• Raisonné & Hammer Price

1873’s Paradox of an Unfolding Invigoration to Come

Updated: Dec 30, 2018

Economists and Analysts call 1873 both the Industrial Transformation and the Panic, but the beauty of that era was the overwhelming, polychromatic explosion of creative genius.


As the Transcontinental Railroad turned into an overbuilding of railways, Charles Nordoff’s popular book “California: For Health, Pleasure, and Residence” inspired a boom in Central California real estate and tourism. While the U.S. experienced one of its worst Stock Market crashes from the extreme deflation of freight commodities, an awe-inspiring list of global dreamers exploded onto the scene with mind bending creations. Vienna, Austria was the fulcrum of the Crash while simultaneously building one of the most stunning pieces of architecture in the world, the Burgtheater, also while hosting the World Exhibition as well. Jules Verne published both “Around the World in Eighty Days” and “Twenty Thousand Leagues Under the Sea”. The feats of the railroads must have created a frenzy of open-minded dreams that had realistic results on a never-before scale. Alexander Graham Bell worked on his harmonic telegraph and created the phone. Even the gun company Remington started to also make high quality typewriters with the same order of letter keys we use today. Levi Strauss brought us the blue jeans and Heineken started making beer. All of this in 1873. Tennis was invented by Walter Wingfield and Color Photography was developed by Hermann Wilhelm Vogel. The U.S. passed the Timber Culture Act to inspire tree planting and to help create more rain and more buildings. The cost of living in California was the cheapest in the nation, and 1/3 the cost of the eastern states.


Mark Twain published the “The Gilded Age” which encapsulated the era. Carnegie Steel started its cutting edge progress, J.P. Morgan became the King of Finance, and of course in the middle of all this greatness, 89 of the 364 railroads went bankrupt, unemployment hit a staggering 14%, and 18,000 businesses went under. This period remains one of the most misunderstood and debated in all of American history. However, a methodology with congruent logic does emerge out of all this. Many of us can relate to it on both a personal level and on a relevant level today. Our Information age of Internet framework has an estimated 5.22 billion different webpages that are searchable, and likely many more that are not. If there could ever be such a thing as an overbuilt Internet, or TMI, then that could be the time to reallocate assets to more fundamental, core, essential holdings and more elaborate, creative, beautiful, quality assets. Digital freight is not the same as old school freight but the pattern is Erie-ly similar. Digital freight deflation will hopefully create more than just financial stress but also an unfolding of untold, functional beauty. “Creating a garden starts as an interest and soon becomes a lifetime’s obsession. One that can be engaged on a moment’s notice, by simply stepping outside. A true gardener can create more happiness propagating life in one seed and seeing that single flower unfold.” - This Beautiful Fantastic. Today, the Burgtheater produces about 20 premieres every year with every single production being a new creative adventure. Everyone approaches their work there as an artist. And the strong railroads of quality have survived.


References

Dark Genius of Wall Street”, Renehan.

The Path Between the Seas”, McCullough.

Into the West, The Story of its People”, Nugent.

The Timetables of History”, Grun.

The House of Morgan”, Chernow.

The Vital Few, The Entrepreneur & American Economic Progress”, Hughes.

 “The History of the Southern Pacific”, Yenne

http://www.ushistory.org/us/36d.asp

https://www.levistrauss.com/our-story/

https://www.heineken.com/us/agegateway?returnurl=%2fgb%2fwe-are-heineken%2fheineken-story

https://www.burgtheater.at/en/

https://www.biography.com/people/alexander-graham-bell-9205497

https://chelseawald.com/2014/10/a-magnificent-failure-the-1873-world-exhibition-in-vienna.html

https://www.thoughtco.com/who-invented-tennis-1991673

https://memory.loc.gov/ammem/amlaw/lwsllink.html

http://www.foundsf.org/index.php?title=The_Railroads_Are_Coming_1860-1873

https://www.loc.gov/item/14022123/

https://mises.org/library/americas-greatest-industrial-transformation

https://www.worldwidewebsize.com

“This Beautiful Fantastic”, Movie Script

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