What was new money and old money in 1912?

In 1912, "old money" referred to families and individuals who had inherited wealth through generations, often associated with established social status and traditional values, like the Vanderbilts or Rockefellers in the United States. In contrast, "new money" described those who had recently acquired their wealth, usually through entrepreneurship or industry, such as tycoons from the burgeoning fields of railroads, steel, or oil. The distinction highlighted societal divisions, with old money often looking down upon new money for lacking refinement and pedigree. This tension reflected broader themes of class and social mobility during that era.