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Gilded Age "What is the chief end of man?--to get rich. In what way?--dishonestly if we can; honestly if we must." -- Mark Twain-1871 1. to overlay with.

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Presentation on theme: "Gilded Age "What is the chief end of man?--to get rich. In what way?--dishonestly if we can; honestly if we must." -- Mark Twain-1871 1. to overlay with."— Presentation transcript:

1 Gilded Age "What is the chief end of man?--to get rich. In what way?--dishonestly if we can; honestly if we must." -- Mark Twain to overlay with or as if with a thin covering of gold 2. to give an attractive but often deceptive appearance to Gilded:

2 Industrialization

3 Natural Resources Oil! Oil! Coal! Coal! Iron! Iron!

4 Bessemer Process Bessemer Process

5 The Wonders of Steel…

6 Electricity!

7 Other Inventions… MACHINE AGE How did these inventions transform American society/culture/life?

8 CAPITALISM Adam Smith – Wealth of Nations, 1776 Adam Smith – Wealth of Nations, 1776 Definition of capitalism: an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by PRIVATE individuals or corporations who COMPETE in a FREE MARKET. Definition of capitalism: an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by PRIVATE individuals or corporations who COMPETE in a FREE MARKET.

9 Innovation in the Factory System Taylorism – subdivide tasks Taylorism – subdivide tasks Moving Assembly Line – introduced by Ford in 1914 Moving Assembly Line – introduced by Ford in 1914 Chaplin’s Modern Times,1936 What are Chaplin’s thoughts on these “modern times”? What statement is he making about the new factory system?

10 If you can’t beat them, join them! The Vocab. of Capitalism… Corporation: a business organization owned by a group of stockholders, each of whom enjoys limited liability; a corporation has the ability to raise capital by selling stock to the public. Corporation: a business organization owned by a group of stockholders, each of whom enjoys limited liability; a corporation has the ability to raise capital by selling stock to the public. Mergers: When one corporation buys another. Mergers: When one corporation buys another. Monopoly: When a corporation managers to buy out all of its competitors and gains complete control over its industry’s production, quality, wages, and prices. Monopoly: When a corporation managers to buy out all of its competitors and gains complete control over its industry’s production, quality, wages, and prices. Trust: A combination of firms or corporations for the purpose of reducing competition Trust: A combination of firms or corporations for the purpose of reducing competition Holding Company: company which is created to own the stock of other corporations, thereby controlling the management and policies of all of them. Holding Company: company which is created to own the stock of other corporations, thereby controlling the management and policies of all of them.

11 Industrial Tycoons Form Monopolies! Railroads sell land to other businesses, not to settlers Railroads sell land to other businesses, not to settlers Inflate rail fares, especially for farmers Inflate rail fares, especially for farmers Fix prices across competing lines to insure high profit for all Fix prices across competing lines to insure high profit for allVanderbilt: the Modern Colossus

12 Rockefeller and Standard Oil Horizontal Integration: In 1871 John D. Rockefeller struck a secret deal with the railroads that transported his oil offering them rebates if they promised to only buy oil from him. Through this method, Rockefeller ran his competitors out of business. By March of 1872, the 33-year-old businessman had used this and other tactics to take over 22 of the 26 refineries in Cleveland, thus creating a monopoly. Horizontal Integration: In 1871 John D. Rockefeller struck a secret deal with the railroads that transported his oil offering them rebates if they promised to only buy oil from him. Through this method, Rockefeller ran his competitors out of business. By March of 1872, the 33-year-old businessman had used this and other tactics to take over 22 of the 26 refineries in Cleveland, thus creating a monopoly.

