The Gilded Age

1. The Gilded Age Pages 518-543

2. Paupers and Millionaires • A period spanning from the end of Reconstruction to the turn of the (20th) century • Mark Twain and Charles Dudley Warner coined the term, Gilded Age • In 1873, they published the novel The Gilded Age • Greed • Corruption • Poverty • Dishonesty • Excessive extravagance and wealth concealed mounting social problems • The balance between the “haves” and the “have nots”

3. Segregation and Social Tensions • African Americans lost rights • Period of time from 1877 – mid 1960s very, very difficult • Jim Crow Laws • KKK • Lynching • South very slow to recover economically • African-American Leaders • Booker T. Washington—vocational education • W.E.B. DuBois—full equality; full educational rights • Ida Wells—crusade against lynching; southern horror of legalized murder • Chinese Immigrants faced discrimination on the west coast

4. Segregation and Social Tensions • Mexican-Americans struggled in the southwest and west • After Mex-Amer War, 4/5 Mex-Amer in New Mexico lost their land • Las Gorras Blancas—land rights • Alianza Hispano-Americana—protect culture, interests, and legal rights of all Mexican-Americans • Women continued to fight for their rights • Susan B. Anthony—1869 National Women’s Suffrage Association • Fought for a Constitutional amendment that would grant women the right to vote • 1872. Anthony cast a vote illegally in Rochester, NY. She was tried, convicted, and fined

5. Review Presidents • Ulysses S. Grant 1869-1877 (end of Reconstruction) • Rutherford B. Hayes 1877-1881 (a Rep from Ohio) • James Garfield March 4, 1881- Sept. 19. 1881 (Elected president after serving 9 consecutive terms in the House. Advocated civil rights fro African Americans. Assassinated by Charles Guiteau, a disgruntled federal office seeker) • Chester Alan Arthur Sept. 19, 1881- Mar. 3, 1885 (Garfield’s VP) • Grover Cleveland (Dem) 1885-1889 and 1893-1897 • Benjamin Harrison 1889-1893

6. Political Corruption • Spoils System--also known as a patronage system,is a practice where a political party, after winning an election, gives government jobs to its supporters, friends and relatives as a reward for working toward victory, and as an incentive to keep working for the party —as opposed to a merit system, where offices are awarded on the basis of some measure of accomplishment, independent of political activity • Assassination of President Garfield • Civil Service System

7. Weak Presidents • Lacked integrity • Rutherford B. Hayes won owed the election of 1876 to a secret deal • Benjamin Harrison lost the popular vote, but won the electoral college vote • Chester Arthur, Garfield’s VP, failed to win his party’s nomination in 1884 • Grover Cleveland maintained a reputation for integrity • In 1888, he won the popular vote, but lost the electoral vote. Lost to Benjamin Harrison • Came back to win again in 1892

8. Real Power NOT in Government • John D. Rockefeller • Co-founder Standard Oil • Andrew W. Mellon • Lumber, coal, banking, oil, steel, shipbuilding and construction • Andrew Carnegie • Steel industry • J.P. Morgan • Financier and Banker • Cornelius Vanderbilt • Railroads and shipping • Robber Barons—wealthy industrialists and businessmen who amassed their fortunes through exploitive practices • Exploiting natural resources • Exploiting government influence • Exploiting cheap labor • Squashing competition • Creating monopolies • Stock sales schemes

9. Economic Conflict • Robber Barons dominated business, industry and government • Tariff Debate—tax on imported goods enacted to protect emerging industries during the industrial revolution • Election of 1888 • Republicans claimed high tariffs necessary to protect American business • Democrats claimed high tariffs increased the costs of good to consumers and made it difficult for American Farmers to sell their goods abroad • Monetary Policy—gold v. silver “money” coins

10. Free silver • Free coinage of silver vs. gold standard • Bimetallism—both gold and silver currency at a ratio of 16 to 1 (16 oz. of silver would be worth 1 oz. of gold) • But, the actual ratio was 32 to 1 • Inflationary—would result in higher prices • Panic of 1893 • Falling prices • High unemployment • Severe distress for farmers • Pro-gold establishment of NE (railroads, factory owners, businessmen) Vs. poor farmers • Free Silver remained an issue through 1896 when country moved to the gold standard

11. Populism • Following the Civil War, migrated West in search of the American Dream. However, in the late 1880s, that dream began to turn into a nightmare which sparked a social and political revolt known as Populism • Millions of ordinary Americans • Poor farmers • Small landowners • Urban workers • Resulted in one of the largest 3rd party movements in American history

12. Falling Prices and Rising Debt • Between 1870 and 1895 prices for agricultural goods plummeted—overproduction • Cotton from 15 cents/lb. to 6 cents/lb. • Corn and wheat prices declined rapidly as well • In the early 1890s, it cost farmers more to produce their crops than the crops were worth on the open market • Burned crops as fuel • At the same time, the cost of doing business rose significantly • Farmers borrowed money to stay afloat • Mortgaged their farms—no longer owned the land they worked

13. Big Business Practices • Railroads created monopolies • Charged high rates to transport goods • Banks charged high interest rates • Southern share-croppers also faced the added challenge of dishonest merchants and landlords • Endless cycle of debt

14. Nation Turns its Back • Long tradition of electing leaders from farm states • Loss of power • Most leaders at this time came from industrial, urban centers • Farmers felt abandoned • Oliver H. Kelley—The Grange • An organization of farmers with the goal of providing education and • Lobbying for legislation to control railroad and grain elevator rates

15. Farmer’s Alliances Formed • Formed Cooperatives to sell their crops • Advocated for easy loans with low-interest rates • Organized boycotts against manufacturers who inflated prices of materials farmers needed to produce their crops • Demanded increased government regulation of business • Some of the more powerful alliances: • Southern Farmers Alliance • The Georgia Alliance • The Colored Farmers Alliance • Shared many of the same struggles, but racial tensions prevented cooperation

16. Populist Party the People’s Party • Grassroots political organization—from local government up • Their Platform, Omaha, Nebraska July 1892 • Problems: • Political corruption • Inadequate monetary supply • Unresponsive government • Remedies: • Free Silver—the coinage of silver • Government ownership of Railroads • Political Reform • Women’s suffrage • Did well in election of 1892

17. Decline of Populism • Free Silver the central issue for Democrats in the elections of 1896 and 1900 • William Jennings Brian (Democrat) Populists endorsed him in 1896 • Very compelling “Cross of Gold” speech • He actively campaigned around country • McKinley let his party and people handle his campaign • McKinley defeated Brian twice (1896 and 1900) • End of the Populist Party • Trivia—why is Denali called Mt. McKinley? • In 1896, a gold prospector named it McKinley as political support for then-presidential candidate William McKinley, who became president the following year. McKinley supported the gold standard