1. MONDAY APRIL 5, 2010 » BELL RINGER:

2. GILDED AGE

3. THE URBAN LIFE » During the late 1800s a new class of wealthy city-dwellers emerged. » Most made their money in new industries such as steel, mining, and railroads. » Their wealth was often labeled as conspicuous consumption because they spent it on lavish goods just to flaunt it.

4. “THE NEWLY RICH” » The “newly rich” during the Gilded Age consisted of individuals like Andrew Carnegie (steel), John D. Rockefeller (oil), and Cornelius Vanderbilt (railroads)

5. Andrew Carnegie » Created US Steel Company, which is still around today » Founded Carnegie Mellon University in Pittsburg, PA » Net worth= $298.3 billion in 2007 dollars

6. John D. Rockefeller » Founder of Standard Oil Company » Founder of the University of Chicago » Net worth= $663.4 billion in late 2000s dollars

7. Cornelius Vanderbilt » Made his fortune in the shipping and railroad industries » Vanderbilt University in Nashville, TN is named in his honor » Net worth= $143 billion in 2007 dollars

8. POLITICS OF THE GILDED AGE » Citizens began to cast a more skeptical eye on the behavior and ethical standards of their political leaders. » Mark Twain wrote a novel that examined the values of wealthy Americans and the nature of national politics after the Civil War titled The Gilded Age » He claimed that Americans were driven by “money lust”

9. THE POLITICAL MACHINE » During the late 1800s well-organized political parties dominated city governments in the U.S. » Because of their success, these parties were called political machines. » Powerful political bosses managed these machines. » Political bosses made deals with business leaders, controlled city officials and council members who kept the machine running smoothly.

10. POLITICAL MACHINES CONT… » By providing jobs, political favors, and services to local residents, political machines were able to win support from many poor and working-class city-dwellers. » New immigrants became particularly loyal supporters of political machines.

11. Assignment »Write 2 paragraphs with AT LEAST 4 sentences in each comparing and contrasting the wealthy men we talked about today with the wealthy in today’s society. »Talk about how they spend their money, how much money they make, how they make their money. »Refer to specific people if you wish.