13 Carnegie and the Steel Industry Vertical Integration: One of the earliest, largest and most famous examples of vertical integration was the Carnegie Steel company. The company controlled not only the mills where the steel was manufactured but also the mines where the iron ore was extracted, the coal mines that supplied the coal, the ships that transported the iron ore and the railroads that transported the coal to the factory, the coke ovens where the coal was coked, etc. Vertical Integration: One of the earliest, largest and most famous examples of vertical integration was the Carnegie Steel company. The company controlled not only the mills where the steel was manufactured but also the mines where the iron ore was extracted, the coal mines that supplied the coal, the ships that transported the iron ore and the railroads that transported the coal to the factory, the coke ovens where the coal was coked, etc.

14 Robber Baron or Captain of Industry? Paraphrase the following quote: “It would be a great mistake for the community to shoot the millionaires, for they are the bees that make the most honey, and contribute most to the hive even after they have gorged themselves full.” - Andrew Carnegie

15 Carnegie gave away 90% of his wealth… Birthplace, Scotland, 1835 Castle in Scotland Carnegie bought in 1897

16 Gospel of Wealth….. Questions to consider…. How did Carnegie justify the accumulation of wealth? How did Carnegie justify the accumulation of wealth? What three ways did Carnegie suggest to dispose of personal wealth? What three ways did Carnegie suggest to dispose of personal wealth? What criteria did Carnegie establish for administering charitable resources? Are his reasons consistent? What criteria did Carnegie establish for administering charitable resources? Are his reasons consistent? Was Carnegie a selfish business man or a charitable entrepreneur? Was Carnegie a selfish business man or a charitable entrepreneur?

17 The Worker’s Perspective… Horatio Alger Story Horatio Alger Story Why might “luck” and “pluck” not be enough to make in the Gilded Age? Why might “luck” and “pluck” not be enough to make in the Gilded Age?

18 Child Labor in the Gilded Age As we flip through the following slides, silently reflect and write down some of the common trends that you see. What was life like for a child in the factories?

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20 Working in the Mines At the close of day. Waiting for the cage to go up. The cage is entirely open on two sides and not very well protected on the other two, and is usually crowded like this. View of the Ewen Breaker of the Pa. Coal Co. The dust was so dense at times as to obscure the view. This dust penetrated the utmost recesses of the boys' lungs. A kind of slave- driver sometimes stands over the boys, prodding or kicking them into obedience.

21 Furman Owens, 12 years old. Can't read. Doesn't know his A,B,C's. Said, "Yes I want to learn but can't when I work all the time." Been in the mills 4 years, 3 years in the Olympia Mill. Working in the Mills

22 One of the spinners in Whitnel Cotton Mill. She was 51 inches high. Has been in the mill one year. Sometimes works at night. Runs 4 sides - 48 cents a day. When asked how old she was, she hesitated, then said, "I don't remember," then added confidentially, "I'm not old enough to work, but do just the same." Out of 50 employees, there were ten children about her size. The overseer said apologetically, "She just happened in." She was working steadily. The mills seem full of youngsters who "just happened in" or "are helping sister."

23 Newsies Out after midnight selling extras. There were many young boys selling very late. Youngest boy in the group is 9 years old. Harry, age 11, Eugene and the rest were a little older. Tony Casale, age 11, been selling 4 years. His paper told me the boy had shown him the marks on his arm where his father had bitten him for not selling more papers. He (the boy) said, "Drunken men say bad words to us." Michael McNelis, age 8. This boy has just recovered from his second attack of pneumonia. Was found selling papers in a big rain storm.

24 Messengers absorbed in their usual game of poker in the "Den of the terrible nine" (the waiting room for Western Union Messengers, Hartford, Conn.). They play for money. Some lose a whole month's wages in a day and then are afraid to go home. The boy on the right has been a messenger for 4 years. Began at 12 years of age. He works all night now. During an evening's conversation he told me stories about his experiences with prostitutes to whom he carries messages frequently. Messenger boys; they all smoke. Pastimes and Vices…

25 Final Thoughts… Should Industrialization be seen as Progress? Who benefitted from Industrialization? Who did not benefit from Industrialization?


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