American History Do Now = Industrialization Pre-Test Agenda Analyze Data Multimedia Overview Notes Student Workbook Project
You decide: Vanderbilt, Rockefeller, Carnegie, Morgan Robber Barons or Captains of Industry?
Central Question Was the period from 1877 to 1920 a time of PROGRESS for the United States? Work with a partner for 5 minutes. Open your book to pages Write down 7 inventions shown on the pages. How do new inventions lead to progress?
How did trains create jobs? Work with a partner. Write in your notebook. Open your book to page 190. Use the picture titled Technology and History to find the jobs. List 3 jobs needed to build railroad engines and cars. ________________ _____________________ _________________ List 3 jobs needed to build railroad tracks. ________________ _____________________ _________________ List 3 jobs you could have working for a railroad ________________ _____________________ _________________
Cornelius Vanderbilt =RAILROADS 3 minute video overview of Cornelius Vanderbilt What is THE MOST IMPORTANT thing in the 19 th century? What did Vanderbilt build in New York in addition to railroad lines?
You decide: Robber Baron Or Captain of Industry
Andrew Carnegie = STEEL Name 3 things built with steel.____________ ___________ ____________ Vertical Integration = owning the steel factories AND businesses needed to make steel (mines, quarries, ore fields)
Coke fields Iron ore deposits Ships Railroads purchased by Carnegie Steel mills purchased by Carnegie Vertical Consolidation
Monopolized the steel industry Rags to riches story---came from Scotland very poor. Used scientific ideas to develop a better way to produce steel and sell a quality a product for an inexpensive price. Used Horizontal integration. Monopolized the steel industry Rags to riches story---came from Scotland very poor. Used scientific ideas to develop a better way to produce steel and sell a quality a product for an inexpensive price. Used Horizontal integration. Carneige Picture
John D. Rockefeller = Oil Vertical Integration and Horizontal Integration
Came from a wealthy family Bought a substitute during the Civil War. Formed Standard Oil - first in the oil industry First US billionaire by Vertical and Horizontal Integration to gain a monopoly in the oil business. Cartoon Rockefeller
J. P. MORGAN = BANKING What did his dad let him hold when he was a young boy?__________________ What does every economy need to keep going?__________________________ Loaned money to the US Treasury and saved it from bankruptcy.
JP Morgan = Banking -Bailed out US Treasury - Accused of manipulating the nation’s financial system for his own gain -Too much power
Big Business Student Workbook p. 49 Steps to eliminate competition Student Workbook - Big Business Read p Complete questions 1-2 on p. 51 Slashed prices temporarily Pools Vertical integration Horizontal integration
Do you think this is a good title for this cartoon “The Protectors of Our Industries”? Explain why. Cornelius VanderbiltRussell SageMarshall FieldJay Gould Business Wages per week PROJECT
How effective was it for the artist to depict Standard Oil as an octopus? ____________________________________________________________ To what extent do both cartoons indicate the artists’ concern for workers? __________________________________________________________