Well, if this were to somehow happen, you'd have a century of high society old money types never being in any financial trouble. There'd be no world wars, just a (somehow) constant simmer between world powers over various colonial holdings. The poor would stay poor, and the rich would stay rich, and the middle class would shift up and down just a bit.
I mean if you want to picture a world that is culturally 1890 but technology-wise modern, just picture the 1890's with cellphones, air conditioning, and the Internet. Only it would just be the rich who would have cellphones, and the butlers would print out each email and deliver it to the master on a silver tray.
"E-mail, sire..."