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Use this site to figure out how much a dollar would equal in today's market

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Value of $1,000,000 from 1890 to 2022

$1,000,000 in 1890 is equivalent in purchasing power to about $32,616,263.74 today, an increase of $31,616,263.74 over 132 years. The dollar had an average inflation rate of 2.68% per year between 1890 and today, producing a cumulative price increase of 3,161.63%.

This means that today's prices are 32.62 times higher than average prices since 1890, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 3.066% of what it could buy back then.

The inflation rate in 1890 was -1.09%. The current inflation rate compared to last year is now 8.20%. If this number holds, $1,000,000 today will be equivalent in buying power to $1,082,016.70 next year. The current inflation rate page gives more detail on the latest inflation rates.

Annual Rate, the Bureau of Labor Statistics CPI

Buying power of $1,000,000 in 1890

This chart shows a calculation of buying power equivalence for $1,000,000 in 1890 (price index tracking began in 1635).

For example, if you started with $1,000,000, you would need to end with $32,616,263.74 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $1,000,000 is equivalent to $32,616,263.74 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1890 dollars, the chart below shows how $1,000,000 is worth less over 132 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

This conversion table shows various other 1890 amounts in today's dollars, based on the 3,161.63% change in prices:

Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £1,000,000.00 in 1890 would be equivalent to £151,866,666.90 in 2022, an absolute change of £150,866,666.90 and a cumulative change of 15,086.67%.

Compare these numbers to the US's overall absolute change of $31,616,263.74 and total percent change of 3,161.63%.

Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes.

This chart shows the average rate of inflation for select CPI categories between 1890 and 2022.

Compare these values to the overall average of 2.68% per year:

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1890. This table and charts use the earliest available data for each category.

How to calculate inflation rate for $1,000,000 since 1890

Our calculations use the following inflation rate formula to calculate the change in value between 1890 and today:

Then plug in historical CPI values. The U.S. CPI was 9.1 in the year 1890 and 296.808 in 2022:

$1,000,000 in 1890 has the same "purchasing power" or "buying power" as $32,616,263.74 in 2022.

To get the total inflation rate for the 132 years between 1890 and 2022, we use the following formula:

Plugging in the values to this equation, we get:

Comparison to S&P 500 Index

The average inflation rate of 2.68% has a compounding effect between 1890 and 2022. As noted above, this yearly inflation rate compounds to produce an overall price difference of 3,161.63% over 132 years.

To help put this inflation into perspective, if we had invested $1,000,000 in the S&P 500 index in 1890, our investment would be worth approximately $154,026,705,199.95 in 2022. This is a return on investment of 15,402,570.52%, with an absolute return of $154,025,705,199.95 on top of the original $1,000,000.

These numbers are not inflation adjusted, so they are considered nominal. In order to evaluate the real return on our investment, we must calculate the return with inflation taken into account.

The compounding effect of inflation would account for 96.93% of returns ($149,304,315,583.37) during this period. This means the inflation-adjusted return of our $1,000,000 investment is $4,721,389,616.59. You may also want to account for capital gains tax, which would take your real return down to around $4,013,181,174 for most people.

Information displayed above may differ slightly from other S&P 500 calculators. Minor discrepancies can occur because we use the latest CPI data for inflation, annualized inflation numbers for previous years, and we compute S&P price and dividends from January of 1890 to latest available data for 2022 using average monthly close price.

For more details on the S&P 500 between 1890 and 2022, see the stock market returns calculator.

Data source & citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (CPI), established in 1913. Inflation data from 1634 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University and from the American Antiquarian Society.

You may use the following MLA citation for this page: "$1,000,000 in 1890 → 2022 | Inflation Calculator." Official Inflation Data, Alioth Finance, 28 Oct. 2022, https://www.officialdata.org/us/inflation/1890?amount=1000000.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

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Inflation Rate between 1890-2022 | Inflation Calculator

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1,000,000 in 1890 is equivalent in purchasing power to about $32,616,263.74 today, an increase of $31,616,263.74 over 132 years. The dollar had an average inflation rate of 2.68% per year between 1890 and today, producing a cumulative price increase of 3,161.63%.

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Farm labor wages, 1890-1899
In one simple table, see the national average for daily and monthly wages of hired farm labor, with board or without, at harvest or at other seasons for years 1890, 1892, 1893-1895, 1898, 1899. This is part of a larger table showing wage data from 1866-1922.

