The Gilded Age | Full Documentary | AMERICAN EXPERIENCE | PBS

American Experience | PBS・2 minutes read

The Gilded Age in the late 19th century showcased stark economic disparities between the wealthy elite and struggling workers, leading to debates on societal dangers and the rise of labor unions. Key figures like Andrew Carnegie, J.P. Morgan, Mary Elizabeth Lease, and Jacob Coxey played significant roles in shaping economic policies and challenging the dominance of Big Business, culminating in the 1896 election victory of William McKinley over William Jennings Bryan in a high-turnout election dominated by factory workers and urban areas.

Insights

The Gilded Age in the US witnessed a stark wealth disparity between the elite and struggling workers, with lavish events like the grand ball showcasing opulence that contrasted sharply with the poverty experienced by many.
Henry George's advocacy for economic reform, challenging the notion that poverty was solely due to individual failures and proposing increased taxes on property owners, resonated with many Americans, leading to a significant voter turnout and highlighting growing concerns over economic issues.
J.P. Morgan's pivotal role in stabilizing the US economy during the Panic of 1893 by organizing a syndicate to lend gold to the Treasury showcased the influence of powerful private entities in managing financial crises when government support was lacking.

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Recent questions

What was the Gilded Age?
A time of wealth and societal divide.
Who was Andrew Carnegie?
A self-made steel magnate.
What were the key issues during the Panic of 1893?
Severe economic downturn and unemployment.
Who was J.P. Morgan and what was his role during the economic crisis?
A powerful banker who stabilized the economy.
What were the main platforms of William Jennings Bryan and William McKinley during the 1896 election?
Bryan focused on silver support, while McKinley emphasized business prosperity.

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Summary

00:00

Gilded Age Ball Sparks Societal Debate

A cold snap hit New York in February 1897, but preparations for a grand ball continued.
The ball was a symbol of the Gilded Age, a time of opportunity and progress.
The ball's cost could feed a thousand working-class families for a year.
The event sparked debate, with critics warning of societal dangers.
The Gilded Age saw a divide between the wealthy and struggling workers.
America transformed post-Civil War into an economic powerhouse.
New York's elite, representing a small percentage, held vast wealth.
The nation shifted from a farming to an industrial society.
Railroads connected the country, enabling national commerce.
Andrew Carnegie, a self-made man, rose from humble beginnings to steel magnate.

18:57

Wealth, power, and influence in Gilded Age

New York's fashionable families, descended from Dutch settlers, valued manners and modesty over flaunting wealth.
The Vanderbilts, immensely wealthy, were not discreet about their riches, unlike the old money crowd.
Caroline Schermerhorn Astor held significant influence in deciding who could ascend society's ranks.
Mrs. Astor was wary of the Vanderbilts, considering Cornelius ruthless and crude, but respected their wealth.
Alva Vanderbilt, born in Alabama, understood the power of money and was determined to establish her family's status.
Alva and Willie K. Vanderbilt threw a lavish housewarming party, inviting 1,200 guests, including Mrs. Astor.
Alva strategically used media coverage to ensure her ball was the talk of the town.
The ball on March 26, 1883, showcased European-inspired gowns and lavish decorations, impressing Mrs. Astor.
The Gilded Age saw rapid industrialization in the US, attracting millions of immigrants seeking better opportunities.
Workers faced harsh conditions in factories, leading to the rise of labor unions demanding better wages and safety measures.

37:19

"Progress and Poverty" challenges economic inequality

Henry George's book "Progress and Poverty" highlights the inequality and poverty present in America despite economic progress.
George self-published the book in 1881 and moved to New York to promote it.
He challenges the notion that poverty is solely due to personal failures, attributing it to economic organization.
George runs for mayor in New York in 1886, advocating for working people and addressing economic disparities.
Despite initial skepticism, George's campaign gains momentum and he garners significant support.
George's ideas include increased taxes on property owners, public transit ownership, and better working conditions.
On Election Day, George finishes second with 68,000 votes, indicating growing concern over economic issues.
J.P. Morgan, a powerful banker, values order and stability, following a routine in his daily life.
Morgan plays a pivotal role in the American economy, acting as a conduit between European investors and American industry.
Morgan's efforts to consolidate the railroad industry reflect his vision of a well-organized economy, despite challenges faced by farmers in the West.

