Mark Twain coined the term “the Gilded Age” in the novel of that title written in collaboration with Charles Dudley Warner and published in 1873. The only criticism I can bring to this succinct and suggestive phrase is that its definite article implies the era was unique in American history. We now find ourselves in another period of vast capitalist accumulation and staggering political corruption. (Hundreds of millions circulate mysteriously through “super PACs” of recent vintage.) In a society where everything has a dollar value, the ultimate goal has become the concentration of the most wealth in the fewest hands, whenever possible with the assent of an electorate reeling from the latest scam.
“Gilded Age” is a reminder that certain key elements of American society have been with us for a very long time. This montage of historical photographs and cartoons from the Library of Congress asks questions—where does money come from? where does it go?—and provides an answer or two. Perhaps one day cash will disappear, and people will fetishize pieces of currency strictly as collector’s items, as they now do old silver and gold certificates. I suspect this agenda will fulfill itself only in the distant future in the United States, where even replacing the humble dollar bill with coins has met with decisive resistance. Venality, whatever material form it takes, is unlikely to go away in any but the most utopian society, and these days, utopia seems very far away indeed.