“The Gilded Age,” was a term coined by the author Mark Twain hinting that times looked good, yet if one scratched a bit below the surface, there were problems. Photograph (1871)
Despite the Civil War, the population still grew, partially due to immigration. During this time, politics became very corrupt. Stock-market investors were unethical Too many judges and legislators put their power up for hire.
Federal government had a hands-off approach towards businesses. NO regulation or interference in business practices Reflected a belief in social Darwinism The best-run businesses led by the most capable people would survive and prosper.
The infamous Tweed Ring (AKA, “Tammany Hall") of NYC, headed by “Boss” Tweed, employed bribery and fake elections to cheat the city of as much as $200 million. Thomas Nast, political cartoonist, constantly drew against Tammany’s corruption.
The 51st, or “Billion Dollar” Congress—one that legislated many expensive projects The Populist Party emerged in 1892 from disgruntled farmers. They called for items including: a graduated income tax, government regulation of railroads and telegraphs/telephones, a one term limit, a shorter workday, and immigration restriction.
One thing I know about the government during the Gilded Age is… One connection between the Gilded Age and politics today is… One question I still have is…
Depression of 1893: First such panic in the new urban and industrial age, and it caused much outrage and hardships. About 8,000 American businesses collapsed in six months.
President Cleveland was embarrassed at having to resort to J.P. Morgan (capitalist/NYC businessman) to bailout the depression (government). Further, the Supreme Court struck down an income tax. Rich can get richer. It looked like all politicians were tools of the wealthy.
Industrialists amass great fortunes Poor workers living in extreme poverty and experiencing awful working conditions