It's the late Victorian Era, and the English nobility are having a rough time of things. Many of them are trapped with vast crumbling estates, huge debts, and little to no money. There's been an economic and agricultural depression, and country landlords are finding that their tenants can no longer pay rent. Things are pretty bleak, and all around the country, and ancient noble families are having to close the doors of their country homes and downsize.
1870s New York Society was ruled by Mrs. Caroline 'Lina' Astor, and her crony Ward McAllister. Lina and McAllister were both part of the 'Knickerbockers', a stratification of New York society. To be a Knickerbocker, one had to be descended from the original Dutch settlers of New Amsterdam, and be very, very wealthy. Additionally, one's wealth couldn't come from something vulgar like railroads or manufacturing. It had to come from something aristocratic, like landowning and already being wealthy.
The railroad and manufacturing magnates didn't fit the mold, and the Knickerbockers were determined to keep them out. While it was possible for a noveaux riche to gain entre to society, it was extremely difficult, and the society courting system heavily favored the daughters of the Knickerbockers. This incensed many of the noveaux riche parents, particularly the mothers, who wanted their daughters to have all the privileges and advantages they themselves had never had. In order to give their daughters these advantages, their mothers decided to skip New York Society, and do one better--they decided to marry their daughters off to members of the English Aristocracy.
This idea was not totally unfounded. While there were still some serious ill feelings between the United States and the United Kingdom (the United Kingdom had, after all, supported the South during the Civil War, attacked the United States in 1812, and it was less than 100 years since the American Revolution), having a noble or royal title still meant something in the United States, especially among the members of New York Society. Mrs. Astor and her friends wanted to create their own sort of aristocracy, and they admired little more than actual aristocracy.²
Across the ocean, these young ladies and their iron willed mothers were surprised to find themselves received into British Society with relatively open arms. The wealth, style, and glamour of the American girl made her fascinating to the British Lords, who were used to the quiet, reserved English girls. Throw in the fact that Albert, Prince of Wales and leader of fashion, ADORED American girls, and marrying an American became all the rage.
The Prince of Wales plays a big part in the success of these American women in English society. Because Queen Victoria had largely withdrawn from society, it fell to her son to be the leader of fashion and society, and this was a role Albert reveled in. He loved big parties, heavy drinking, and lots of sex, much to the disapproval of his mother. Albert had found that the wealthy Americans were much better able to host him, and that American manners much better suited his sense of fun. He became good friends (and lovers) with many of the first Dollar Princesses, and was responsible for the introduction and popularization of most of them in society.
Consuelo Vanderbilt.
For this reason, as well as a few others, marriages between society heiresses and destitute noblemen weren't incredibly popular with the American people, though they were obviously popular with the families in question. Americans, for all their love of the glitter of society weddings, did not like the idea of an arranged marriage. It was common to marry for love, or at least affection in America, and the idea that a nobleman would marry an American girl for her money and not for her personality repulsed the public. Additionally, the idea that hard earned American dollars were going into funding the crumbling institutions that had so recently oppressed them was unpopular with Americans. As the 1900s dawned the prominence of international unions led many Americans to despair that the English were stealing all the American heiresses.
The 'Dollar Princess' is a major character in fiction. From Edith Wharton's Buccaneers to Lady Grantham of Downton Abbey, Dollar Princesses figure heavily in period pieces set in the Edwardian Era/Gilded Age/Belle Epoque. In real life, the descendants of these ladies still occupy a high place in British Society. Prince William, heir to the heir to the throne³, is the great-great grandson of Frances Work, the daughter of a stock-broker. Winston Churchill, Prime Minister during WWII was the son of Jennie Jerome, one of the first Dollar Princesses.
Aside from the children they left behind, the Dollar Princesses left a huge imprint on both their home and adopted countries. Not only did their marriages induce anglomania in the United States, but it also cemented alliances between the United States and United Kingdom. Though it was not the intention, these marriages functioned much as many political marriages of the time. They essentially married two countries together, forming an alliance that, to this day, is still one of the most important diplomatic ties for each country.
¹In the North that is. The South is undergoing Reconstruction which pushed the region into an economic slump that still affects it to this day.
² In theory anyways. In practice, most Americans found members of nobility, especially the English nobility, to be severely lacking in moral fiber.
³ It is, however, unlikely that William will ever become king, as Queen Elizabeth II is seemingly immortal.