Farm laborer monthly earnings, 1890
Lists average monthly earnings with board, by geographic divisions for 1890 and other selected years between 1818-1948. See theexplanation for this table here.

Farm labor - Average wages by state, 1866-1909
Tables 11-15 on pages 29-33 show average wages with and without board.

Farm wages in Vermont, 1780-1937
Table 26 shows daily and monthly wages with board for each year from 1780-1937. Source: Vermont Agricultural Experiment Station.

Building trade wages by year and state, 1840-1900
Lists wages for bricklayers, carpenters, electricians, stationary engineers, stationary firemen, hod carriers, building laborers, marble cutters, stone masons, painters, plasterers, plumbers, stone cutters, granite cutters and tile layers. Scroll forward in the source to see additional occupations. Source:History of Wages in the United States from Colonial times to 1928.

Building trades - Wages and hours in the U.S. and Europe, 1890-1903
Compares wages for blacksmiths, boiler makers, bricklayers, carpenters, compositors, hod carriers, iron molders, general laborers, machinists, house painters, plumbers, stone cutters, and stone masons in U.S., Great Britain, Germany, France and Belgium. Source: U.S. BLS Bulletin no. 53, published July 1904.

Wages for city employees, by occupation and city - 1890s
Wages for all the typical building trades are represented (carpenter, stone mason, bricklayer, electrical inspectors) as well as other jobs working for city governments. Source: U.S. BLS Bulletin no. 7, published November 1896.

Building trade wage microdata (not averaged),1890-1891
Reports monthly wages paid to individual, unnamed male and female employees in a variety of jobs at selected establishments in the states of MD, MA, NJ, NY, PA and RI. Occupations include carpenter, carpenter's helper, hod carrier, mason, mason's helper, painter, bricklayer, bricklayer's helper, steam and gas fitter, plumber, tinsmith, machine hand, teamster, roofer, plasterer, watchmen, foreman, apprentice and engineer.

Manufacturing industries - Wages and hours, 1890-1907
Bulletin of the U. S. Bureau of Labor, No. 77, Volume XVII. Published July 1908.

Wages in cotton, woolen, and silk industries, 1890-1912
These workers engaged in spinning, weaving, printing, dyeing and otherwise performing tasks for the manufacture of fabrics. Shows hourly wages and typical hours per week.

Wages in lumber, millwork, and furniture industries, 1890 to 1912
Source: U.S. BLS Bulletin no. 129.

Wages in automobile manufacturing, 1899-1955
Shows average weekly earnings. Although this is not a government source, it cites government data.

Railway employee wages, 1896-1907
For each year from 1896-1907, this source lists average daily compensation in dollars for station agents, conductors, telegraph operators, enginemen, firemen, track men, switch tenders, crossing tenders, machinists, carpenters and more.

Railroad cars, building and repair - 1890 to 1912
Shows wages per hour and hours of work per week for the years 1907 to 1912, with breakouts by state. Includes a comparison from 1890 to 1912. Source: U.S. BLS Bulletin no. 137

Wages for African-Americans by occupation, 1896
This source lists the occupation and average weekly earnings for several thousand sampled individuals mostly from Atlanta, Nashville and Cambridge, Massachusetts but also from some other cities. Note that this source lists the earnings of each individual and does not provide occupational averages. Some occupations include clergyman, teacher, seamstress, washerwoman, barber, shoemaker, tinsmith, nurse, well digger, coachman, waiter, railroad porter and more. Source: U.S. Dept of Labor Bulletin #10,Condition of the Negro in Various Cities.

African-Americans - Wages by occupation, 1890-1920
The bookThe Negro Wage Earner is not a government document but it cites government wage data. Use the table of contents to find the chapter on the type of job, then use the "Jump to..." box to quickly land on that page in the volume.

WAGES by OCCUPATION

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Library Guides: Prices and Wages by Decade: 1890-1899

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Farm labor wages, 1890-1899 In one simple table, see the national average for daily and monthly wages of hired farm labor, with board or without, at harvest or at other seasons for years 1890, 1892, 1893-1895, 1898, 1899. This is part of a larger table showing wage data from 1866-1922.

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Transcontinental Railroad

Before the Civil War, rail travel was dangerous and difficult, but after the war, George Westinghouse invented the air brake, which made braking systems more dependable and safe.

Soon, the development of Pullman sleeping cars and dining cars made rail travel comfortable and more enjoyable for passengers. It wasn't long before trains overtook other forms of long-distance travel such as the stagecoach and riding horseback.

