Credit Risk Management in Zimbabwe - 5735 Words

European Journal of Business and Management ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online) Vol 4, No.1, 2012 www.iiste.org An Analysis of the Challenges Faced by Banks in Managing Credit in Zimbabwe Severino Mavhiki1 Denver Mapetere1* Christopher Mhonde,1 1. Faculty of Commerce, Business Management Department, Midlands State University, P bag 9055 Gweru, Zimbabwe * E-mail of the corresponding author: mapetered@msu.ac.zw Abstract The purpose of the study is to analyse the challenges facing banks in managing credit in Zimbabwe in the wake of the multicurrency regime that was introduced in the year 2009. The study is relevant considering that banks have an important role of financing the undercapitalised productive sectors .The chi-square†¦show more content†¦H2: Banks general approach to lending affects the capacity of the bank to manage risk. H3: Loan concentration by banks has increased their risk of exposure. H4: Interbank lending can help reduce exposure. H5: Retention of money by banks can help minimise exposure. 2 Literature review www.iiste.org 2.1 The Concept of Credit management Banks raise funds by collecting deposits from businesses and individual depositors and makes out loans to individuals, businesses and the government through buying bonds. Thus the primary assets of banks are loans and bonds while primary liabilities are made of deposits. According to Saunders and Cornett (2005), a banks balance sheet has loans representing the majority of a banks assets, but the loans come with risk. If the bank makes bad loans to firms or consumers for example, the bank will be in a crisis if those loans are not repaid. Credit management is thus fraught with rewards and risks that need to be balanced through judicious and prudent risk management, failure of which may lead to litigation, financial loss or damage of the banks reputation (RBZ Guideline No. 1 2006). Lending activities have been controversial and a difficult matter especially in developing and emerging countries (Richard 2006). This is because business firms on one ha nd are complaining about lack of credits and theShow MoreRelatedEvaluating The Effectiveness Of Credit Risk Management Tools Essay1565 Words   |  7 Pagesloans arise from credit risk or default risk which as defined by Jorion(2003) is the risk of an economic loss from the failure of a counterparty to fulfill its contractual obligations. Its effect is measured by the cost of replacing cash flows if the other party defaults. Credit risk can thus be seen to contribute significantly to the profitability of an organization and hence the need to hedge against such risk. This study aims to assess the effectiveness of credit risk management tools which areRead MoreHistorical Background Of Manufacturing Smes1217 Words   |  5 Pagesbackground of manufacturing SMEs in Zimbabwe. The other issues to be highlighted and discussed include problem statement, purpose or justification of the study, objectives of the study, research questions, research hypothesis, significance of the study, resea rch assumptions, scope or delimitations of the study, ethical considerations and a summary. 1.2 Background to the study (60) Small to medium enterprises (SMEs) have become increasingly important to Zimbabwe s economic growth. Given the increasingRead MoreNon Perfoming Loans in Commercial Banks in Zimbabwe Is Now a Cause of Concern as It Is Threatening the Survival of Banks Bit by Bit3446 Words   |  14 PagesJournal of Emerging Trends in Economics and Management Sciences (JETEMS) 3(6): 882-886  © Scholarlink Research Institute Journals, 2012 (ISSN: 2141-7024 jetems.scholarlinkresearch.org Economics and Management Sciences (JETEMS) 3(6):882-886 (ISSN:2141-7024) Journal of Emerging Trends in Insights on Non-Performing Loans: Evidence from Zimbabwean Commercial Banks in a Dollarised Environment (2009-2012) 1 Laurine Chikoko, 2Tendekayi Mutambanadzo and 3Takaiona Vhimisai 1 Department of Banking and FinanceRead MoreThe Impact of Effective Credit Risk Management on Bank Survival5286 Words   |  22 PagesEFFECTIVE CREDIT RISK MANAGEMENT ON BANK SURVIVAL * KOSMAS NJANIKE ABSTRACT: A number of financial institutions have collapsed or experienced financial problems due to inefficient credit risk management systems. The study seeks to evaluate the extent to which failure to effectively manage credit risk led to Zimbabwe’s banks’ demise in 2003/2004 bank crisis. It also seeks to establish other factors that led to the banking crisis and to outline the components of an effective credit risk management systemRead MoreEffectiveness Of Working Capital Management Essay2136 Words   |  9 Pagesprevious chapter. The findings and discussions give an overview to the management team on what needs attention 5.2 Summary of critical features (80%) The research set out to analyse the effectiveness of working capital management systems in improving the profitability of manufacturing SMEs in