The Gilded Age

1. The Gilded Age 1865-1904

2. “Gilded Age” Why is it called “gilded” instead of “golden”?

3. Why is this called the “Gilded Age”? Mark Twain • The Gilded Age: A Tale of Today 1873, Twain engages in social commentary concerning the state of our fast changing cities. • Why does Twain refer to it as the “Gilded Age” as opposed the “Golden Age” ? • Twain refers to this as a “Gilded,” as opposed to Golden, Age, meaning the prosperity and culture that is seen is only on the surface and major problems lurk beneath the surface.

4. A. Industrialization

5. Industrialization

6. Age of Prosperity…for some… Captain of Industry…or…Robber Baron? JP Morgan Carnegie Vanderbilt Rockefeller

7. Robber Barons Captains of Industry Businessman whose way of making a personal fortune contributes positively to the country in some way. (increased productivity, expansion of markets, providing more jobs, or acts of philanthropy) Businessmen who dominated their industries and made huge personal fortunes, typically as a direct result of pursuing various anti-competitive or unfair business practices

8. I. Rockefeller. Vanderbilt. Carnegie. They have often been condemned as "robber barons" for their selfishness and ruthless business methods, for exploiting their workers, and forcing their rivals out of business. At the same time, their critics have acknowledged that they also benefited the nation. They were responsible for building new industries, introducing more efficient organizational methods, and providing opportunities that enabled many people to invest their savings in the new industries springing up all over the nation.

9. Opulence! Extravagance!

10. B. Government Policies Favored Industrialists • High Tariffs • Laissez-Faire • Incentives • New Industries

12. C. Urbanization

13. URBAN R U R A L

14. D. Rollercoaster Economy • Growth…depression… growth… depression… • Two economic depressions • Impact on agriculture

15. Ups and Downs of the Economy • 1865-1900, the US economy went through periods of growth and depressions, due to tariff and currency policies. • Major depressions occurred in 1873 and 1893. • Farmers were especially hard hit. Since the US put high tariffs on imports, Europe refused to buy our agricultural products.

16. Rollercoaster Economy

17. E. Growth of Poverty • Working poor increased • Flight to the cities • Increased farm production…a bad thing?

18. F. From Cottage Industries to Factory System Manufacturing that took place in people’s homes. • Mass production • Use of unskilled workers • Family in the workforce

19. G. Government Incentives for Westward Expansion • Manifest Destiny • Western industries • Indian Policies • Promote settlement

20. H. Rise of Mass Media • New technologies in printing • circulation increased • Investigative journalism-Muckrakers! • Wrote to expose evils in society & business • Magazines & Newspapers • Mail-order catalogs circulate • Mass production of goods allowed for some (rich and middle class) to spend their wealth in department stores.

21. MUCKRAKERS

22. I. Burst of Innovations & Inventions

23. J. Laissez-faire Government Federal government did not get involved in the affairs of business except to protect private property rights, maintain peace, or promote expansion. I’m Staying out of it!!

24. Who did not share in the prosperity? • Minorities • Immigrants • Workers • Farmers • …most Americans

25. Elaborate U2 L1 The Gilded Age