Post on 29-Mar-2015
The US develops a prosperous new economy based on the mass
production of goods.
THE RISE OF AMERICAN BUSINESS, INDUSTRY, &
LABOR: 1865—1920.
1. Transcontinental Railroad: effort to link the railroads across the US to increase trade and ease of movement.
2. Sharecropper: Former slaves who worked the plantation land & turned over crop and profit.
3. Monopoly: When one business has complete control of a field of business.
4. Trust: Group of corporations agreeing to act under one board of directors. Illegal.
5. Andrew Carnegie: Steel Industry, Pittsburgh.6. John D. Rockefeller: Standard Oil7. JP Morgan: Banking, loans. US Steel.8. Henry Ford: moving assembly line production
of automobiles.
Key Terms
9. Laissez Faire: “Hands Off”. Supported by Adam Smith. Government stays away from involvement with business.
10. Robber Baron: gain wealth by ruthless means11. Munn v. Illinois:12. Wabash, St. Louis & Pacific v. Illinois:13. Sherman Anti-Trust Act: 1890, prohibits
monopolies by declaring trusts “in restraint of commerce”
14. US v E.C. Knight Company:15. Unions: Workers acting together to gain
advances in hours, wages, benefits.16. Knights of Labor: Terrence Powderly, skilled /
unskilled workers.
Key Terms
17. AFL: American Federation of Labor, unions of skilled workers.
18. International Ladies’ Garment Workers union: Response to the Triangle Shirtwaist Tragedy, fight for working conditions in garment industry.
19. Haymarket Riot: 1886 bombing blamed on Knights of Labor, killed 7 police officers in Chicago.
20. Homestead Strike: Carnegie Workers protest wage cuts, violence leads to 16 deaths.
Key Terms
Munn v. Illinois (1877): grain elevator rates. State can regulate property that affects “public interest”.
Wabash, St. Louis & Pacific Railway v. Illinois (1886): States cannot regulate interstate railroads.
United States v. E.C. Knight Company (1895): Gov. has the right to restrict monopolies.
In re Debs (1895): People, property, mail. Congress can intervene in Monopolies.
Key Supreme Court Cases
Economic Developments in the North
Industrialization accelerates after the Civil War.
Improvements in Railroads, steel, mines.
Transcontinental Railroad completed 1869.
Transcontinental Railroad--1869
Economic Developments in the SouthWar ruins
Southern economy.
Ends slavery, kills plantation system.
New South: Railroads, textiles, mills.
Sharecropping.Mass migration
of blacks to the North.
Business DevelopmentsRise of CORPORATIONS due to increased capital, stocks, dividends, investment.
Involved risk, but possibility of tremendous gains. CAPITALISM
RAILROAD, STEEL, COAL, OIL, ELECTRICITY
Coal, Oil, Steel
Monopoly: Complete control over a particular field of business. (EC Knight Sugar Company)
Vertical
Business Organization
Control all of the aspects of the product.-Meat industry controls cattle, slaughterhouses, packing plants, delivery wagons.-Purchase companies at all levels of production…
Horizontal Integration (monopoly)
Oil Company #1 + Oil Company #2 + Oil Company #3
GIANT OIL COMPANY WHICH CONTROLS THE MARKET.
-Prices, Jobs, supply
=
Pools, Trusts, Holding Companies. All ways of keeping owners in control and fixing prices/competition.
Andrew Carnegie: Steel Industry, Pittsburgh.Carnegie Steel
John D. Rockefeller: Oil Refining Business.Standard Oil (1882) owns 90%
American refining$815,647,796.89 at death…40
million / year salary.JP Morgan: Financier & US Steel (1901)
World’s largest Steel Company.Henry Ford: Assembly Line, mass
production
Entrepreneurs
Captains of Industry??? OR…..Robber Barons?
Andrew Carnegie J.P. Morgan
JD Rockefeller Cornelius Vanderbilt
Attitudes towards Business
Laissez-Faire: “Hands off” Government has no right to interfere in Business.
FREE ENTERPRISE SYSTEM. (Adam Smith, invisible hand theory)
SOCIAL DARWINISMFair? Unfair?
Sherman Anti-Trust Act--1890Prohibits
Monopolies.
Response to Standard Oil
Any combination which “is in restraint of trade or commerce”
Circumvented by EC Knight, and “holding companies”
Triangle Shirtwaist FireOver 100 women die in 1911 fire.Leads to safety reforms in the private
industry.Triangle Fire
LABOR ORGANIZATIONSDue to power of owners, Unions are
formed to protect workers.Knights of Labor (1869): Terrence
Powderly. Haymarket Riot leads to decline. 7 policeman killed.
American Federation of Labor (AFL)1886: Samuel
Gompers, skilled workers. By 1900, most powerful Union in the USA.
1900: ILGWU to protect sweatshop workers.
Strikes, violence.Great Railway Strike 1877.Haymarket Riot 1886.Homestead Strike 1892: Carnegie Steel, 16 people killed.
Pullman Strike 1894: President Cleveland sends in Federal Troops to end strike. (In re Debs)
Labor Conflict
Pullman Strike
1. Tenements: multifamily housing, poorly maintained.
2. Political Machines: gain support of immigrants, leads to political corrpution in cities.
3. Urbanization: Development of modern cities. Many positives and negatives.
4. Immigration: People entering your country from another.
5. Old Immigration: colonies-1850. (N/W Europe, Ireland, Germany)
6. New Immigration: S/E Europe. Italy, Poland, Russia. 1870-1924.
7. Nativism: native born Americans were superior to immigrants.
Key Terms, Urbanization
8. Melting Pot Theory: People from various cultures meet in US to form a New Culture. Old cultures are surrendered to form a “new” culture.
9. Assimilation: Immigrants give up native language, traditions. “Americanize”
10.Cultural Pluralism: (Salad Bowl) Groups do not lose their distinctive cultures.
Key Terms, Urbanization
ImmigrationOLD:(until 1850) Northern and Western Europe (Britain, Ireland, Germany)
NEW:(1850-1924) South/East Europe (Italy, Poland, Russia)
“Melting Pot”Assimilation: become “Americanized”Cultural Pluralism: Salad Bowl Theory“Know Nothing” Party: exlude immigrants
Chinese Exclusion Act: 1882“Gentleman’s Agreement”: Ends Japanese immigration in 1907.
National Origins Act 1924: favors N/W immigrants.
Labor unions: NATIVISTS….WHY???
Immigration, terms.
Buffalo, the First Ward Grain Elevators
Immigration, Pictures
Ellis Island
Thomas Nast—Attacks Tamany Hall, Boss Tweed
RECONSTRUCTION (13,14,15 amendments)Lincoln, Johnson, RepublicansDue Process, Jim Crow, Plessy v. Ferguson
THE MOVE WESTHomestead, Natives, Indian Wars,
INDUSTRIALIZATIONWhy? Where? Effects? Robber Barron/C.O.I.Carnegie, Rockefeller, MorganMonopolies, Trusts, Pools, ShermanUnions, conditions, strikes
IMMIGRATION New/Old Challenges, TERMS
TEST REVIEW TERMS…
http://www.phschool.com/curriculum_support/brief_review/us_history/tests.html?unit=3&number=35
REVIEW