Economically he sided with Eastern bankers .
Economically he signed the Public Credit Act that paid U.S. debts in gold specie , but was blamed for the severe economic depression that lasted 1873 -- 1877 .
Economically he sided with Eastern bankers and signed the Public Credit Act that paid U.S. debts in gold specie , but was blamed for the severe economic depression that lasted 1873 -- 1877 .