
* Judicial appointments
* State of the Union addresses
* 1869
* 1870
* 1871
* 1872
* 1873
* 1874
* 1875
* 1876

| Foreign policy|

* Treaty of Washington
* Alabama Claims
* Korean Expedition
* Proposed annexation of Santo Domingo

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Economic policy|

* Public Credit Act of 1869
* Copyright Act of 1870
* Currency Act of 1870
* Funding Act of 1870
* General Mining Act of 1872
* Timber Culture Act
* Specie Payment Resumption Act
* Desert Land Act

Government
reforms|

* Judiciary Act of 1869
* U.S. Department of Justice
* District of Columbia Organic Act of 1871
* Civil Service Commission
* Yellowstone National Park Protection Act
* Yellowstone National Park
* Post Office Consolidation Act
* Electoral Commission Act

Social policy|

* Reconstruction
* Amnesty Act
* Native American policy
* "Peace Policy"
* Modoc War
* Great Sioux War
* Indian Appropriations Act of 1871
* Enforcement Acts
* Enforcement Act of 1870
* Second Enforcement Act
* Ku Klux Klan Act
* Naturalization Act of 1870
* Comstock Act
* Poland Act
* Civil Rights Act of 1875
* Page Act of 1875

Post-presidency|

* Bid for a third term
* World tour

Books|

* Personal Memoirs of Ulysses S. Grant

Life|

* Early life
* Birthplace
* Boyhood home
* Schoolhouse
* White Haven home
* farm
* Ulysses S. Grant Cottage
* Galena home
* Horsemanship
* speeding arrests
* Grant's Tomb

Elections|

* 1868
* convention
* election
* 1872
* convention
* election

Legacy|

* Bibliography

| Memorials|

* Grant Memorial
* Presidential library
* Grant Park
* General Grant ship
* General Grant tree
* grove
* Grant Cottage State Historic Site
* The Peacemakers
* U.S. Capitol statue
* Brooklyn relief
* Chicago statue
* Ohio Statehouse statue
* Philadelphia statue
* San Francisco bust
* U.S. Postage stamps
* Currency
* $5 bill
* $50 bill
* 1922 Grant Memorial coinage
* Grant High School
* Mount Grant (Nevada)
* Mount Grant (Vermont)
* U.S. Grant Hotel

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Cultural depictions|

* Ulysses S. Grant (2002 documentary)
* Lincoln (2012 film)
* Grant (2020 miniseries)

Family|

* Hannah Simpson Grant (mother)
* Jesse Root Grant (father)
* Julia Grant (wife)
* Frederick Dent Grant (son)
* Ulysses S. Grant Jr. (son)
* Jesse Root Grant II (son)
* Nellie Grant (daughter)
* Ulysses S. Grant III (grandson)
* Chapman Grant (grandson)
* Ulysses S. Grant IV (grandson)
* Julia Dent Grant (granddaughter)

* ← Andrew Johnson
* Rutherford B. Hayes →

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