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Issues of a Gilded Age

Issues of a Gilded Age. The Gilded Age. In the 1890s, 10% of Americans owned 90% of the nation’s wealth “Gilded” means gold-covered. Why would ‘gilded’ reflect the distribution of wealth in the late 19 th Century?. Homes. Wealthy. Poor. Huge mansions in the city Summer homes in country

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Issues of a Gilded Age

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  1. Issues of a Gilded Age

  2. The Gilded Age • In the 1890s, 10% of Americans owned 90% of the nation’s wealth • “Gilded” means gold-covered

  3. Why would ‘gilded’ reflect the distribution of wealth in the late 19th Century?

  4. Homes Wealthy Poor • Huge mansions in the city • Summer homes in country • Luxuries – indoor plumbing, electricity, lavish furnishing • Apartments, tenements • Overcrowded, little light or fresh air • No or poor shared plumbing • Few, or basic furnishings

  5. Source of Income Wealthy Poor • Huge corporations, monopolies • Stocks, stock options • Profits rise by keeping costs low (see ) • 10-14 hour workdays • 20 cents per day; up to $2 per day • Unsafe workplaces with little light or fresh air

  6. Daily Life Wealthy Poor • Social functions, huge parties • Frequent holidays • Lavish spending • Work, work, work, (men, women & children) • Tending for children (women & children) • Sleep • Limited free time

  7. Social Darwinism • Individuals compete for success • The fittest (wealthy) have won and deserve the luxuries of wealth and inferior (poor) lose

  8. Issues of a Gilded Age:Vocabulary

  9. industrial union labor organization comprised of all workers in a factory regardless of the job they do

  10. craft union labor organization made up of workers in one particular trade

  11. seniority Your rank as a worker according to how long you’ve been on the job

  12. grievance complaint about the way you’re being treated

  13. arbitration settling of a dispute between two sides by an outside party

  14. injunction court order forbidding an event from taking place

  15. radical person with unusual or extreme beliefs

  16. anarchist person who believes in no government at all

  17. depression bad times in the business cycle characterized the high unemployment

  18. recession a mild depression

  19. inflation Prices go up and the value of money decreases

  20. deflation Prices go down and the value of money increases

  21. gold standard every paper dollar is worth a specific amount of gold

  22. free trade absence of tariffs and other trade barriers

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