Politics and Government during the Gilded Age

Gilded Age

Period from 1870 to 1900 marked by extreme wealth inequality, monopolies, speculation, and government corruption.

Mark Twain

An American author who coined the term 'Gilded Age' in collaboration with Charles Dudley Warner.

The Gilded Age: A Tale of Today

A novel by Mark Twain and Charles Dudley Warner that critiques the social issues of the Gilded Age.

Monopoly

A corporation that dominates an entire industry, eliminating competition and controlling prices.

Railroad Expansion

The growth of railroad tracks from about 30,626 miles in 1860 to nearly 200,000 miles by 1900.

Panic of 1873

A financial crisis triggered by the failure of the Northern Pacific Railroad, leading to a long depression.

Bimetallism

The monetary policy of using both gold and silver to back U.S. currency, advocated by farmers and the Populist Party.

Interstate Commerce Commission (ICC)

A regulatory agency created in 1887 to oversee the railroad industry and ensure fair rates for transport.

Pendleton Act

A 1883 law that established a civil service commission to end the spoils system and required people to pass exams for federal jobs.

Populist Party

A political party formed in 1882 advocating for agrarian interests, including free silver and government intervention in the economy.

Wealth Inequality

The disparity in wealth distribution where a small percentage of the population holds a large portion of the country's wealth.

Farmers' Alliance

A movement among farmers in the late 19th century advocating for cooperative buying and political reforms.

Political Machines

Political organizations that controlled local governments through patronage, corruption, and favoritism.

Gilded Age Corruption

The high levels of political corruption at local and federal levels, exemplified by figures like Boss Tweed.

Sound Money

The belief in a stable currency, typically associated with the gold standard.

Free Silver

The demand to allow silver to be used alongside gold to back U.S. currency, advocated by farmers and the Populist movement.

Agricultural Decline

The decrease in the importance and profitability of agriculture during the Gilded Age, leading to farmer hardships.

John Sherman

A politician who predicted the move from small-scale production to industrial capitalism.

The Grange (Patrons of Husbandry)

A social and educational organization for farmers founded in 1867 aimed at promoting agriculture.

Trusts

Legal entities that allow businesses to work together in controlling an industry, often resulting in monopolistic power.

Manufacturing Sector Growth

The significant increase in manufacturing's share of the economy during the Gilded Age.

Economic Multiplier Effect

The idea that one industry's growth can stimulate growth in additional related industries.

Regulatory Demands

Calls for government oversight and restrictions on industries, particularly railroads during the Gilded Age.

Labor Strikes

Protests by workers aimed at improving wages and working conditions, prevalent during the rise of industrial capitalism.

Political Influence of Business Leaders

The power exerted by wealthy industrialists and corporations to sway public policy and government decisions.

Coxey's Army

A protest march in 1894 advocating for public works jobs during the economic depression.

William Jennings Bryan

A politician and key figure in the debate over free silver, known for his oratorical skills and presidential campaigns.

Gold Standard

A monetary system where currency value is directly linked to gold, limiting the money supply.

Federal Regulation

Government control over industries in order to protect public interest, emphasized during and after the Gilded Age.

Gilded Age

A period from 1870–1900 characterized by rapid industrialization, extreme wealth inequality, and underlying social and political corruption.

The Panic of 1873

An economic depression triggered by the failure of the Northern Pacific Railroad and Jay Gould's bond speculation, leading to many bank and business failures.

Monopoly

A situation where a single corporation dominates an entire industry, allowing it to eliminate competition, set prices, and control supply.

Munn v. Illinois (1877)

A Supreme Court case that upheld state laws regulating private businesses (like grain elevators) that serve a 'public interest'.

Wabash v. Illinois (1886)

A Supreme Court ruling that overturned Munn v. Illinois, stating that only Congress has the power to regulate interstate railroad rates.

Interstate Commerce Commission (ICC)

Established in 1887, it was the first federal regulatory agency, created to oversee railroad practices and ensure fair rates across state lines.

The Grange

An organization founded in 1867 to educate farmers and promote economic cooperation through cooperatives to bypass expensive merchants and middle-men.

Bimetallism

A monetary system using both gold and silver to back currency, supported by farmers (Populists) to increase the money supply and raise crop prices.

Political Machine

An informal political group designed to gain and keep power through corrupt practices, such as providing jobs and favors in exchange for votes.

William ‘Boss’ Tweed

The corrupt leader of Tammany Hall, New York City's political machine, who stole an estimated $200 million from taxpayers.

Pendleton Act (1883)

A federal law that established the Civil Service Commission and required competitive exams for government jobs, aimed at ending the spoils system.

Coxey’s Army

A protest march in 1894 led by Jacob Coxey, demanding that the federal government create jobs for the unemployed through a public works program.

William Jennings Bryan

The Democratic and Populist candidate in 1896 who advocated for ‘free silver’ and voiced the concerns of farmers and workers.

Panic of 1893

A severe economic depression marked by a stock market collapse and high unemployment, which significantly boosted support for the Populist Party.

Spoils System

The practice of political victors giving government jobs to their supporters and financial donors regardless of their qualifications.