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 …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 …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