A Time Of Rapid Industrialization

1713 Words Aug 3rd, 2015 7 Pages
The period of time between the late 1800s and the early 1900s was a time of rapid industrialization in the United States. The great American author, Mark Twain, dubbed this period the “Gilded” Age. Gilded items are covered thinly with gold leaf or gold paint, which hides all that is inside. This idea is evident in this time period because America’s golden paint, or industrialization, was hiding all the economic and social problems on the inside. Although the Gilded Age brought along great advances in industrialization, it brought many new problems that were never experienced before. The politics of this time period came up short when it came to dealing with the economic and social issues it faced. Many of the economic problems of this time period were due to letting major corporations gain too much power. Big companies such as John Rockefeller’s Standard Oil Company and Andrew Carnegie’s Steel business were gradually taking over the economy. As evidenced by Frank Beard’s cartoon “The Monster Monopoly”, Standard Oil Company had its hand in many operations, such as savings banks, gas companies, and other smaller oil companies (Document 4). Rockefeller didn’t just own stock in his oil space, he owned stock in other spaces, and had many other revenue streams that really helped him amass a huge amount of money. In a way he was forming a monopoly because by swallowing up all these businesses, there were no competitors for him and he could price his products however he…
Open Document