Beginning in 1870 and ending in 1900, the Gilded Age was a period of industrial growth and economic prosperity followed by the Progressive Era. Inventors and industry prospered, new job opportunities were formed, anybody had the chance to become successful. America began to urbanize, migrants and immigrants moved to cities to find work. While there were pros of the Gilded Age, there were also cons; corrupt politics, robber barons and unequal distribution of wealth were just a few of the issues of the Gilded Age. The Gilded Age was a period of corruption, greed, and poverty caused by rapid industrial growth necessary for the future of a modern America.
Gilded Age, a name coined by Mark Twain in The Gilded Age, a book written by him and Charles …show more content…
“Captains of industry” was another name used since the personal wealth gained by these men helped lead the United States into an industrial age. Known for their illegal methods, robber barons formed monopolies by buying out all of their competition, bribed politicians, and took advantage of the stock market. Jay Gould used the railroad to his advantage, he bought stocks in order to take control and then threatened his competitors until they had no choice but to buy the stocks at high prices. Gould along with Jim Fisk got involved in a fight with Cornelius Vanderbilt to control the Erie Railroad. Stock were watered down and judges were bribed, eventually, Vanderbilt lost the battle and surrendered. After the Erie War, Gould constructed a plan to corner the gold market. September 20, 1869, Black Friday, the value of gold dropped, people lost their fortunes and railroad stocks lost value. Other notable robber barons include John Rockefeller, J.P Morgan, and Andrew Carnegie. While robber barons were favored corrupt practices, many donated money towards charitable …show more content…
Ward leaders, commonly small business owners, worked for the boss on a neighborhood level managing the patronage system. Through the patronage system, city jobs and contracts were handed out in trade for political support. Help was administered to residents when they needed assistance, food, jobs, and legal assistance was often provided. Machines were popular in urban areas since they provided needed services such including sewage and street maintenance. Typically, machines were corrupt, boss Tweed’s New York’s Tammany Hall “cheated the government out of an estimated $30 million to $200 million before he was finally prosecuted in 1873. Tweed was convicted on more than 200 misdemeanor counts.” Political machines were not critical, they did not judge a persons race or origin, machine politics appealed to the poor and urban dwellers because they provided helpful services that the government would not. While machines did provide positive services that appealed to the poor, they relied on fraudulent methods as well as bribery to
Gilded Age, a name coined by Mark Twain in The Gilded Age, a book written by him and Charles …show more content…
“Captains of industry” was another name used since the personal wealth gained by these men helped lead the United States into an industrial age. Known for their illegal methods, robber barons formed monopolies by buying out all of their competition, bribed politicians, and took advantage of the stock market. Jay Gould used the railroad to his advantage, he bought stocks in order to take control and then threatened his competitors until they had no choice but to buy the stocks at high prices. Gould along with Jim Fisk got involved in a fight with Cornelius Vanderbilt to control the Erie Railroad. Stock were watered down and judges were bribed, eventually, Vanderbilt lost the battle and surrendered. After the Erie War, Gould constructed a plan to corner the gold market. September 20, 1869, Black Friday, the value of gold dropped, people lost their fortunes and railroad stocks lost value. Other notable robber barons include John Rockefeller, J.P Morgan, and Andrew Carnegie. While robber barons were favored corrupt practices, many donated money towards charitable …show more content…
Ward leaders, commonly small business owners, worked for the boss on a neighborhood level managing the patronage system. Through the patronage system, city jobs and contracts were handed out in trade for political support. Help was administered to residents when they needed assistance, food, jobs, and legal assistance was often provided. Machines were popular in urban areas since they provided needed services such including sewage and street maintenance. Typically, machines were corrupt, boss Tweed’s New York’s Tammany Hall “cheated the government out of an estimated $30 million to $200 million before he was finally prosecuted in 1873. Tweed was convicted on more than 200 misdemeanor counts.” Political machines were not critical, they did not judge a persons race or origin, machine politics appealed to the poor and urban dwellers because they provided helpful services that the government would not. While machines did provide positive services that appealed to the poor, they relied on fraudulent methods as well as bribery to