1. The American Promise: A History of the United States Fourth Edition
CHAPTER 18
Business and Politics in the Gilded Age
1870–1895

2. Old Industries Transformed, New Industries Born
Railroads: America’s First Big Business
Largest railroad network – 193,000 miles – first big business – federal, state, and local government funds
Jay Gould and his competitors – stocks – “pools”
Andrew Carnegie, Steel, and Vertical Integration
Pittsburgh – control of every aspect of steel business – cut costs to boost productivity – exacted from workers – low wages and dangerous working conditions
John D. Rockefeller, Standard Oil, and the Trust
Controlled 9/10s of oil business – established Standard Oil Company – undercut competition – rebates from railroads – trusts – stocks in various refinery companies – govt. opposition – holding company – 90% of oil business – Ida B. Tarbell - McClures

5. Old Industries Transformed, New Industries Born
Mass Marketing, Advertising, and Consumer Culture
Railroad catalyst for industrial revolution - new entrepreneurs Gustavus Swift, John Henry Heinz – new products – Campbell Soup, Quaker Oats – consumer culture with new products and aggressive advertising
New Inventions: The Telephone and Electricity
Alexander Graham Bell – Thomas Alva Edison

6. From Competition to Consolidation
J. P. Morgan and Finance Capitalism
J. P. Morgan – American Banking - “money trust” – General Electric – U. S. Steel – over capitalization – short term profit instead of long-term innovation and growth – acquired Carnegie Steel – corporate consolidation
Social Darwinism and the Gospel of Wealth
Charles Darwin, Herbert Spencer , William Graham Sumner
Justification for economic inequality – “The Gospel of Wealth”
Laissez-Faire and the Supreme Court
No interference of government in economic affairs
Conservative Supreme Court and laissez-faire

8. Kerosene Lamp

10. Politics and Culture Political Participation and Party Loyalty
Spoils System
Party affiliations – spectacle
Religion
Sectionalism and the New South
Old Confederate South – changed with migration to cities
industrialization
Gender, Race, and Politics
Suffrage for African American males – no elimination of racial barriers with women’s issues - lynching
Women’s Activism
Stanton and Anthony – National Woman Suffrage Association – Woman’s Christian Temperance Union

12. Presidential Politics
Corruption and Party Strife
Political corruption –party factionalism – political reform
Party bosses – Roscoe Conkling – “Stalwarts
James G. Blaine – “Mugwumps” and Half-Breeds”
Hayes between reform and spoils men
James A. Garfield and Chester A. Arthur
Garfield’s Assassination and Civil Service Reform
Garfield assassinated by Charles Guiteau – attach on Spoils System – Pendleton Civil Service Act of 1883
Reform and Scandal: The Campaign of 1884
Republican candidate - Blaine – Democratic candidate – Grover Cleveland – campaign of mudslinging and scandals – negative publicity against Union and Catholicism – Cleveland wins

13. “Another Voice for Cleveland”

15. Economic Issues and Party Realignment
The Tariff and the Politics of Protection
Republicans reduced tariffs, later increased – farm and non farm sector differences
Railroads, Trusts, and the Federal Government
Need for regulation of railroads and action against trusts - Interstate Commerce Act – Sherman Antitrust Act -
The Fight for Free Silver
Gold v. silver – 1873 Congress voted down minting and purchase of silver – 1890 Silver Purchase Act – 1893 SPA repealed - gold standard
Panic and Depression
Silver issue led to panic and depression