Page "Mark Hanna" Paragraph 12

In the 1868 presidential election, Hanna supported the Republican, former Union General Ulysses S. Grant.

The flood of inflationary greenback currency issued during the war made Rhodes and Company's dealings in the new confederation of Canada difficult ; merchants would accept a dollar in paper money as the equivalent of 35 cents in gold.

Hanna hoped that Grant, who was elected, would institute policies which would return full value to the currency.

The firm built many vessels and also gained interests in a wide variety of firms, which in turn used the Rhodes steamers.

Hanna also purchased Cleveland's opera house, allowing it to remain open at times when it could not pay its full rent.