54:51

Mary Elizabeth Lease: Populist Leader and Advocate

Mary Elizabeth Lease, a former school teacher and attorney, was a passionate speaker supporting labor unionists, suffragettes, and Kansas farmers in 1890.
Lease, a child of Irish immigrants, faced personal tragedies and economic hardships, leading her to advocate for social change.
She played a key role in founding the People's Party, or Populists, in Kansas, aiming to challenge the dominance of Big Business in state politics.
The People's Party, under Lease's leadership, won a significant number of seats in the Kansas state legislature, signaling a shift in power.
The success of the Populists in Kansas inspired a nationwide movement, drawing in farmers, labor unionists, and black professionals and farmers.
The Populists proposed radical ideas like public ownership of railroads, a federal income tax, and government control of the money supply.
Meanwhile, at Andrew Carnegie's steel mill in Homestead, Pennsylvania, a labor dispute erupted in 1892.
Carnegie, influenced by Social Darwinism, aimed to break the unions at Homestead to maximize profits, leading to a violent confrontation with striking workers.
Despite the casualties, Carnegie remained resolute in crushing the union, with support from state and federal authorities.
The Panic of 1893, triggered by the collapse of a powerful trust, led to a severe economic downturn, reflecting the impact of industrialization on the American economy.

01:11:58

Unemployment crisis sparks Coxey's march to D.C.

The U.S. economy was heavily reliant on manufacturing jobs, leading to severe impacts during economic downturns.
A million people lost their jobs, with one in five Americans left without income during the economic crisis.
In 1893, there was no government support available for American citizens facing hard times.
Police stations used to provide refuge for the homeless but became overwhelmed during the crisis.
Jacob Coxey proposed the government hire unemployed individuals to fix roads, addressing both unemployment and infrastructure issues.
Coxey and his supporters embarked on a 700-mile march to Washington, D.C., seeking government intervention.
Coxey's march gained significant attention and support, resembling a pilgrimage to the Capitol.
Coxey's movement inspired unemployed individuals across the country to march to Washington for help.
Coxey's efforts were met with hostility from business owners and political figures, leading to his arrest and the movement's collapse.
J.P. Morgan intervened in the economic crisis by organizing a syndicate to lend gold to the U.S. Treasury, preventing a financial collapse.

01:28:47

"J.P. Morgan boosts gold reserves, Bryan wins nomination"

J.P. Morgan's syndicate provided cash and credit to boost the nation's gold reserves in 1895.
Morgan's actions helped stabilize the economy, acting as a private entity when no Federal Reserve Bank existed.
Grover Cleveland couldn't have managed the panic without Morgan's intervention.
Alva Vanderbilt's divorce scandal in 1895 broke social norms, leading to her ostracization.
Alva's daughter, Consuelo, married the Duke of Marlborough, enhancing the family's social status.
William Jennings Bryan's powerful speech advocating for silver won him the Democratic nomination in 1896.
Bryan's platform included silver support, a federal income tax, and breaking up industrial monopolies.
Bryan's success depended on uniting farmers and industrial workers under a common cause.
William McKinley, the Republican nominee, focused on business prosperity and opposed Bryan's platform.
Bryan's whistle-stop tour covered 18,000 miles, addressing economic depression and advocating for prosperity for all.

01:45:18

Rockefeller and Carnegie Influence 1896 Election Victory

John D. Rockefeller wrote a check for $250,000 to a political candidate, contributing significantly to the campaign.
Andrew Carnegie, initially uninvolved in politics, supported McKinley's campaign by funding a pamphlet and emphasizing the benefits of good wages to workers.
The 1896 election saw a high voter turnout of 80%, with McKinley winning due to strong support from factory workers and urban areas, solidifying Republican majorities in Congress.

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