The Changing Economy: 1865- 1939

Whitney Mixter

Question 1

History 113- Midterm # 2

Prof. Offutt

The terminal of the Civil War brought a whole new epoch of economic system, political control, and Presidential intercession. The economic system emerged from its agriculturally based economic system into a booming large concern dominated universe and finally in 1929 came crashing down. I agree merely partly with the quotation mark & # 8220 ; The Civil War saw the beginning of an 80-year diminution of existent single economic chance ; however, the huge bulk of Americans continued to profess their belief in individuality as evidenced by the Presidents they elected. Therefore, between 1865 and 1939, the bulk of Americans accepted large concern laterality and rejected all signifiers of authorities intervention and ordinance reverse to individualism. & # 8221 ;

It is true that the Civil war saw the beginning of a diminution of single economic chance. During an epoch known as & # 8220 ; The Gilded Age & # 8221 ; enduring from the terminal of the war until 1900, big corporations dominated the U. S. economic system. The population went from being composed of preponderantly husbandmans and little concern proprietors to big concern proprietors and stockholders. Technology began to revolutionise corporations, such as the building of national railwaies. Big concern besides led to monopolies, where one company would hold full control over a specific country go forthing others fighting. To defy large concern labour brotherhoods, such as the American Federation of Labor, formed although they were normally no competition for large corporations. Between the terminal of the Civil war and 1900 fabrication increased by four times go forthing many husbandmans and little concern proprietors traveling to the metropolis. After the stock market clang of 1929 everyone seemed to endure an economic diminution and it was no longer limited to single chance.

Americans did non go on to profess their belief in individuality as evidenced by the Presidents they elected. The Individualist mind believes that societal, economic and political organisation should be put to an terminal. Between 1865 and 1939 most of the Presidents had big political influences on the state. As this clip period in 1865 was get downing, Lincoln was assassinated and Andrew Johnson became President. Johnson made an effort at acquiring political leading over Congress but failed and was subsequently impeached. Ulysses S. Grant became the following President and the state was so under congressional control. Up until 1985 when Chester Arthur was President the state had reasonably

tight Presidential leading. The lone true instance of Presidents demoing Individualist values was at the beginning of the Great Depression under Herbert Hoover. During the Depression Hoover thought the economic system would unbend itself out without authorities intercession. The state so realized this outlook was non working and Hoover was defeated to Franklin Roosevelt in 1932. Roosevelt was all for authorities intercession and created the New Deal which would be designed to supply authorities support to those fighting. From FDR the state adopted a new construct of economic and societal ordinance from the authorities. By the early 1940’s the economic system, under Roosevelt’s Democratic control, was back to the same criterions as before the depression.

Between 1865 and 1939 non all Americans accepted large concern laterality. In the beginning of this epoch most of Americans were husbandmans or little concern proprietors. When corporations began and monopolies formed many Americans put up opposition forming labour brotherhoods and traveling on work stoppage. The Knights of Labor and the American Federation of Labor were founded to contend large concern, and this led to a big figure of labour work stoppages. The rich were acquiring richer and the hapless were deceasing out because of large concern, so the lone 1s truly happy with this state of affairs were the concern proprietors. Farmers finally were losing excessively much money and had no pick but to travel into the metropolis, where there may be some hope for economic success.

The bulk of Americans did non reject all signifiers of authorities intercession. The largest group rejecting the authorities from step ining was the large concern proprietors and stockholders. They were already affluent and did non desire the President to hold a big manus in societal and economic control. During 1885 and 1933 many political relations were corrupt from the concern leaders developing an confederation with political relations doing Presidential control to be little. If the state had rejected all signifiers of the authorities ordinance, they may hold ne’er gotten out of the Depression. FDR had a big governmental control over the state, modulating much of the economic system. This is why FDR as opposed to Herbert Hoover got the state back to solid economic evidences.

From the Civil War to the terminal of the Great Depression the United States economic system went through many degrees of economic, political, and societal success and failure. Without the authorities stepping in to do ordinances the state would hold ne’er been able to mount out of the pestilence of the Depression under Individualist means.