Zimbabwe. The primary objective of the research was to analyse the working capital needs of SMEs,to establish whether working capital management systems have an impact on the profitability of a SMEs so as to provideRead MoreEffectiveness Of Working Capital Management Essay2832 Words   |  12 Pagesprevious chapter. The findings and discussions give an overview to the management team on what needs attention 5.2 Summary of critical features The research set out to analyse the effectiveness of working capital management systems in improving the profitability of manufacturing SMEs in Zimbabwe. The primary objective of the research was to analyse the working capital needs of SMEs,to establish whether working capital management systems have an impact on the profitability of a SMEs so as to provideRead MoreEffectiveness Of Working Capital Management Essay2137 Words   |  9 Pagesprevious chapter. The findings and discussions give an overview to the management team on what needs attention 5.2 Summary of critical features The research set out to analyse the effectiveness of working capital management systems in improving the profitability of manufacturing SMEs in Zimbabwe. The primary objective of the research was to analyse the working capital needs of SMEs, to establish whether working capital management systems have an impact on the profitability of a SMEs so as to provideRead MoreHistory of the Banking Idustry in Zimbabwe3381 Words   |  14 PagesThe History of the Banking Industry in Zimbabwe It is important to analyse and evaluate the banking structure in Zimbabwe for us to appreciation how IT will really fit in. The Zimbabwe’s Banking sector is relatively sophisticated, consisting of the Reserve Bank of Zimbabwe, Discount Houses, Commercial Banks, Merchant Banks, Finance Houses, Building Societies and The Post Office Savings Bank. The development of the Zimbabwean banking sector can be analysed within three separate periods, which theRead MoreFinancial Management Systems Are Of Great Importance To1584 Words   |  7 PagesFinancial management systems are of great importance to business success. There are many reasons why most firms plunge into financial disaster. Some of these factors include loss of market share, excess debt, management problems and technology changes (Kierulff Peterson, 2009). Specifically, the successful management of working capital is crucial to the success of a business and their survivals to a great extend due to economic volatility. The pace at which new firms are established and the desireRead MoreProduct Innovation Charter5919 Words   |  24 PagesLimited, Kingdom Asset Management and Kingdom Asset management all duly registered as a discount house, asset manager and member of the Zimbabwe Stock Exchange respectively. In 1997 Kingdom Bank Limited and Kingdom Asset Management were registered as an Accepting House and Manager of Collective Investment Schemes respectively. In 1999, Kingdom Financial Holdings merged with Discount Company of Zimbabwe Holdings Limited resulting in the reverse listing of the Group on the Zimbabwe Stock Exchange and changed

Essay about The Life of Robert Frost - 1404 Words

ROBERT FROST â€Å"Two roads diverged in a wood and I- I took the road less traveled† How did Robert Frost take the road less traveled in his life? Frost was a poet who lived a hard life. With 6 kids and a wife, he had a lot of people to provide for. He was a man who wore many hats, being a dad, husband, poet, and farmer. Robert was an incredibly gifted man who wrote many famous poems. Robert Frost, a great American poet lived a humble life and changed the world with his profound writing ability. LIFE OF ROBERT FROST Frost was born in 1874 in San Francisco to William Prescott Frost Jr. and Isabella Moodie. After the death of his father he moved with his mother and sister to eastern Massachusetts to be closer to his†¦show more content†¦Frost then became a farmer and a poet to support his growing family and the needs and demands of everyday life. ROBERT FROST’S WRITTEN WORKS Frost is most famous for his poems. â€Å"The clarity of Frost’s diction, the colloquial rhythms, the simplicity of his images, and above all the folksy speaker† that’s what drew in his readers (The Norton Anthology). Some of his more famous poems include â€Å"The Wood-Pile†, â€Å"After Apple-Picking†, and more recognizably is â€Å"The Road Not Taken†. All of the poems are simple, and can pertain to his work on the farm. The outdoors inspired to him to write, many of his poems like â€Å"The Pasture† or â€Å"Mowing† came to him while outside. He enjoyed the outdoors because it soothed him, as did writing. The two went together for him like apples and bananas. Frost achieved an internal dynamic in his poems by combining everyday speech and line and verse (The Norton Anthology). His poems were well taken and the meaning was deep and meaningful, which is what makes a good poem. While writing Frost faced many struggles. He farmed because he needed a way of life