Presentation on theme: "The US develops a prosperous new economy based on the mass production of goods."— Presentation transcript:
The US develops a prosperous new economy based on the mass production of goods.
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 Oil 7. JP Morgan: Banking, loans. US Steel. 8. Henry Ford: moving assembly line production of automobiles.
9. Laissez Faire: Hands Off. Supported by Adam Smith. Government stays away from involvement with business. 10. Robber Baron: gain wealth by ruthless means 11. 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.
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.
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.
Industrialization accelerates after the Civil War. Improvements in Railroads, steel, mines. Transcontinental Railroad completed 1869.
Monopoly: Complete control over a particular field of business. (EC Knight Sugar Company) Vertical Control all of the aspects of the product. - Meat industry controls cattle, slaughterhouses, packing plants, delivery wagons. -Purchase companies at all levels of production…
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) Worlds largest Steel Company. Henry Ford: Assembly Line, mass production Captains of IndustryCaptains of Industry??? OR…..Robber Barons?
Andrew Carnegie J.P. Morgan JD RockefellerCornelius Vanderbilt
Laissez-Faire: Hands off Government has no right to interfere in Business. FREE ENTERPRISE SYSTEM. (Adam Smith, invisible hand theory) SOCIAL DARWINISM Fair? Unfair?
Prohibits Monopolies. Response to Standard Oil Any combination which is in restraint of trade or commerce Circumvented by EC Knight, and holding companies
Over 100 women die in 1911 fire. Leads to safety reforms in the private industry. Triangle Fire
Due to power of owners, Unions are formed to protect workers. Knights of Labor (1869): Terrence Powderly. Haymarket Riot leads to decline. 7 policeman killed.
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)
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.
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.
OLD:(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 Gentlemans Agreement: Ends Japanese immigration in 1907. National Origins Act 1924: favors N/W immigrants. Labor unions: NATIVISTS….WHY???