For Richer or Poorer: The Gold Standard in America

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As of this writing, America is experiencing the highest inflation rate in 40 years. Inflation shot up from 1.7% in 2020 to about 7% in 2021 and 2022, with the highest rate in 2022 being 9.1% in June! In spite of the fact that we’re shelling out more money at the grocery store (a friend of mine recently reported she spent over $100 on baking supplies for the holidays), the 7% this year is peanuts compared to 1920, when the nation had almost 24% inflation, or after the American Revolution in 1778 when inflation was 30%.

But there is one way to fight inflation: create a gold standard. This is exactly what people in the Gilded Age and Progressive Era did, though the results weren’t favorable to all. The concept of the gold standard is very difficult to explain and for people to wrap their heads around, so bear with me while I try to outline what it is and why it failed.

In 1900, Congress passed the Gold Standard Act which meant the value of American money was tied to the value of gold. Until then, the currency exchange was based on bimetallism (gold and silver). That meant people were able to buy gold or silver coins with paper money, which was to their advantage because these precious metals were much more stable in their value over time, whereas the value of paper money was basically determined by what federal or state officials determined it to be worth. It was also not an international currency (just as today when we can’t use British pounds to do our Walmart shopping in Cleveland) and it wasn’t even always, at that time, transferable from state to state, since states had their own paper money. So if you moved from Vermont to California and tried to cash a $20 Vermont bill in a California bank, you weren’t guaranteed to get the full $20 value of that bill in exchange.

The gold standard also meant silver was no longer an accepted exchange for paper money. People could only buy gold coins. There were a few problems with this. First, gold coins were in limited supply. Second, since gold was valued at the time at about $22.00 an ounce, people needed to shell out $22 in paper money for one ounce of gold ($1 bought them about 25 grams worth of gold). 

Why did people even want to buy gold coins when they paid much more for them with paper money? Why didn’t they just keep the paper money? Because at that time, paper money was very unreliable in terms of value, as I explained above. Also, gold and silver were precious metals and scarce compared to paper money so they were worth more and their worth didn’t fluctuate as much.

The gold standard was such a hot-button issue that this campaign poster for the Republican party (with William McKinley as the presidential nominee and Theodore Roosevelt as the vice-presidential nominee) put the party’s support of the gold standard as the top political issue on their party’s agenda during the campaign.

Photo Credit: Headshots of William McKinley and Theodore Roosevelt against the American flag for a Republican party campaign poster during the 1900 elections, Library of Congress: Picryl/Public Domain

The gold standard became a major political issue in the Progressive Era because it was tied to class. The poor and working class were usually paid in paper money and used paper money to buy their goods, and since the value of paper money was now tied to the gold standard, they had to pay more for their purchases. For example, if something cost $2 gold coins, they would have to pay $44 in paper money for it. 

Hence, the Populist movement was born. This movement largely consisted of farmers and poor people who wanted to convince congress to go back to the bimetal standard (because silver was valued less than gold and they were able to secure silver coins more easily than gold.) In 1896, the Populists merged with the Democratic party, as the two shared several items on their political agenda such as limiting the number of terms a president could serve and advocating an eight-hour work day, as well as the call for bimetallism. This accumulated in Democratic candidate William Jennings Bryan’s moving and rallying “Cross of Gold” speech.  

Bryan ran for president in the Gilded Age and Progressive Era with bimetallism as one of his main themes three times and lost three times. But then, so did the gold standard, eventually. It was withdrawn in the early 1930s by FDR in an effort to combat the Great Depression. From the post-World War II era to the 1970s, the gold standard did make a comeback, but in 1971 Nixon abolished it, both to combat the inflation at the time and to keep foreign governments from buying up American gold supply with their dollars. 

In my upcoming new release, The Mystery of the Golden Cat, the Gold Standard Act is in full force (the book takes place in 1904) and not everyone is happy about it. For one person, it leads indirectly to crime. Though the book comes out at the end of this month, it’s at a special preorder price now, so don’t wait to snag your copy!

If you love fun, engaging mysteries set in the past, sign up for my newsletter to receive a free book, plus news about upcoming releases, fun facts about women’s history and mystery, and more freebies! You can sign up here

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The Theft Made the Mona Lisa Notorious

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The Mona Lisa has been scrutinized and poeticized and theorized for decades, even centuries. It’s probably one of the most famous paintings in all the world, if not the most famous painting. And yet, before the 1910s, it wasn’t that big a deal. Thousands of people had been through the Louvre and caught a glimpse of it in a row with other paintings of similar size. 