to provide for his family. It wasn’t the ideal job, but it paid the bills. He eventually published the book of poems Into my Own, sold all of the poultry, and moved to New England with the money the poem brought in. Then he moved him and his family to England where he published â€Å"A Boy’s Will† in 1913. While in England heShow MoreRelatedThe Unnatural Life of Robert Frost683 Words   |  3 PagesThe Unnatural Life of R. Frost. One of the most humble of men to be awarded a modest four Pulitzer prizes and casually accept a Congressional Gold Medal for his works, Robert Frost arguably carried a literary movement and immortalized himself in history. While viewed as a naturalist, Frost is noted for the New England regionalism that is prevalent in his works. By acting on the world and surrendering to his poetry, Frost held a cynical mirror of bi-polarity to his world and developed it throughRead MoreThe Life Of Robert Frost ( 1874-1963 )1683 Words   |  7 PagesWhile he lived Robert Frost (1874-1963) enjoyed the recognition as an accomplished po-et. He was a multiple Pulitzer Prize recipient as well as of the honor of the Congressional Gold Medal. Considered one of the finest modernist poets of the twentieth century his poems to this day are admired for the depiction of the bucolic nature of New England and his practiced use of the everyday spoken word. Mr. Frost was born in California in later moving across the country to Lawrence, Massa-chusetts in 1885Read MoreRobert Frost s Life Through Poetry1745 Words   |  7 PagesMarch 23, 2016 Robert Frost Reflects Life Through Poetry It is easy to express your emotions, and feelings through poetry. Which is exactly what Robert Frost has done through his entire career. Each poem Robert Frost has written, has meaning behind it all. He has gone through an extreme amount of events, and tragedies in his life. Frost has been through an unimaginable amount of losses, deaths, and loneliness throughout his years. Throughout his life his poetry has had a huge impact on him, the situationsRead More The Theme of Life and Death in Birches, by Robert Frost Essay989 Words   |  4 PagesThe Theme of Life and Death in Birches, by Robert Frost The poem Birches, by Robert Frost, illustrates the authors ability to take what seems to be the mundane activities of life and turn it into something that holds a deeper meaning. The poem taken literally revolves around a boy living on the New England countryside whose only play was what he found himself, in this case, riding birch branches. The poem is very literal in language but by analyzing each line, different themes and interpretationsRead MoreRobert Frost s Writing Style1589 Words   |  7 Pages Robert Frost once said, â€Å"The figure a poem makes. It begins in delight and ends in wisdom... in a clarification of life - not necessarily a great clarification, such as sects and cults are founded on, but in a momentary stay against confusion† (Robert Frost Quotes). This same kind of thinking opened the door for metaphorical poetry that helped to show the poets transparency. His love for the social outcast and the struggles of his life are exhibited greatly in his poems. Robert Frost helpedRead MoreEssay about Biography of Robert Frost1222 Words   |  5 PagesBiography of Robert Frost Robert Frost is perhaps one of Americas best poets of his generation. His vivid images of nature capture the minds of readers. His poems appear to be simple, but if you look into them there is a lot of insight. Robert Frost spoke at John F. Kennedys inauguration. He is the only poet to have had the opportunity to speak at a presidential inauguration. Through his poetry people learn that Robert Frost is a complicated and intellectual man who has a place in manyRead MoreEssay about Analysis of the Poems of Robert Frost1316 Words   |  6 Pagesthan Robert Frost. Robert Frost is a poet that is well known for his poetic contributions to nature, as well as his award winning poems. His poetic ability and knowledge make him an extraordinary author. His past; including schooling, family, and the era in which he wrote influenced nearly all of his poems in some way. This very famous poet contributed to the modernism era, had a family and an interesting life story, and a unique poetic st yle as well. The literary era in which Robert Frost wroteRead Moreâ€Å"New Hampshire† By Robert Frost1056 Words   |  5 Pages Robert Frost’s â€Å"New Hampshire† is not only is one of his longest poems but it also shows many different ideas that Frost may have had during his time in New Hampshire. The ideas presented in this poem range from poem styles to differences between states, advantages of being in New Hampshire, and even glimpses into the life of Robert Frost. The differences between the states Frost describes is obvious in this poem. Frost â€Å"[switches] back and forth between people the speaker has met and the conclusionsRead MoreRobert Frosts Stay against Confusion766 Words   |  3 Pages Term Paper: Robert Frost’s