Based on their understanding, “it were better for mankind that the millions of the rich were thrown into the sea than so spent as to encourage the slothful, the drunken, the worthy” (Carnegie). Instead of feeling sympathy, upper-class men considered lower-class people to be harmful for the society. Because of the popular political opinions and the lack of federal government efficiency, even though Congress enacted an ambitious reform program during the 1860s and 1870s, it had no effect on issues caused by urbanization and industrialization (380, Amsco). Also, many people’s rights were harmed because of the inactiveness of
Cornelius Vanderbilt saw the trouble coming. By 1873, the 79-year-old "Commodore," as he was called, was no stranger to risk: calculated bets with steamboat and railroad companies had made him by far the richest man in America. But he was wary of overexpansion by the railroads in the West, skeptical of economic weakness abroad and loose credit at home, and disdainful of the new "gang of stock speculators in Wall Street"—which included some of his own clan. When big banks began to fall on Sept. 18, 1873, he immediately understood what was wrong. "There are a great many worthless railroads started in this country without any means to carry them through," he told a reporter that evening.
This was caused by the lack of regulations and laws which allowed businessmen to get away with paying their employees unethically low wages without benefits. This lack of regulations and laws also enabled business to cut corners, which lead to unsafe product, such as spoiled meat as seen in document 2, and child labor, which is seen in document 3, in order to save money. During the gilded era, corrupt politicians added to the problems and injustices. Document 4 shows this using a comic. In the comic it shows that the “bosses of the senate” were the politicians which were backed up by big business and corporations.
He said in his veto message “It is easy to conceive that great evils to our country and its institutions might flow from such a concentration of power in the hands of a few men irresponsible to the people.” He is saying that the bank is being taken over by the rich and that the bank isn’t helping the common men at all. This shows his concern for economic equality because he cares about the common men and how they are being treated economically compared to the rich and wealthy. Jackson’s veto killed that power and by 1833 the bank was gone. Andrew Jackson also showed his concern for economic equality in 1828 when he supported the common men even though they weren't rich and wealthy. He took in their concerns and he treated both rich and poor with the same amount of respect and they respected him.
The carelessness that money creates allows those in power to bypass and disobey the laws because they believe their money will bail them out of trouble. Many wealthy people use their money as a reason to not take responsibility for their actions. Wealth causes the characters in The Great Gatsby to be out of touch with reality and the world beyond wealth. In F. Scott Fitzgerald's
Warren G Harding was a man most historians revile. He is known for the “Ohio Gang”, a group of his friends that he put into power in the United States government, simply because they were his friends. This was probably not the best idea, as one of his friends leased government land to oil barons for a huge sum of money. Jess Smith, another friend of his was bootlegging, which meant that he was smuggling Alcohol while the prohibition act was in full swing, as well as “influence peddling, and other nefarious activities” (Anthony 1). Harding also was somewhat of a ladies’ man, and the fact that he was married did not slow him down one bit.
The amount of wealth amassed by the top 1% of the population began to unnerve the American public and politicians alike. The rich got richer while the rest remained stagnant or became poorer. Labor strikes and riots were common during the time. Policies were put into place to prevent individuals from gaining this much power ever again. In todays’ modern Gilded Age loopholes have been exploited and the rich are becoming just as powerful as they have ever been.
Forbes released an article stating that Amado Carrillo had a net worth of twenty five billion dollars. Some say that this money was not beneficial in any way to Mexico, but others can prove them wrong. According to a Washington post article by John Ward Anderson titled: After Death, Kingpin’s life is An Open Book, Carrillo Fuentes behaved more like a businessman than a drug trafficker. He controlled his business very well and used his money to his advantage. He needed protection from the government so he would use his money to bribe officials.
The greatest political problem in the Gilded Age was the simple fact that so much of the politics and presidents were all corrupt in some way there is no politics at all if it's all corrupt. The government wasn’t certain on what they were doing. Then when the social Darwinism came along and they weren’t helping anybody. The rich were also giving money to people to form law and other things more in their favor that would be making them more rich than they already are. The presidents that were in office were also corrupt, when Grant was president, he had a few scandals while in office Credit Mobilier Scandal, Whiskey Ring Scandal, and the Trading Post Scandal.
Monopolies were intended to increase profits, and “dictate” the “two great classes:” the producer and the consumer (Doc 3). Many companies like Andrew Carnegie’s steel company and Rockefeller’s standard oil company benefitted from trusts. Rockefeller successfully created a monopoly by buying rival companies, and controlling transportation rates which allowed for the transport of goods at a cheaper rate, allowing Rockefeller to lower the price of oil; this affected small companies since it was impossible for them to compete with the price (Doc 5). While many companies invested in the railroad company and created contracts to receive exclusive benefits such as lower rates, the railroads didn’t benefit the public at all, because they were built by investors that only cared about receiving a “fair percentage” of the profit, and remarked that “the public be damned” (Doc 1). Many laborers working under these company suffered due to the reduction of “the price of every labor connected with trade” (Doc 3).