The Gilded Age
Railroad development boomed as trains moved goods from the West(which became full of resources) to the East. Steel and oil were two of the top resources in demand at this time. This new industry created a lot of new wealth for businessmen. Some of the most famous businessmen of this time wereJohn D. Rockefeller (in oil) and Andrew Carnegie (in steel). These men were known as robber barons because of their business deals, sometimes resulting in monopoly. The Gilded Age gets its name from the change in wealth and how it was supported by the people. However as many business men were soaking up the wealth, many small farmers and craftsmen were just struggling to survive. This created a large gap between the rich and the poor. In a way completely eliminating the middle class. Railroads and telephone lines stretched across the country, creating new opportunities for entrepreneurs and cheaper goods for consumers.
Corruption whas a major issue durring this time period. The corruption extended to the highest levels of government. During Ulysses S. Grant's presidency, the president and his cabinet were involved in the Credit Mobilier, the Gold Conspiracy, the Whiskey Ring. All giving a him a bad reputation and name.
AP THEMES
~Economic Transformation- Many people were benifiting from the railroads being built, it allowed them to export their high demand goods faster and cheaper.
~culture- Many people were drastically changing their lifestyles due to the economic boom
AP THEMES
~Political- Many scandals were being created and big companies began creating monopolies
~Economic Transformation- Many people were benifiting from the railroads being built, it allowed them to export their high demand goods faster and cheaper.
~culture- Many people were drastically changing their lifestyles due to the economic boom