Stay against Confusion Robert Frost’s poetic techniques serve as his own â€Å"momentary stay against confusion,† or as a buffer against mortality and meaninglessness in several different ways; in the next few examples, I intend to prove this. Firstly, however, a little information about Robert Frost and his works must be provided in order to understand some references and information given. Robert Frost is an iconic poet in American literature today, and is seen as oneRead MoreBiography of Robert Lee Frost Essay650 Words   |  3 PagesBiography of Robert Lee Frost Biography of Robert Lee Frost A poem begins with a lump in the throat, a home-sickness or a love-sickness. It is a reaching-out toward expression; an effort to find fulfillment. A complete poem is one where an emotion has found its thought and the thought has found the words Robert Lee Frost once said. Robert Frost is widely admired and recognized for his literary works. He was an honored poet of the twentieth century. Frost may have lived a troubling life, but that

Poverty in Africa Free Essays

Africa – At the dawn of a new millennium, the continent that some say witnessed the birth of the first human civilizations — may be dying. As widespread drought, starvation and the unchecked spread of deadly diseases continue — the numbers of people dying on a daily basis throughout Africa is staggering. Causes of poverty in Africa In many parts of Africa, the production of food depends upon the intense manual labor of every family. We will write a custom essay sample on Poverty in Africa or any similar topic only for you Order Now When large areas of Africa are dislocated by war, or adults die from the scourge of AIDS, fields cannot be worked, and food cannot be produced. Many, especially women and children are forced to depend upon hand outs of food. Unpredictable weather can also aggravate the situation. The majority of the poor population in Western and Central Africa (about 100million people) are poor farmers who live in villages and farm just to feed themselves and their families. They depend mostly on agriculture for their livelihoods. However, about one in every five of these people live in a country affected by warfare. War destroys families and farms leaving most people with nothing at all but extreme poverty and starvation. Famine follows wars in most cases in Africa. poverty in Africa In conflict-torn countries such as Angola, Burundi, Mozambique, Liberia, Ethiopia, Sudan, Congo, Sierra Leon, and Uganda, the capacity of rural people to make a livelihood has been dramatically curtailed by warfare, and food production has plummeted. Lack of good drinking water Lack of good drinking water is another major problem in almost all African villages especially in desert countries like Niger, Sudan and Mali. Water is very scarce and lack of good drinking water is a major problem in Ethiopia and surrounding countries where most people and farm animals share same water sources. Children walk miles upon miles everyday to nearby streams to fetch water. Although there are many rivers and streams in the Western, Central, and Southern parts of Africa, good drinking water is a major problem in these areas. Most of the water sources in these areas are infested with water related diseases such as bilharzia, sleeping sickness, river blindness, guinea worm disease ( guinea worm disease is a major problem in Northern Ghana. 2010) and ofcourse malaria. Besides these, diseases such cholera, typhoid fever, dysentery and pneumonia continue to kill children in record numbers. Facts of poverty in Africa: †¢315 million people – one in two of people in Sub Saharan Africa survive on less than one dollar per day †¢184 million people – 33% of the African population – suffer from malnutrition †¢During the 1990s the average income per capita decreased in 20 African countries †¢Less than 50% of Africa’s population has access to hospitals or doctors †¢In 2000, 300 million Africans did not have access to safe water †¢The average life expectancy in Africa is 41 years †¢Only 57% of African children are enrolled in primary education, and only one of three children complete school †¢One in six children die before the age of 5. †¢Children account for half of all civilian casualties in wars in Africa †¢The African continent lost more than 5,3 million hectares of forest during the decade of the 1990s How to Help our continent †¢Having more educated women with greater rights could make the single biggest positive difference to reducing poverty, the rate of childhood diseases and death and the spread of AIDS in developing countries. †¢Reduce child mortality Thirty years ago, one in five children in the world died before their fifth birthday. This has now been halved to less than one in ten. Better access to vaccinations and other basic health services and improved living standards have contributed to a steep decline in global deaths among infants and children over the past 30 years. †¢Improve maternal health