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History Of The Gilded Age Essay

576 words - 2 pages

Following the Civil War and Reconstruction, the federal government was looking for a way to get the people motivated; motivated to work again, motivated to have a better life again, and then like an answered prayer we entered the ‘Gilded Age’. The rapid growth from 1865 to 1900 was brought on by the availability of money and resources. With entrepreneurs willing to take a risk with this money and new resources, extraordinary growth arose. Railroads were evolving everywhere and as a result the Steel industry started to rise. With this economic boom all people, especially the federal government, sought after means to sustain this sudden increase in the market. The United States government came up with a plan to promote industrial development from 1865 to 1900 while also regulating it at the same time. However, those roles often clashed and contradicted one another.
In an effort to promote industrial expansion, the federal government took action to deter the formation of monopolies and trusts. Monopolies were meant to eliminate competition and therefore inhibit businesses. Knocking down the credibility and resources of other companies as well as price fixing became illegal because these inevitably created monopolies. A major way that the federal government protected industry in America was by taxing imports to keep the price of the same product made in the United States cheaper. These protective tariffs have been used throughout history to protect US businesses. With his five part economic plan, Alexander Hamilton was one of the earliest advocators of economic nationalism which is simply a way of saying they implemented protective tariffs that shielded the American industry from foreign competition.
Along with promoting industry comes regulation. With railroads becoming more and...

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