In 1869, the Transcontinental Railroad was finished and led to rapid settlement of the western United States. It also made it much easier to transport goods over long distances from one part of the country to another.

This enormous railroad expansion resulted in rail companies and their executives receiving lavish amounts of money and land-up to 200 million acres, by some estimates-from the United States government. In many cases, politicians cut shady backroom deals and helped create railroad and shipping tycoons such as Cornelius Vanderbilt and Jay Gould. Meanwhile, thousands of African American-many of them former slaves-were hired as Pullman porters and paid a pittance to cater to riders' every need.

Robber Barons

Railroad tycoons were just one of many types of so-called robber barons that emerged in the Gilded Age.

These men used union busting, fraud, intimidation, violence and their extensive political connections to gain an advantage over any competitors. Robber barons were relentless in their efforts to amass wealth while exploiting workers and ignoring standard business rules-and in many cases, the law itself.

They soon accumulated vast amounts of money and dominated every major industry including the railroad, oil, banking, timber, sugar, liquor, meatpacking, steel, mining, tobacco and textile industries.

Some wealthy entrepreneurs such as Andrew Carnegie, John D. Rockefeller and Henry Frick are often referred to as robber barons but may not exactly fit the mold. While it's true they built huge monopolies, often by crushing any small business or competitor in their way, they were also generous philanthropists who didn't always rely on political ploys to build their empires.

Some tried to improve life for their employees, donated millions to charities and nonprofits and supported their communities by providing funding for everything from libraries and hospitals to universities, public parks and zoos.

Industrial Revolution

The Gilded Age was in many ways the culmination of the Industrial Revolution, when America and much of Europe shifted from an agricultural society to an industrial one.

Millions of immigrants and struggling farmers arrived in cities such as New York, Boston, Philadelphia, St. Louis and Chicago, looking for work and hastening the urbanization of America. By 1900, about 40 percent of Americans lived in major cities.

Most cities were unprepared for rapid population growth. Housing was limited, and tenements and slums sprung up nationwide. Heating, lighting, sanitation and medical care were poor or nonexistent, and millions died from preventable disease.

Many immigrants were unskilled and willing to work long hours for little pay. Gilded Age plutocrats considered them the perfect employees for their sweatshops, where working conditions were dangerous and workers endured long periods of unemployment, wage cuts and no benefits.

Gilded Age Homes

Homes of the Gilded Age elite were nothing short of spectacular. The wealthy considered themselves America's royalty and settled for nothing less than estates worthy of that distinction. Some of America's most famous mansions were built during the Gilded Age such as:

Biltmore, located in Asheville, North Carolina, was the family estate of George and Edith Vanderbilt. Construction started on the 250-room chateau in 1889, prior to the couple's marriage, and continued for six years. The home had 35 bedrooms, 43 bathrooms, 65 fireplaces, a dairy, a horse barn and beautiful formal and informal gardens.

The Breakers in Newport, Rhode Island, is another Vanderbilt mansion. It was the summer home of railroad mogul Cornelius Vanderbilt. The Italian-Renaissance style home has 70 rooms, a stable and a carriage house.

Rosecliff, also in Newport, was completed in 1902. The oceanfront home was contracted by Theresa Fair Oelrichs and built to resemble the Grand Trianon of Versailles. Today, it's best known as the backdrop for movie scenes in The Great Gatsby, High Society, 27 Dresses and True Lies.

Whitehall, located in Palm Beach, Florida, was the neoclassical winter retreat of oil tycoon Henry Flagler and his wife Mary. The 100,000 square foot, 75-room mansion was completed in 1902 and is now a popular museum.

Income Inequality in the Gilded Age

The industrialists of the Gilded Age lived high on the hog, but most of the working class lived below poverty level. As time went on, the income inequality between wealthy and poor became more and more glaring.

While the wealthy lived in opulent homes, dined on succulent food and showered their children with gifts, the poor were crammed into filthy tenement apartments, struggled to put a loaf of bread on the table and often accompanied their children to a sweatshop each morning where they faced a 12-hour (or longer) workday.

Some moguls used Social Darwinism to justify the inequality between the classes. The theory presumes that the fittest humans are the most successful and poor people are destitute because they're weak and lack the skills to be prosperous.