Every year, more than half a million women die from complications in pregnancy or childbirth. Almost all of them would still be alive if they had access to a skilled midwife or doctor in childbirth and effective emergency care for women who have complications. †¢Combat HIV and AIDS, malaria and other diseases In Africa, in 2003, some 26.6 million people were living with HIV, 3.2 million people became infected, and AIDS killed 2.3 million. †¢Develop a global partnership for development The targets in the global partnership for development millennium development goal include a fairer trading and financial system. Getting rid of barriers to trade could lift almost 300 million people in the developing world out of poverty. How to cite Poverty in Africa, Essay examples Poverty in Africa Free Essays Poverty in Africa More than 800 million people fall asleep starving every day, and 300 million of those 800 are only children. Poverty is a global crisis, something that affects many in a horrible way. â€Å"Poverty is going empty, with no hope for the future. We will write a custom essay sample on Poverty in Africa or any similar topic only for you Order Now Poverty is like watching your mother father, brothers and sisters die in pain and in sorrow just because they couldn’t get something to eat. † Poverty has been around for ages, and will always be around. It is always there and will always be a problem. It could have been avoided, and can be treated if we follow the Gospels. The Gospels have many parables and teachings about the poor, and we can link that to poverty today. Poverty affects many children in Africa. In Africa 40 to 70% of the population lives in slums, and the child mortality rate in those slums is 65% higher. The children in these slums live a terrible life. Here in Canada, we have houses and apartments, condos and duplexes; all of these living conditions are fine. Some people complain their house is too small, or they have to share a room. Imagine having no room to share or no house at all. When people complain about having a small house, they should imagine living in an overcrowded shack with no floors, no water, and no electricity. People in Africa have to live in those shacks. The church teaches us many helpful things. Jesus stands on side of the poor, and so must we. If we all put the needs of the poor in front of our own needs, we would not have children starving to death in Africa. The Rich Young Man (Matthew 19:16-30) is about a man that asks Jesus for eternal life, and what he will have to do to get it. Jesus asks tells him to sell all his possessions and give the money to the poor, the man sighs. Jesus also tells the man to follow the 10 commandments. The religious truth is to follow the 10 commandments and to be kind, and donate to the poor. The Judgement of the Nations (Matthew 25:31-46) is about the Lord separating the good people from bad. He tells the good thank-you for caring about him, and he tells the bad they did not help him. Both groups question and say they did nothing to him. God then says the good people did something for the poor, and the bad people did nothing for the poor. The religious truth in this is to treat the poor as if they are God. Poverty is a huge problem and it can be treated, and could have been avoided. If we followed the Gospels, and we followed what God told us to do, we wouldn’t have this problem. People are very ignorant, and think for themselves. If we all gave 5% of our pay checks to starving children it would make a huge difference. Even if everyone follows the 10 commandments, poverty would improve. The world is full of billions and billions of people live in the world today, and if even a third of those billions tried to help poverty we would see a difference. People need to start thinking about the poor more. We should all treat the poor, as if they are God. We should act as if each of those starving children we’re a piece of God. If someone saw God starving and in pain, they would help him. With poverty, it should be the same way. We should see people who are hungry, or even know of people who are hungry, and we should help them in some way. The Gospels teach us this, and many people read the Gospels, so why don’t people do it. People should do what the Gospel’s say and we would have a lot less people who are dying, and starving. How to cite Poverty in Africa, Papers

Notes Apush Chapter free essay sample