It might be a little hard to tell here, but the space on the wall is where the Mona Lisa was discovered missing after the theft. As you can see, the painting was hardly a standout among other paintings at that time. It sat below the massive painting of Paolo Veronese’s The Feast in the House of Simon the Pharisee (a painting, ironically, that was seized by Napoleon and his men illegally during the Napoleonic wars), which got top billing in the display.

Photo Credit: The Mona Lisa’s vacant place in the Salon Carre after it was stolen in 1911, unknown author, Century Magazine, 1914 February, The Century Company: Meidosensei/Wikimedia Commons/PD anon expired 

So what happened to make the Mona Lisa warrant a wall of her own with a heavy wooden railing and bulletproof glass to protect her? In a word: theft.

Many people aren’t aware the Mona Lisa was stolen in 1911. And not by some world-renowned professional gang of thieves or a highly skilled and experienced cat burglar either. It was a working man, an everyday house painter, who walked off with the Mona Lisa.

An Italian immigrant working in France by the name of Vincenzo Peruggia stole the Mona Lisa. He had been arrested twice before, once for theft (though he claimed it was a misunderstanding) and once for not having his immigration papers on him. He was highly suspicious of the French, who showed a lot of xenophobia at that time, especially against the Italians, who were the largest immigrant group at that time. There are theories he was psychologically unbalanced due to lead poisoning from the paint he used in his job as a house painter. Yet, he managed to steal the Mona Lisa (painting only – he left the frame on the service stairs of the Louvre) and keep it hidden for two years.

Why he stole it is still a mystery. One theory is that it was an act of patriotism. Tensions were heating up in Europe, especially between France and Germany, and Italy, tensions that would eventually cause the outbreak of WWI in 1914. Peruggia, as mentioned earlier, had been subject to a lot of ridicule and prejudice in France for being Italian. His coworkers had nicknamed him “Macaroni” and he vowed one day to show them just who was a “macaroni.” In addition, the Mona Lisa was painted by an Italian — Leonardo da Vinci — and it was believed at the time France acquired it illegally during the Napoleonic wars when it was known Napoleon and his army would loot a conquered city of its precious artifacts and ship them to France. This story turned out to be untrue (da Vinci left all his works to his assistant, who later sold them to representatives of European monarchs, including the King of France) but maybe Peruggia wanted to believe it to have a reason to steal the painting.

Others surmise it was purely for money. Though the Mona Lisa didn’t have the notoriety it has today, it was still pretty famous and could fetch a cool $5 million at that time by some estimates (today the Mona Lisa is estimated to be worth more than a quarter of a billion dollars.) 

Whatever the reason, this relatively small painting (roughly, 2 1/2 x 2 feet – compare with the Last Supper, which is roughly 15 x 29 feet) became a celebrity of its own after it was discovered missing. Media mayhem ensued and a frantic international search began, though it lasted only a few months. After that, all became quiet until 1913, when the painting showed up and Peruggia was apprehended.

Want the full details of this fascinating crime that didn’t involve murder? I’ll be doing a series of newsletters next month where I’ll be exploring all the ins and outs to celebrate the release of Book 4 of my Adele Gossling Mysteries (which is also about the theft of precious items, though none as precious as the Mona Lisa) on January 28, 2023. If you’re not a subscriber of my newsletter, now is a great time to join and find out all about the Mona Lisa heist. And you’ll get a free book when you do!

And if you’re into thieves and golden cats, check out Book 4, which is now at a special preorder price, here

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Ghosts From the Past: Penelope Alderdice in The Specter

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My historical family saga, the Waxwood Series is about more than just an affluent Nob Hill family coming to grips with the startling changes happening in the last decade of the 19th century. It’s also a story about a Gilded Age family whose lies, half-truths, and myths force every one of its members to change. And it begins not with the current generation but with the previous generation.

It begins with Penelope Alderdice, protagonist Vivian’s grandmother. Penelope, in spite of her old-fashioned name, is one of the most evolutionary characters in the series. When I wrote the novel on which this series was based back in 2014, she wasn’t even a character. When I turned the novel into a family saga, I added the grandparents because, by definition, family sagas tell the story of several generations. I wanted to write a series about generational trauma: The trauma past generations pass down to present and future generations. As this is something I’ve experienced first-hand, the topic is very close to me. I knew Vivian’s story of breaking the cycle would only be meaningful if readers knew where that cycle began. 

