THE SPIRIT OF REFORM

Corruption, Capital, and Progress1872-1920

1873-1893: THE GILDED AGECoined by Mark Twain in 1873: The Gilded Age: A Tale of TodayCreation of a modern industrial economy

Per capita incomes doubled Germany and France, 50% higher than Great Britain

Opulence and philanthropyEthnic diversity in the Northeast “Industrial towns”

1873-1893: THE GILDED AGE

Andrew Carnegie: “The Gospel of Wealth”

Corporations (trusts)

Rise of the “robber barons”John D. Rockefeller

John Jacob Astor III

Samuel Gompers, the AFL, and the birth of the labor movement

Cornelius Vanderbilt

Andrew W. Mellon

CORRUPTION IN POLITICSTammany Hall: Best example of Gilded Age political corruptionLed by William “Boss” TweedRise of machine politics:

Grass roots origins

Patronage and immigrationExtralegal assistance

Spoils system

Party line vote

The power of the ward boss

THE GRANT PRESIDENCYPresident from 1869-1877

Biggest challenge beyond reconstruction: huge national debt

True believer in civil rights

Gold, rails, and nepotism

Crédit Mobilier

Union Pacific’s shell company

Crédit Mobilier traded shares for land grants

Distrust in government