What Was the Patronage System and How Did It Evolve

question 43

Essay

What was the patronage system and how did it evolve? What were the positive and negative aspects of the system? For what reasons was it ultimately reformed?

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Definitions:

Invest

The act of allocating resources, usually monetary, in the expectation of generating an income or profit.

Annual Return

The percentage change in an investment's value over a one-year period, including dividends or interest.

Education Fund

A savings or investment account set up for the purpose of paying for educational expenses.

Total Value

The overall financial value of an entity or asset, calculated by summing all components of worth.