New Wealth of the Late Nineteenth Century

AP The New Wealth of the Late Nineteenth Century The New Industrial Revolution brought forth a flourishing new amount of wealth in America. This wealth, though, was concentrated among a select few. This led to a sharp gap in between the wealthy and the poor. By the 1890s, the richest ten percent of the U.S. population controlled nine-tenths of the nation’s wealth. Industrialization produced a new class of millionaires. The United States Steel …

…honesty. Andrew Carnegie, the primary rags-to-riches example, believed that the wealthy should be distributed their surplus money to the public in the form of civic philanthropy. Booker T. Washington taught his black students that the way to total political and civil rights was by first developing educationally and economically. These three men all viewed the new wealth as a positive aspect of the time period and used the wealth to advocate beliefs of their own.