As rapidly as possible, the competent men, who had learned their duties in the face of the enemy, were displaced and their positions taken by these carpetbaggers.
Many societies soon became targets of speculative carpetbaggers, who opened savings accounts in order to obtain a windfall, in cash or shares, in the event of demutualization.
However, once they had power, the extravagant spending of the carpetbaggers proved to be a wedge issue between the two groups, and factions developed within the party.