Industrialization Smartboard...
Transcript of Industrialization Smartboard...
Industrialization Smartboard Notes.notebook
1
December 09, 2010
Dec 58:34 PM
Appetizer: December 6 What are the 4 I's in American History?
Main Course: To understand the impact of Railroads in the United States.
Dec 58:35 PM
The 4 I's
Dec 510:05 PM
Industrialization - Impact of Railroads Why so Important?
Dec 69:14 PM
Appetizer: December 7Have your homework out. Ready to work on pg. 2 in packet.
Main Course: To meet the four major business owners during the Industrialization period.
Dec 69:18 PM
Robber Baron or Captain of Industry
Robber Baron-any businessman or banker who used questionable business practices to become powerful or wealthy.
Captain of Industry- business leader whose means of amassing a personal fortune contributes positively to the country in some way.
Dec 79:55 AM
Examples of Acts by Robber Barons: • Swallow up competition to create a monopoly• Not allow banks to give out loans to other companies • Threatening companies to lower prices
Examples of Acts by Captains of Industry: • Donating money to charity• Donating money to colleges and universities • Any act of kindness that betters the country
Industrialization Smartboard Notes.notebook
2
December 09, 2010
Dec 710:58 PM
Robber Baron Facts• Forced competition to choose between being swallowed up by standard oil or crushed into bankruptcy. • Threatened RR companies to lower price of shipping of his oil or he would turn to another company. • Drastically reduced price of oil to eliminate competition
John Rockefeller
Dec 711:05 PM
John Rockefeller Captain of Industry Facts
• Since age of 14, donated 10% of $ to church• Improved medical research• Built Spellman College • Donated $80 million to Univ. of Chicago• @ death donated over $550 million
Dec 710:09 PM
John Rockefeller
Dec 711:09 PM
JP MorganRobber Baron Facts
• Influenced other bankers not to give loans to his competitors stopping them from expanding their business. • Bought out companies & created corporations• Did not like competition
Dec 711:12 PM
JP MorganCaptain of Industry Facts
• Art collection became a museum
Dec 710:16 PM
JP Morgan
Industrialization Smartboard Notes.notebook
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December 09, 2010
Dec 711:14 PM
Andrew CarnegieRobber Baron Facts
• Laborers worked 16hr. days for little pay• Let a strike go on for 145 days-10 people died.
Dec 711:16 PM
Andrew CarnegieCaptain of Industry Facts
• Believed wealthy were responsible to make society better • Donated $1 million to building libraries • Gave $2 million to start the Carnegie Institute of Tech. in Pittsburgh• Donated millions to churches. • Provided education for A.A. through support for Tuskegeee Institute.
Dec 710:21 PM
Andrew Carnegie
Dec 711:19 PM
Cornelius VanderbiltRobber Baron Facts
• When competitors went out of bus. he would raise rates to gain $ lost • Refused to let passengers transfer to his trains forcing NY Central rail to sell • Held monopoly over shipping & passenger travel in Northeast
Dec 711:22 PM
Cornelius VanderbiltCaptain of Industry Facts
• Donated $1 million to Central University which became Vanderbilt University.
Dec 710:26 PM
Cornelius Vanderbilt
Industrialization Smartboard Notes.notebook
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December 09, 2010
Dec 710:16 PM
Key Terms from Big Businessmen Readings
Bessemer Process-type of process that makes steel cheaper and stronger.
Vertical Integration-controlling an industry from raw materials to finished products.
Dec 810:58 PM
MONOPOLIES IN TODAYS WORLD
Dec 811:02 PM
EXAMPLE OF FREE ENTERPRISE
FAST FOOD
Dec 98:17 AM
Terms / People