United States 1873

Synopsis

After the economic devastation wrought by the panic of 1837, unions remained unable to regain their former power for several decades. Although scattered national unions took root during the 1850s, they faded quickly during the Civil War. The beginning of the "Greenback" era in 1862 also marked the renewed growth of unionism in America. The government flooded the marketplace with paper currency. Extreme levels of inflation immediately resulted, and prices continued to rise unchecked. Wage increases did not rise in proportion to the rate of inflation. This caused dissatisfaction within the labor force, which in turn resulted in a renewed interest in unionism.

Mimicking the same progression as its previous growth at the beginning of the nineteenth century, this new labor movement began with the formation of local trade unions. By the end of 1862, virtually every trade possessed a representing union in its city. These...