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  • Submitted By: Cmaria13432
  • Date Submitted: 02/22/2009 10:04 AM
  • Category: Science
  • Words: 882
  • Page: 4
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The Producing Classes and the Money Power-The Decade of Hard Times, Struggle, and Defeat 1893-1904
• May 1,1893 Chicago opened their World’s Columbian Exposition to the public
• The artists and architects who designed the “White City” proclaimed that it was going to be the new renaissance
• Yet it wasn’t because the city was not made out of marble like the old building in renaissance times because they were made of wood covered in white plaster
• An even deeper contradiction lay outside the fair grounds, as the grounds opened, factory gates swung closed and the nation plunged into one of the biggest depressions
• Industrial workers and activist farmers responded to hard times with militant action and with radical electoral campaigns, organizing the most successful political movements outside the major parties in American history
• The campaigns were built upon the solidarity and the cooperative vision of the struggles of the 1880s
• These movements however would be defeated by the end of the century
• Immigrants and southern blacks faced a rising tide of nativism and racism
• From these campaigns a founding of US capitalism
The Depression of the 1890’s
• May 3, 1893 the stock market crashed
• By that year’s end about 500 banks and 16000 businesses were bankrupt
• The railroads not only brought economic growth was now the main cause of the depression
• By the middle of 1894 more than 150 railroad companies were also bankrupt
• This stimulated trouble in other industries
• This depression also showed the weakness of the agricultural industries and how they were tied to the industrial market economy
• This was the fourth biggest depression in American history
• The depression in American history get worse each time
• Because of the growth in population more people suffered each time
• Even people who didn’t own stocks were affected because of their dependency on industrial goods
• In 1893 3 million people had lost their jobs
• In Chicago...