The theme I find the most prevalent in the change in the role of government between the Gilded Age and end of the 1920’s was the government interaction with the economy. From President Grant to President Coolidge we went from a government that had absolutely no involvement in the economy what-so-ever to one that had a significant amount of regulation over it. I believe the driving force behind this was President Woodrow Wilson signing off on the Federal Reserve Act in December of 1913. This act gave the government power over the amount of currency in circulation. This is a big jump from the Laissez Faire government from the gilded age.
In roughly the 1860’s the government started its Laissez Faire campaign, slowly overtime as the progression of industrialization came about the Laissez Faire lifestyle became more and more unreasonable. Progressivism started to make a big impact in society which led to an advancement in agriculture and transportation nationwide. Transportation became astonishingly easier with the railroad industry rising up and creating a monopoly which in turn created more monopolies in other industries such as steel. Men such as J.P. Morgan, John D. Rockefeller, and Andrew Carnegie became giants of industry with these monopolies while their employees fell onto rough work conditions and unimaginable hours. This sparked the start of unions and strikes which most often the government brought to a halt and sent the employees back to work. These employees began to fall into poverty. This was creating a depression in the economy, the rich were getting richer and the poor were getting poorer. The Government did not really become involved in the economy until it began booming with industrialization. Suddenly agriculture was easier, transportation was easier, and cities were booming with industrial jobs available for citizens moving in, ultimately the economy began to take off. With …show more content…
It is the single most important law in the controlling of our countries financials. Leading up to the passing of this act there was much crises amidst the rapid industrialization across the country, investors were insecure about their financing. The central bank was sought to achieve a stable source of currency and resolve the concerns as it is authorized by congress. The irony in the situation is that one of the hidden reasons behind the American Revolution was to escape the binds of the central bank of Great Britain. In passing this act the government took over the responsibility of the circulation of the money in the United States. In my personal opinion this was the finishing blow in getting away from the Laissez Faire or “hands off” government and economy that had previously run the …show more content…
The country was swept with strikes from labor unions demanding fairer wages, and hours, the largest of which being from the steel industry. These strikes, like many others in the past, failed and the employees returned to work. By the time 1922 rolled around the economy was in an uproar, industry was booming. Along with the booming industry came the introduction of mass production. Mass production changed the game forever, products were being produced faster than ever imaginable. The economy was thriving like it never had before and this brought along a social change as well that changed the American culture all together, things were looking pretty good since the government had stepped in and started to play a role in the
In roughly the 1860’s the government started its Laissez Faire campaign, slowly overtime as the progression of industrialization came about the Laissez Faire lifestyle became more and more unreasonable. Progressivism started to make a big impact in society which led to an advancement in agriculture and transportation nationwide. Transportation became astonishingly easier with the railroad industry rising up and creating a monopoly which in turn created more monopolies in other industries such as steel. Men such as J.P. Morgan, John D. Rockefeller, and Andrew Carnegie became giants of industry with these monopolies while their employees fell onto rough work conditions and unimaginable hours. This sparked the start of unions and strikes which most often the government brought to a halt and sent the employees back to work. These employees began to fall into poverty. This was creating a depression in the economy, the rich were getting richer and the poor were getting poorer. The Government did not really become involved in the economy until it began booming with industrialization. Suddenly agriculture was easier, transportation was easier, and cities were booming with industrial jobs available for citizens moving in, ultimately the economy began to take off. With …show more content…
It is the single most important law in the controlling of our countries financials. Leading up to the passing of this act there was much crises amidst the rapid industrialization across the country, investors were insecure about their financing. The central bank was sought to achieve a stable source of currency and resolve the concerns as it is authorized by congress. The irony in the situation is that one of the hidden reasons behind the American Revolution was to escape the binds of the central bank of Great Britain. In passing this act the government took over the responsibility of the circulation of the money in the United States. In my personal opinion this was the finishing blow in getting away from the Laissez Faire or “hands off” government and economy that had previously run the …show more content…
The country was swept with strikes from labor unions demanding fairer wages, and hours, the largest of which being from the steel industry. These strikes, like many others in the past, failed and the employees returned to work. By the time 1922 rolled around the economy was in an uproar, industry was booming. Along with the booming industry came the introduction of mass production. Mass production changed the game forever, products were being produced faster than ever imaginable. The economy was thriving like it never had before and this brought along a social change as well that changed the American culture all together, things were looking pretty good since the government had stepped in and started to play a role in the