Muckrakers

Muckrakers is a term used to describe reporters who exposed corruption among politicians and the elite. They used investigative journalism and the print revolution to dig through "the muck" of the Gilded Age and report scandal and injustice.

In 1890, reporter and photographer Jacob Riis brought the horrors of New York slum life to light in his book, How the Other Half Lives, prompting New York politicians to pass legislation to improve tenement conditions.

In 1902, McClure Magazine journalist Lincoln Steffens took on city corruption when he penned the article, "Tweed Days in St. Louis." The article, which is widely considered the first muckracking magazine article, exposed how city officials deceitfully made deals with crooked businessmen to maintain power.

Another journalist, Ida Tarbell, spent years investigating the underhanded rise of oilman John D. Rockefeller. Her 19-part series, also published in McClure in 1902, led to the breakup of Rockefeller's monopoly, the Standard Oil Company.

In 1906, activist journalist and novelist Upton Sinclair wrote The Jungle to expose horrendous working conditions in the meatpacking industry. The book and ensuing public outcry led to the passing of the Meat Inspection Act and the Pure Food and Drug Act.

Labor Unions Rise

It soon became obvious that the huge disparity between the wealthy and poor couldn't last, and the working class would have to organize to improve their working and living conditions. It was also obvious this wouldn't happen without some degree of violence.

Much of the violence, however, was between the workers themselves as they struggled to agree on what they were fighting for. Some simply wanted increased wages and a better working environment, while others also wanted to keep women, immigrants and blacks out of the workforce.

Although the first labor unions occurred around the turn of the nineteenth century, they gained momentum during the Gilded Age, thanks to the increased number of unskilled and unsatisfied factory workers.

Railroad Strikes

On July 16, 1877, the Baltimore and Ohio Railroad Company announced a 10-percent pay cut on its railroad workers in Martinsburg, West Virginia, the second cut in less than eight months.

Infuriated and fed up, the workers-with the support of the locals-announced they'd prevent all trains from leaving the roundhouse until their pay was restored.

The mayor, the police and even the National Guard couldn't stop the strike. It wasn't until Federal troops arrived that one train finally left the station.

The strike spread among other railroads, sparking violence across America between the working class and local and federal authorities. At its peak, over 100,000 railroad workers were on strike. Many of the Robber Barons feared an aggressive, all-out revolution against their way of life.

Instead, the strike-later known as the Great Upheaval-ended abruptly and was labeled a dismal failure. Yet it showed America's tycoons there was strength in numbers and that organized labor had the potential to shut down entire industries and inflict major economic and political damage.

As the working class continued to use strikes and boycotts to fight for higher wages and improved working conditions, their bosses staged lock-outs and brought in replacement workers known as scabs.

They also created blacklists to prevent active union workers from becoming employed elsewhere. Even so, the working class continued to unite and press their cause and often won at least some of their demands.

Gilded Age Cities

Innovations of the Gilded Age helped usher in modern America. Urbanization and technological creativity led to many engineering advances such as bridges and canals, elevators and skyscrapers, trolley lines and subways.

The invention of electricity brought illumination to homes and businesses and created an unprecedented, thriving night life. Art and literature flourished, and the rich filled their lavish homes with expensive works of art and elaborate décor.

In 1876, Alexander Graham Bell invented the telephone and made the world a much smaller place for both individuals and businesses. Advances in sanitation and housing, and the availability of better quality food and material goods, improved quality of life for the middle class.

But while the middle and upper classes enjoyed the allure of city life, little changed for the poor. Most still faced horrific living conditions, high crime rates and a pitiable existence.

Many escaped their drudgery by watching a vaudeville show or a spectator sport such as boxing, baseball or football, all of which enjoyed a surge during the Gilded Age.

Women in the Gilded Age

Upper-class women of the Gilded Age have been compared to dolls on display dressed in resplendent finery. They flaunted their wealth and endeavored to improve their status in society while poor and middle-class women both envied and mimicked them.

Some wealthy Gilded Age women were much more than eye candy, though, and often traded domestic life for social activism and charitable work. They felt a new degree of empowerment and fought for equality, including the right to vote through women's suffrage groups.

Some created homes for destitute immigrants while others pushed a temperance agenda, believing the source of poverty and most family troubles was alcohol. Wealthy women philanthropists of the Gilded Age include:

Louise Whitfield Carnegie, wife of Andrew Carnegie, who created Carnegie Hall and donated to the Red Cross, the Y.W.C.A., and other charities.