Percent Plan, he proposed that as soon as 10 percent of the voting population in the 1 860 election took an Oath and established a government, it would be recognized. Replaced majority with loyal rule, promised pardons to ex;confessed B. Congress and the Wade-Davis Bill Congress was not happy Lincoln didnt consult them. Responding negatively to Lincoln Reconstruction plan, Thatched Stevens advocated a conquered province theory, the South waged war as a foreign nation, thus, they should be treated like one, and Charles Sumner advanced a state suicide theory. In July 1 864, Congress passed the Wade-Davis bill by which the process of readmission to the Union was to be harsh and slow. Lincoln pocket-vetoed the bill. Wade-David Bill- To reenter the Union 1. A majority of white males had to participate in government 2. To vote or be a delegate in Constitutional conventions they had to take an ironclad (oath saying they never supported the confederacy) 3. All ranks above Lieutenant couldnt become citizens of the United States C. Thirteenth Amendment and the Freedmans Bureau Congress passed the Thirteenth Amendment on January 31, 1865. On March 3, 1865, Congress created the Bureau of Refugees, Freedmen, and Abandoned Lands to aid southern refugees- provided food, medical services, schooling, and jobs for refugees. Petitions were started by women and the public, the amendment outlawed involuntary slavery and said the govern couldnt change it The landscape was in ruins along with the economy, many families faced starvation Ill. The Meanings of Freedom A. The Feel of Freedom Many former slaves began to explore freedom by searching for family members or exercising their right of mobility.Others reacted more cautiously. Most settled as workers on their former farms or plantation but attempted to control the conditions of their labor. B. Reunion of African American Families Relying on the black community in the South, thousands of former slaves began odysseys to find family members. Ads were put in the papers. C. Blacks Search for Independence Many blacks tried to avoid contact with overbearing whites by abandoning their slave quarters and relocating their houses. Some even established all black settlements. They wanted the sense of freedom D.African Americans Desire for Land Next to freedom, blacks wanted land most of all. Since they could not secure solid support in the North, however, few obtained their dream of independence. Blacks were given land but President Johnson took it away and eve it back to the Whites. They wanted a secure promise the land would still be theirs after they cultivated it E. The Black Embrace of Education Many African Americans eagerly sought an education. They paid $1-1. 50 a month for education if needed. They really wanted to learn. Federal aid and northern charity helped start thousands of schools for freedmen in the South. Many black leaders were very well educated; they established many universities and colleges alongside the whites. F. Growth of Black Churches In an effort to gain more independence from whites, African Americans established their own churches, which became the social center of their new freedom. Black establishments used to be hidden; now they could freely worship. The church was the wealthiest institution in Black life. G. Rise Of the Sharecropping System Blacks could not get credit, and sharecropping became widespread.Sharecropping was where the landowner would receive payment by the crop grown on their land, usually half would be given to them and the other half would be for the black farmer. Owners often cheated their tenants. The main crop was cotton which lost its value IV. Johnnys Reconstruction Plan A. Who Was Andrew Johnson? Johnson was the only senator from a seceded state (Tennessee) who refused to follow his state out of the union. At heart he was really a Jackson Democrat, not a Republican. He believed in limited government and was a white supremacist. As a senator he favored the small farmers over the aristocrats. B.Johnnys Leniency and Racial Views Johnnys believable black suffrage could never be imposed on a southern state by the federal government put him on a collision course with the Radical Republicans. C. Johnnys Pardon Policy Johnson hoped to keep prewar leaders from participating in the Reconstructed South. Nevertheless, he ended up pardoning most of them and thus restored the old elite. People had to apply directly to Johnson for pardoning. He appointed his own governors to keep the old ones out of power. Only southerners who took the oath of loyalty could vote for or against reconstruction so there was little opposition in the votes.Unpardoned men and former slave couldnt vote. Many former elites were returned into power, even the UP of the confederacy D. Black Codes Johnnys pardons upset many Republicans, but the discriminatory black codes revealed the depth of southern defiance. Blacks had to abide by the rules of their landowners, almost returning them to their slave status. V. The Congressional Reconstruction Plan Congress had the power of admission of states. They believed they had the right to change and alter the reconstruction plans. What was the relationship between the South and Union now that the war happened?Conservatives believed that the South was conquered and it was subject to the rule of the conquering country. A. The Radicals The Radicals wanted to transform the South, and they were willing to exclude it from the Union until they had achieved their goal. By refusing to work with noncreative and