Sources
To Marry an English Lord by Gail MacColl and Carol Mc.D Wallace
The Glitter and the Gold by Consuelo Vanderbilt Balsan
A Look Back at the 'Dollar Princess'
Dollar Princesses
Topics in Chronicling America-- 'Dollar Princess'
The Gilded Age's Real Life 'Dollar Princesses'
How American Dollar Princesses Changed British Nobility
Gilded Age Heiresses
1870s New York Society was ruled by Mrs. Caroline 'Lina' Astor, and her crony Ward McAllister. Lina and McAllister were both part of the 'Knickerbockers', a stratification of New York society. To be a Knickerbocker, one had to be descended from the original Dutch settlers of New Amsterdam, and be very, very wealthy. Additionally, one's wealth couldn't come from something vulgar like railroads or manufacturing. It had to come from something aristocratic, like landowning and already being wealthy.
This idea was not totally unfounded. While there were still some serious ill feelings between the United States and the United Kingdom (the United Kingdom had, after all, supported the South during the Civil War, attacked the United States in 1812, and it was less than 100 years since the American Revolution), having a noble or royal title still meant something in the United States, especially among the members of New York Society. Mrs. Astor and her friends wanted to create their own sort of aristocracy, and they admired little more than actual aristocracy.²
Across the ocean, these young ladies and their iron willed mothers were surprised to find themselves received into British Society with relatively open arms. The wealth, style, and glamour of the American girl made her fascinating to the British Lords, who were used to the quiet, reserved English girls. Throw in the fact that Albert, Prince of Wales and leader of fashion, ADORED American girls, and marrying an American became all the rage.
The Prince of Wales plays a big part in the success of these American women in English society. Because Queen Victoria had largely withdrawn from society, it fell to her son to be the leader of fashion and society, and this was a role Albert reveled in. He loved big parties, heavy drinking, and lots of sex, much to the disapproval of his mother. Albert had found that the wealthy Americans were much better able to host him, and that American manners much better suited his sense of fun. He became good friends (and lovers) with many of the first Dollar Princesses, and was responsible for the introduction and popularization of most of them in society.
Consuelo Vanderbilt.
For this reason, as well as a few others, marriages between society heiresses and destitute noblemen weren't incredibly popular with the American people, though they were obviously popular with the families in question. Americans, for all their love of the glitter of society weddings, did not like the idea of an arranged marriage. It was common to marry for love, or at least affection in America, and the idea that a nobleman would marry an American girl for her money and not for her personality repulsed the public. Additionally, the idea that hard earned American dollars were going into funding the crumbling institutions that had so recently oppressed them was unpopular with Americans. As the 1900s dawned the prominence of international unions led many Americans to despair that the English were stealing all the American heiresses.
The 'Dollar Princess' is a major character in fiction. From Edith Wharton's Buccaneers to Lady Grantham of Downton Abbey, Dollar Princesses figure heavily in period pieces set in the Edwardian Era/Gilded Age/Belle Epoque. In real life, the descendants of these ladies still occupy a high place in British Society. Prince William, heir to the heir to the throne³, is the great-great grandson of Frances Work, the daughter of a stock-broker. Winston Churchill, Prime Minister during WWII was the son of Jennie Jerome, one of the first Dollar Princesses.
Aside from the children they left behind, the Dollar Princesses left a huge imprint on both their home and adopted countries. Not only did their marriages induce anglomania in the United States, but it also cemented alliances between the United States and United Kingdom. Though it was not the intention, these marriages functioned much as many political marriages of the time. They essentially married two countries together, forming an alliance that, to this day, is still one of the most important diplomatic ties for each country.
¹In the North that is. The South is undergoing Reconstruction which pushed the region into an economic slump that still affects it to this day.
² In theory anyways. In practice, most Americans found members of nobility, especially the English nobility, to be severely lacking in moral fiber.
³ It is, however, unlikely that William will ever become king, as Queen Elizabeth II is seemingly immortal.
Sources
To Marry an English Lord by Gail MacColl and Carol Mc.D Wallace
The Glitter and the Gold by Consuelo Vanderbilt Balsan
A Look Back at the 'Dollar Princess'
Dollar Princesses
Topics in Chronicling America-- 'Dollar Princess'
The Gilded Age's Real Life 'Dollar Princesses'
How American Dollar Princesses Changed British Nobility
Gilded Age Heiresses