Abby Aldrich Rockefeller, wife of John D. Rockefeller, Jr., who helped create hotels for women and solicited funds to create the New York Museum of Modern Art.

Margaret Olivia Sage, wife of Russell Sage, who after the death of her miserly husband gave away $45 million of her $75 million inheritance to support women's causes, educational institutions and the creation of the Russell Sage Foundation for Social Betterment, which directly helped poor people.

Many women during the Gilded Age sought higher education. Others postponed marriage and took jobs such as typists or telephone switchboard operators.

Thanks to a print revolution and the accessibility of newspapers, magazines and books, women became increasingly knowledgeable, cultured, well-informed and a political force to be reckoned with.

Jane Addams

Jane Addams is arguably the best-known philanthropist of the Gilded Age. In 1889, she and Ellen Gates Star established a secular settlement house in Chicago known as Hull-House.

The neighborhood was a melting pot of struggling immigrants, and Hull-House provided everything from midwife services and basic medical care to kindergarten, day care and housing for abused women. It also offered English and citizenship classes. Addams received the Nobel Peace Prize in 1931.

Carrie Nation

Temperance leader Carrie Nation gained notoriety during the Gilded Age for smashing up saloons with a hatchet to bring attention to her sobriety agenda. She was also a strong voice for the suffrage movement.

Nation's belief that alcohol was the root of all evil was partially due to her difficult first marriage to an alcoholic, and her work with women and children displaced or abused by over-imbibing husbands.

Convinced God had instructed her to use whatever means necessary to close bars throughout Kansas, she was often beaten, mocked and jailed but ultimately helped pave the way for the 18th Amendment (prohibiting the sale of alcohol) and the 19th Amendment (giving women the right to vote).

Limits to Power

Many other pivotal events happened during the Gilded Age which changed America's course and culture. As muckrakers exposed corrupt robber barons and politicians, labor unions and reformist politicians enacted laws to limit their power.

The western frontier saw violent conflicts between white settlers and the United States Army against Native Americans. The Native Americans were eventually forced off their land and onto reservations with often disastrous results. In 1890, the western frontier was declared closed.

Populist Party

As drought and depression struck rural America, farmers in the west-who vilified railroad tycoons and wanted a political voice-organized and played a key role in forming the Populist Party.

The Populists had a democratic agenda that aimed to give power back to the people and paved the way for the progressive movement, which still fights to close the gap between the wealthy and poor and champion the needy and disenfranchised.

End of the Gilded Age

In 1893, both the overextended Philadelphia and Reading Railroad and the National Cordage Company failed, which set off an economic depression unlike any seen before in America.

Banks and other businesses folded, and the stock market plunged, leaving millions unemployed, homeless and hungry. In some states, unemployment rose to almost 50 percent.

The Panic of 1893 lasted four years and left lower and even middle-class Americans fed up with political corruption and social inequality. Their frustration gave rise to the Progressive Movement which took hold when President Theodore Roosevelt took office in 1901.

Although Roosevelt supported corporate America, he also felt there should be federal controls in place to keep excessive corporate greed in check and prevent individuals from making obscene amounts of money off the backs of immigrants and the lower class.

Helped by the muckrackers and the White House, the Progressive Era ushered in many reforms that helped shift away power from robber barons, such as:

trust busting

labor reform

women's suffrage

birth control

formation of trade unions

increased conservation efforts

food and medicine regulations

tax reform

civil rights

election reform

fair labor standards

By 1916, America's cities were cleaner and healthier, factories safer, governments less corrupt and many people had better housing, working hours and wages. Fewer monopolies meant more people could pursue the American Dream and start their own businesses.

When America entered World War I in 1917, the Progressive Era and any remnants of the Gilded Age effectively ended as the country's focus shifted to the realities of war. Most robber barons and their families, however, remained wealthy for generations.

Even so, many bequeathed much of their wealth, land and homes to charity and historical societies. And progressives continued their mission to close the gap between the wealthy and poor and champion the needy and disenfranchised.

Sources

Chicago Workers During the Long Gilded Age. The Newberry.
Gilded Age Reform. University of Virginia.
The Doll House: Wealth and Women in the Gilded Age. Journeys Into the Past: An Online Journal of Miami University's History Department.
The Gilded Age. Scholastic.
About Jane Addams. Jane Addams Hull-House Museum.
Carrie A. Nation (1846-1911). The State Historical Society of Missouri: Historic Missourians.
Lincoln Steffens Exposes "Tweed Days in St. Louis." History Matters.
The Breakers. The Preservation Society of Newport County.
The Progressive Era (1890-1920). The Eleanor Roosevelt Papers Project.
Biltmore Estate History. Biltmore.
Margaret Olivia Sage. Philanthropy Roundtable.