Since this post is about grandmothers, I thought I’d show a few photos of my own. The first is my grandmother and grandfather with me in 2011, the year they both passed away. The second is of my great-grandmother (whom many in my family say I resemble in looks and personality). I don’t know when this photo was taken but she died in 1966 so probably sometime in the late 50s or early 60s.

In 2017, I started my newsletter and wanted to give subscribers a free gift for signing up. So I took a scene from the old novel and expanded it into a short story called “After the Funeral”. The plot took place at Penelope Alderdice’s funeral where an uninvited guest claimed to have known “Grace” in her youth, revealing an entirely different person than the Penelope that Vivian knew. As I was developing the books in the series, I realized Penelope’s story had to be expanded into a book. That story became The Specter, the first book of the Waxwood Series.

I realized my earlier mistake in dismissing Penelope as just another Angel in the House. She was, in fact, a much more complex character, emotionally and socially. Her secrets follow Vivian like the ghost in the book’s title. Penelope’s story, which begins about halfway through The Specter, tells of the sort of woman you would expect to see in Gertrude Atherton’s The Californians, a book about  San Francisco’s high society in its infancy in the 1850s and 1860s. Penelope’s upbringing prepares her for her role as the wife of a successful San Francisco businessman, but there is more to her than that. Her one moment of rebellion in 1852 has ramifications for the entire family, past, present, and future.

What those ramifications are, you’ll have to read about in the series. But you can start with The Specter, which has been updated with a new prologue and a better pace (at the request of readers). You can get your hands on it for free here https://tammayauthor.com/books-2/waxwood-series/the-specter-waxwood-series-book-1.

If you love fun, engaging mysteries set in the past, you’ll enjoy my novella The Missing Ruby Necklace! It’s available exclusively to my newsletter subscribers and you can get it here. By signing up, you’ll also get news about upcoming releases, fun facts about women’s history, classic true-crime tidbits, and more!

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Chaos and Commerce: The Gilded Age

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Big businesses controlled the government in the Gilded Age. In this cartoon, big business is represented by “the robber barons,” the name given to railroad tycoons (and the businesses that made them possible, such as steel), pictured as bloated bags of money, lording over the tiny mice of the senate. 

Photo Credit: The Bosses of the Senate cartoon, Joseph Ferdinand Keppler. First published in Puck, 23 January 1889, lithograph, colored: P. S. Burton/Wikimedia Commons/PD Art (PD Old 100 1923)

I’ve been fascinated by the Gilded Age since 2009 when I went back to school for a short time, intending to get a Master’s degree in history, and took a course on the Gilded Age. For some reason, the Gilded Age got buried in the annals of American history in favor of other eras. Most notable were the 1920s, which made a comeback ten years or so ago when the film The Great Gatsby was released, and World War II, which still dominates the bestseller lists in the historical fiction genre.

There is some dispute as to the time frame we know of as the Gilded Age. Most historians and scholars don’t dispute it began in the 1870s. But some consider the mid-1890’s the end of the era while others push the end to 1900. For my purposes, because the new century brought about the Progressive Era, I consider 1900 as the stopping point.

The publication of Mark Twain and Charles Dudley Warner’s The Gilded Age: A Tale of Today in 1873 coined the term. Ironically, the title wasn’t meant as a label for the era but as a tongue-in-cheek dig against it that turned out to be wildly accurate. When we think of the word “gilded” we think of something that is bright and shining but also fake and misleading. With a sharp eye and sardonic humor, Twain and Warner observed what was going on around them and used it as fodder for their fiction. The book, which is actually my favorite of all Twain’s work, depicts various scoundrels, fools, and charlatans who seek success and prosperity by taking advantage of the era’s propensity for “wheeling and dealing” — and getting away with it because the American public was too naive or ignorant or both to see through them (this would be rectified in the Progressive Era). 

What was happening in America was, in the context of the time, understandable. When Twain and Dudley Warner published their book in 1873, America was going through a recession that ended with the Panic of 1873. People were determined to bounce back financially and politically to show the world the United States was anything but finished. Since finance and politics are, let’s face it, inherently dirty, many used dirty methods to do it. Stories of graft, greed, and corruption permeated every corner of American life. Money and commercial interests ruled. In an effort to encourage the kind of economic growth that could rival European markets, America became, as the saying goes, too big for its britches.