moderate Republicans, Johnson and the Democrats forced them to work with the Radicals. B. Congress Wrests Control from Johnson Congress worked to extend the Freedmans Bureau and to pass a civil rights law counteracting the black codes. Johnson vetoed these bills, ending hopes of compromise. This showed Johnnys own racism against colored people C.The Fourteenth Amendment This amendment gave citizenship to freedmen, prohibited states from interfering with constitutional rights, declared the Confederate war debt null and void, barred Confederate leaders from holding state and federal office, ND punished any state that restricted extension of the right to vote to black men. This was a major move in African American rights. It excluded women altogether in the right to vote and gained much protest from womens rights groups. D. The Souths and Johnnys Defiance, 1 866 At the urging of President Johnson, all southern states except Tennessee rejected the Fourteenth Amendment.Having won overwhelmingly in the 1 866 congressional elections, Republicans decided to form new southern state governments. Johnson personally went and spoke about how Radicals were traitors for taking over reconstruction E. The Reconstruction Acts of 867-1868 Congress set up five military districts in the South, guaranteed freedmen the right to vote in elections for state constitutional conventions, required congressional approval of all new state constitutions, and declared that southern states must accept the Fourteenth Amendment. First Reconstruction Act admitted all states back into the Union. F. The Failure of Land Redistribution Thatched Stevens (radical) failed to win approval for his plan to confiscate and redistribute land in the former Confederate states. G. Constitutional Crisis Congress passed a number of controversial laws, including the Tenure of Office Act (gave the senate the power to approve changes in the presidents cabinet), by overriding presidential vetoes. Johnson proceeded to take several belligerent steps, including removal of Secretary of War Stanton and giving power to civil governments and the military. These all got vetoed by Johnson then overridden by a 2/3 vote in congress..Congressional tyranny? H. Impeachment of Prestidigitation After Johnson removed Secretary of War Stanton, Congress impeached the president. This had been tried twice before. Although acquitted in the Senate, Johnson suffered politically. L. Election of 1 868 Grant, a supporter of congressional Reconstruction and of black suffrage in the South, won the 1868 presidential election against Horopito Seymour. Republicans supported congressional reconstruction and black suffrage in the South where Democrats supported white supremacy and denounced reconstruction J.Fifteenth Amendment In 1 869, Radicals succeeded in passing the Fifteenth Amendment, which prohibited denying the right to vote based on race, color, or previous condition of servitude. Voting rights of women could still be denied and other tests could be enacted to deny voting to other groups. With this many saw reconstruction as finished. VI. Reconstruction Politics in the South A. White Resistance Whites in the South resisted Reconstruction. Some denied freedom to their slaves, while others prevented blacks from getting land. B. Black Voters and Emergence of a Southern Republican party Thanks to a large black voter turnout and restrictions on prominent Confederates, a new southern Republican Party controlled the state constitutional conventions of 1868-1870. C. Triumph of Republican Governments Republican victory in the South meant that for the first time black citizens gained political office. Southern Republicans worked to build white support for the party. D. Industrialization Republican governments tried to industrialized the South, but higher taxes for that purpose drew money away from education and other reforms.E. Republican Policies on Racial Equality Economic progress remained uppermost in the minds of most southern blacks. They accepted segregated facilities in return for other opportunities. F. The Myth of Negro Rule Southern Conservatives used economic and social pressure on blacks as well as inflammatory racist propaganda to undermine congressional Reconstruction. G. Carpetbaggers and Scalawags In their propaganda, Conservatives labeled northerners seeking economic opportunity as carpetbaggers and white southerners who supported the Republicans as scalawags. H. Tax Policy and Corruption as Political Wedges Although an increase in taxes was necessary just to maintain traditional services, Republican tax policies aroused strong opposition. The corruption with which Republicans were charged was often true. L. UK Klux Klan The UK Klux Klan terrorized black leaders in an effort to curb their support for the Republicans. J. Failure Of Reconstruction A number of things brought about the collapse of the Republican regimes, forcing them out of office before they instituted social and economic reforms.