Fact Check

We strive for accuracy and fairness. But if you see something that doesn't look right, click here to contact us! HISTORY reviews and updates its content regularly to ensure it is complete and accurate.

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The Gilded Age describes the tumultuous years between the Civil War and the turn of the 20th century when America saw unprecedented growth in industry and technology and when greedy, corrupt industrialists, bankers and politicians enjoyed extraordinary wealth.

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How the Gilded Age Led to the Progressive Era

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How the Gilded Age Led to the Progressive Era

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Propelled by a Second Industrial Revolution, the United States arose from the ashes of the Civil War to become one of the world's leading economic powers by the turn of the 20th century. Corporate titans such as Andrew Carnegie, John D. Rockefeller and J.P. Morgan amassed spectacular fortunes and engaged in the most conspicuous of consumptions. Beneath this golden veneer, however, American society was tarnished by poverty and corruption, which caused this period of American history to be called the "Gilded Age," derived from the title of an 1873 novel co-authored by Mark Twain.

Protected from foreign competition by high tariffs, American industrialists colluded to drive competitors out of business by creating monopolies and trusts in which groups of companies were controlled by single corporate boards. Political corruption ran amok during the Gilded Age as corporations bribed politicians to ensure government policies favored big businesses over workers. Graft fueled urban political machines, such as New York's Tammany Hall, and the Whiskey Ring and Crédit Mobilier scandals revealed collusion by public officials and business leaders to defraud the federal government.

As the rich grew richer during the Gilded Age, the poor grew poorer. The great wealth accumulated by the "robber barons" came at the expense of the masses. By 1890, the wealthiest 1 percent of American families owned 51 percent of the country's real and personal property, while the 44 percent at the bottom owned only 1.2 percent.

The Populist Party Pushes for Reforms

Many Gilded Age workers toiled in dangerous jobs for low pay. Approximately 40 percent of industrial laborers in the 1880s earned below the poverty line of $500 a year. With such a yawning chasm between "haves" and "have-nots," workers fought back against the inequality by forming labor unions. Industrial strikes occurred with greater frequency-and greater violence-following the Great Railroad Strike of 1877. During the 1880s alone, there were nearly 10,000 labor strikes and lockouts.

The belief that big businesses had too much power in the United States led to a backlash. The passage of the Tariff Act of 1890, which hiked import duties to nearly 50 percent and raised consumer prices, sparked an agrarian political rebellion that gave rise to the People's Party, known as the " Populists." The party advocated for government ownership of railroad and telephone companies, a graduated income tax, shorter workdays and the direct election of senators. In the 1892 presidential election, Populist candidate James Weaver won 22 electoral votes.

When the Panic of 1893 launched what was at the time the worst economic downturn in American history, President Grover Cleveland was forced to borrow $65 million in gold from financiers including Morgan to keep the federal government afloat, further highlighting corporate power in American society.

"It is no longer a government of the people, by the people and for the people," proclaimed Populist leader Mary Elizabeth Lease, "but a government of Wall Street, by Wall Street and for Wall Street." The victory of Tariff Act of 1890 sponsor William McKinley in the 1896 presidential election marked the effective end of the People's Party, but it foreshadowed the Progressive Era to come.

Theodore Roosevelt Ushers in the Progressive Era

Some historians point to the 1890s as the start of the Progressive Era, but the ascent of Theodore Roosevelt to the presidency after McKinley's assassination marked its definitive arrival. Like the Populists, Progressives advocated democratic reforms and greater governmental regulation of the economy to temper the capitalistic excesses of the Gilded Age. Historian Richard Hofstadter wrote that the Progressive movement sought to "restore a type of economic individualism and political democracy that was widely believed to have existed earlier in America and to have been destroyed by the great corporation and the corrupt political machine."

Unlike previous presidents, Roosevelt vigorously enforced the Sherman Antitrust Act to break up industrial behemoths. The "trust buster" was also the first president to threaten to use the army on behalf of labor in a 1902 coal miners' strike. Roosevelt easily won re-election in 1904 campaigning on a "Square Deal" platform to control corporations, conserve natural resources and protect consumers.