This painting represents the kind of gaudy extravagance common with the very rich during the Gilded Age, especially when they entertained.

Photo Credit: Photo Credit: Hofball in Wien. Aquarell, Wilhelm Gause, 1900, Historisches Museum de Stadt Wien: Andrew0921/Wikimedia Commons/PD Art (PD Old)

As many of us know, when Americans have money, they aren’t shy about spending it. All this wheeling and dealing created a new class of aristocrats. Novelists such as Edith Wharton and Henry James wrote about the nouveau riche (people who had recently become wealthy through business rather than inheritance) infiltrating the established societies of big cities like New York and San Francisco where “old money” families dictated what was and wasn’t socially acceptable. The recently launched series The Gilded Age is all about a young woman trying to break into the heavily guarded New York upper class.

The Gilded Age became notorious for the gaudy displays of the socially privileged. The very rich became very extravagant, sometimes ridiculously so, displaying their money and social power even in the face of the growing poverty and working-class resentments that would explode into the unions and reforms of The Progressive Era.

Perhaps it’s not surprising that Twain and Warner’s book did not do well when it was published. An important critic of the day, author William Dean Howells, thought it degenerative and disgusting. In the 21st century, the book gives us a new way of looking at social, economic, and political life with an eye toward not repeating the same mistakes (we hope!).

If you’re interested in the Gilded Age, you’ll want to check out my Waxwood Series, a family saga set in the last decade of the 19th century. It’s a great time to do that because I’ve just updated and revised Book 1, The Specter, to make it even better! And you can get it for FREE on all book vendors. For more details, go here.

If you love fun, engaging mysteries set in the past, you’ll enjoy my novella The Missing Ruby Necklace! It’s available exclusively to my newsletter subscribers and you can get it here. By signing up, you’ll also get news about upcoming releases, fun facts about women’s history, classic true-crime tidbits, and more!

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More Than Brando’s Mouthpiece: Sacheen Littlefeather

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This month is American Indian Heritage Month so I wanted to celebrate a classic Indian American actress. I came across this article from the Vintage News website in my Facebook feed last month about Sacheen Littlefeather who passed away on October 2. However, Littlefeather was known as an activist for American Indian rights more than for her acting. But what fascinated me about her story was how in 1973 she made headlines when, in Marlon Brando’s name, she went onstage to decline the Oscar he won for his role in The Godfather.

Photo Credit: Sacheen Littlefeather standing in front of the Oscar statue holding Marlon Brando’s statement declining the Oscar for The Godfather, 45th Annual Academy Awards ceremony, 27 March 1973, UCLA Library Special Collections: TarkusAB/Wikimedia Commons/CC BY 2.0

The story behind her appearance at the Oscars has now become legendary. Before the 1973 Oscars, an incident occurred at Wounded Knee where Oglala Dakota and the American Indian Movement entered the town and took over in protest of Native American inequality and were eventually driven out by law enforcement. This incident sparked Marlon Brando’s rage and prompted him to declare that if he won the Oscar for The Godfather, he would decline it in protest of how American Indians were portrayed in films and television and treated by the film industry.

When the announcement that Brando had won came, people were surprised to see a young woman appear on the stage in traditional Apache dress, holding up her hand to decline the Oscar statuette. The story goes that Brando prepared a long speech for Littlefeather to deliver but the producers of the show threatened to have her forcefully removed from the stage if she didn’t keep it to thirty seconds. Put in a difficult position, Littlefeather handled it with dignity and grace. She condensed Brando’s wordy speech to a few eloquent and respectful words as to why he was declining the Oscar (you can watch that here). She endured booing and racial slurs from the audience, and John Wayne had to be restrained from attacking her onstage. The incident got her blacklisted from Hollywood and she never worked as an actress again.

Many have criticized Brando, accusing him of being a coward and sending a young woman to do his dirty work. There’s no doubt Littlefeather showed more courage and grace than Brando in facing the hostile Oscar crowd and backstage reporters. But Littlefeather maintained it was her idea to go in place of Brando and she did it to put across her message of inequality and prejudice that many American Indians working in Hollywood had to endure at the time and she never regretted what she did. 

Let’s celebrate the courage and dignity of American Indians like Sacheen Littlefeather to stand up for their equality and heritage this month!

If you love fun, engaging mysteries set in the past, sign up for my newsletter to receive a free book, plus news about upcoming releases, fun facts about women’s history and mystery, and more freebies! You can sign up here

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