American History Tellers The Gilded Age | Carnival of Corruption | 1
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Jul 22, 2020 The Gilded Age, marked by the completion of the Transcontinental Railroad, was a time of corruption and greed. Scandals tainted Ulysses S. Grant's presidency, including the gold market manipulation and collapse of the stock market. Grant's re-election campaign was marred by the Credit Mobilier scandal and economic crisis. The whiskey ring fraud and corrupt Secretary of War further tarnished Grant's administration. The Centennial Exposition showcased technological advancements but also revealed political unrest. Rutherford B. Hayes' weak presidency led to the rise of industrial titans and frustration among the working class.
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Railroad Stock Bribery Scheme
- A Republican congressman tries to sell shares in Credit Mobilier for votes on railroad appropriations.
- The proposal reveals how corruption was woven into railroad construction politics during the Gilded Age.
Gilded Age's Corrupt Reality
- The Gilded Age was a time of material success but vast inequality and corruption.
- Mark Twain named this era to reveal the glittering surface hid a rotten core of greed.
Gould and Fisk's Gold Scheme
- Jay Gould and Jim Fisk schemed to corner the gold market in 1869 by hoarding gold.
- Their scheme caused the Black Friday financial crash, ruining many investors but they survived.