Investigative journalists, writers and photographers spurred Progressive reforms by exposing corporate malfeasance and social injustice. These "muckrakers" included Ida Tarbell, whose investigation of Rockefeller led to the breakup of the Standard Oil Company monopoly. Upton Sinclair's 1906 novel The Jungle about working conditions in the meatpacking industry sparked the passage of the Meat Inspection Act and Pure Food and Drug Act in 1906.

Progressive Political Reforms Expand Voting Rights

In states across the country, Progressives pushed for greater democratization of government and the expansion of voting rights in order to reduce the power of political machines.

In 1903, Wisconsin became the first state to implement direct primary elections, and the state's governor, Robert La Follette, was among Progressives championing the enactment of initiatives and referendums, which allowed citizens to propose and vote directly on legislation.

Progressive reforms continued under Roosevelt's successor, William Howard Taft, who combined tariff reduction legislation with support for the 16th Amendment to the U.S. Constitution, which established a federal income tax. Even though Democrat Woodrow Wilson defeated both Taft and Roosevelt in the 1912 presidential election, he enacted a Progressive agenda that included the creation of the Federal Reserve Board and the Federal Trade Commission as well as the passage of the Clayton Antitrust Act, which further limited the ability of companies to form monopolies.

Additional democratic reforms came into force with the 17th Amendment, which required the direct election of senators, and the 19th Amendment, which guaranteed women the right to vote. Many Progressives also supported the temperance movement and pushed for the enactment of Prohibition, which came into effect with the 18th Amendment. World War I marked the decline of the Progressive Era, which came to an end with the start of the Roaring Twenties.

Fact Check

We strive for accuracy and fairness. But if you see something that doesn't look right, click here to contact us! HISTORY reviews and updates its content regularly to ensure it is complete and accurate.

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How Gilded Age Corruption Led to the Progressive Era | HISTORY

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Corruption and inequality during the Gilded Age spurred Progressive Era political and economic reforms.

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Copyright © 2005-2020 PowerSchool Group LLC and/or its affiliate(s). All rights reserved. All trademarks are either owned or licensed by PowerSchool Group LLC and/or its affiliates.

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UNIT 2 - INDUSTRIALIZATION THROUGH PROGRESSIVISM

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EWINGS US HISTORY Learn with flashcards, games and more — for free.

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Join a game of kahoot here. Kahoot! is a free game-based learning platform that makes it fun to learn – any subject, in any language, on any device, for all ages!

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Join a game of Blooket to answer questions and compete in a fierce clash to determine who is the best and what Blook will come out victorious.

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For Transcripts, please go to Schoololgy

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Episode 201 - SESSION 2 INTRO by Good or Bad, It’s Still Our Story

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On today’s episode, we examine the end of Westward Expansion and the next stages in our history.

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LOG IN THROUGH CLEVER

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Easily create beautiful interactive video lessons for your students you can integrate right into your LMS. Track students' progress with hassle-free analytics as you flip your classroom!

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progressive erathe progressive era (generally

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the first two decades of the twentieth century) was a period of change that began in america's urban areas. the federal government passed laws regarding labor

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and housing. the progressive era was different from the previous years mostly because of a change in the attitude toward social class.

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Progressive EraThe Progressive Era (generally, the first two decades of the twentieth century) was a period of change that began in America's urban areas. The federal government passed laws regarding labor, women's rights, railroads, the food industry, politics, education, and housing.

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Sign in with your organizational account

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PowerPoint - Monday, Oct 17/Tuesday, Oct 18

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PowerPoint - Monday, Oct 17/Tuesday, Oct 18

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The changing perception (view) of the Great Plains

In the decades after the Civil War, from 1865 until the early 1900s, hundreds of thousands of Americans moved into the area of the West called the Great Plains.

Before the Civil War, most people going to the West passed right over the Great Plains. They considered the area a vast treeless wasteland. Their goal was to get to the far West - usually California or Oregon.

After the Civil War, the perception of the Great Plains changed. There were many new inventions, adaptations, and technological advances that made it possible to farm the land in that area. Some examples are shown in the photographs below.

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Settling the Great Plains: Inventions and Adaptations

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The changing perception (view) of the Great Plains In the decades after the Civil War, from 1865 until the early 1900s, hundreds of thousands of Americans moved into the area of the West called the Great Plains. Before the Civil War, most people going to the West passed right over the Great Plains.