The Gilded Age 1870-1900. Gilded Age Themes Industrialization Urbanization Unions and Reform Movements The Closing of the Frontier Gilded Age Politics.

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Presentation transcript:

The Gilded Age

Gilded Age Themes Industrialization Urbanization Unions and Reform Movements The Closing of the Frontier Gilded Age Politics

The Gilded Age America’s Industrial Revolution

Learning Target I can analyze the factors that contributed to America’s Industrial Revolution including new technology, new methods of conducting business, and the role the American government played in the process of Industrialization.

America’s Industrial Revolution: Causes Market Revolution (~ ) – Broader markets – Faster manufacturing – Better consumers – EARLY RAILROADS The Civil War – New industries – Improved technology – New class of millionaires

America’s Industrial Revolution: Causes Abundant natural resources People – Laborers – Entrepreneurs – Inventors New Technology

America’s Industrial Revolution: Causes Government – Tariffs – Laissez faire – Favorable legislation

America’s Industrial Revolution: Role of the Railroads Pacific Railway Acts (1862-3) – Union Pacific – Central Pacific Paid by mile of track – $16,000 – $32,000 – $48,000 Plus…

America’s Industrial Revolution: Role of the Railroads Paid with land A lot of land A whole lot of land. A whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole whole lot of land. 200 ft. on either side of the track Plus…

America’s Industrial Revolution: Role of the Railroads Up to ten square miles of land per mile of track laid

Role of the Railroads: The First Transcontinental Railroad Central Pacific Eastward starting in Sacramento, CA Mostly Chinese labor Through the Sierra Nevada Union Pacific Built westward starting in Omaha, NE Mostly Irish labor

Role of the Railroads: The First Transcontinental Railroad

Promontory Point, Utah: May 10, 1869

Role of the Railroads: Impact Made lots of men really, really rich.

Role of the Railroads: Impact Other industries that fed the railroads grew.

Role of the Railroads: Impact Markets grew, spurring other industries

Role of the Railroads: Impact Growing opposition

America’s Industrial Revolution: Inventors, Inventions, and Entrepreneurs McCormick mechanical reaper Drake Oil Well

Inventors, Inventions, and Entrepreneurs Bessemer Converter Seiman’s Open Hearth Method

Inventors, Inventions, and Entrepreneurs Thomas Edison:The Wizard of Menlo Park Telegraph work Phonograph Industrial Research Laboratory Electric light bulb work Centralized power distribution Motion picture cameras

Inventors, Inventions, and Entrepreneurs Cornelius Vanderbilt Steamboats Gibbons Railroads in New York Left 100 million his son, William Vanderbilt “The Commodore”

Inventors, Inventions, and Entrepreneurs Andrew Carnegie Born poor Early work in telegraph company Began investing in steel Pioneer of “vertical consolidation” Sold Carnegie Steel to JP Morgan to create US Steel “Gospel of Wealth” Carnegie Steel

Inventors, Inventions, and Entrepreneurs Business methods:Vertical Integration Carnegie Steel Unions/Labor/Company Towns Delivery of Finished Products Manufacture Shipping Raw Materials

Inventors, Inventions, and Entrepreneurs John D. Rockefeller Humble origins Began his career as a book keeper for a produce business Invested in oil refining in Ohio in 1863 Used volume to reduce shipping costs Practiced both vertical and “horizontal integration” Pioneered the “trust” method of organization Billionaire by the time he died Standard Oil

Inventors, Inventions, and Entrepreneurs Business methods:Horizontal Integration Standard Oil Board of Trustees Standard Oil of Ohio Standard Oil of New Jersey Standard Oil of California

Inventors, Inventions, and Entrepreneurs John Piermont MorganJP Morgan, & Co Born into banking family Obsessed with efficiency Worked with businesses between industries to reduce competition Twice worked to save the American economy: – Panic of 1893 – Panic of 1907

Inventors, Inventions, and Entrepreneurs Business methods:The Interlocking Directorate JP Morgan and Company Oil TrustBeef TrustSteel Trust

Inventors, Inventions, and Entrepreneurs