issues of a gilded age
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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 - PowerPoint PPT PresentationTRANSCRIPT
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ISSUES OF A GILDED
AGE
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The Gilded Age In the 1890s, 10% of Americans
owned 90% of the nation’s wealth
“Gilded” means gold-covered
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Why would ‘gilded’ reflect the
distribution of wealth in the late
19th Century?
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HomesWealthy 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
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Source of IncomeWealthy 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
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Daily LifeWealthy Poor
Social functions, huge parties
Frequent holidays
Lavish spending
Work, work, work, (men, women & children)
Tending for children (women & children)
Sleep
Limited free time
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Social Darwinism Individuals compete for success
The fittest (wealthy) have won and deserve the luxuries of wealth and inferior (poor) lose
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Issues of a Gilded Age:
Vocabulary
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industrial union
labor organization comprised of all
workers in a factory regardless of the job
they do
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craft union
labor organization made up of workers
in one particular trade
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seniority
Your rank as a worker according to how
long you’ve been on the job
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grievance
complaint about the way you’re being
treated
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arbitration
settling of a dispute between two sides by an outside party
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injunction
court order forbidding an event from taking place
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radical
person with unusual or extreme beliefs
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anarchist
person who believes in no government at
all
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depression
bad times in the business cycle
characterized the high unemployment
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recession
a mild depression
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inflation
Prices go up and the value of money
decreases
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deflation
Prices go down and the value of money
increases
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gold standard
every paper dollar is worth a specific amount of gold
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free trade
absence of tariffs and other trade barriers