Carpetbaggers. The American Economy: A Historical Encyclopedia

Carpetbaggers
Term given to Northerners who traveled south during Reconstruction hoping to make a fortune by taking advantage of
the South’s weakened economy following the Civil War.
Southern states, essentially bankrupt and starved for capital at the close of the Civil War, hoped Northern investors
would revitalize the Southern economy. Reassured by the
Southern press that the Northerners meant no harm,
Southerners welcomed Northern investors, who were drawn
to the potential for wealth. Among these “carpetbaggers” were
well-educated businesspeople, political leaders, teachers, and
soldiers who worked in partnerships with southern planters.
Some bought abandoned or repossessed land, hoping to take
advantage of the South’s agricultural opportunities. Northern
investments helped raise land prices and allowed the
Southern planters to maintain their standard of living. Some
carpetbaggers became involved in reform and politics, seeking to modernize the South through various internal
improvements. Several carpetbaggers served in Congress
during Reconstruction.
Although most people recognized the importance of the
carpetbaggers in stabilizing the Southern economy, they
remained unpopular outsiders in many areas. The carpetbaggers’ confidence and their disregard for Southern opinions
Carpetbaggers 41and culture often created tensions. Another area of strain
involved race. Carpetbaggers and their Southern counterpart,
Scalawags, tended to vote along Republican lines aligned with
the newly freed slaves, some working as Freedmen’s Bureau
agents. This antagonism helped promote the vicious image
associated with the carpetbagger. (The name itself was negative and came from rumors that the Northerners were from
lowest class and moved south with everything they owned
put in one bag made of carpet.) Most carpetbaggers either
returned to the North or joined Southern society after the
compromise of 1877, which resulted in Rutherford B. Hayes
becoming president with the understanding that
Reconstruction would end.

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