1. Big Business and Labor Unions

2. Vocabulary
Monopoly – complete control of a product or service by one company
Trust – a group of separate companies that are placed under the control of a single managing board
Robber Baron – business leaders who made their fortune from “stealing” from the public
Captain of Industry – business leaders who served their nation in a positive way
Social Darwinism
Gospel of Wealth – duty of wealthy to share their wealth w/ people who are working hard to better themselves

3. Big Business National economic growth Abundance of goods
Pros
Cons
National economic growth
Abundance of goods
Improved standard of living
Employed skilled and unskilled workers
Development of philanthropic endeavors
Eliminated competition
Monopolies and trust
Many held unfair influence over government
Increased gap between rich and poor

4. Andrew Carnegie Scottish immigrant Richest man in the world in the
early 20th century
Net worth - $310 Billion
Used the Bessemer process to
monopolize the steel industry
Believed in Social Darwinism
Created the Gospel of Wealth
Donated more that $350 million to various causes
Education (80%), international peace, libraries, cultural centers, research, and publications

5. Other Robber Barons/Captains of Industry
Cornelius Vanderbilt
Controlled the railroads
Net worth - $105 Million
Not known for his philanthropy, but gave $ 1 million to Vanderbilt University
John D. Rockefeller
Controlled the oil industry
Used horizontal consolidation
Net worth - $340 Billion
John P. Morgan
Banker, who refinanced the railroads and loaned the United States government $65 million in gold in 1895
Net worth $41.5 Billion

6. Mass Production
Consumer goods
More diverse goods
Increased production

7. Dangerous Working Conditions
Extremely low wages – about $1 a day
Everyone had to work; seven days a week
Many children under 15 worked full time.
Up to 12 or more hours a day.
Work was repetitive and dangerous
Hazardous working conditions
No helmets or safety goggles
Toxic gases and dust – lung disease was common
Sharp blades with no protection
No vacation time, sick leave or money for injuries on the job.
Injuries were very common.
In 1882, 675 people on average were killed in work related accidents EACH WEEK!

8. Labor Unions Developed out of unsafe working conditions and low wages
Contributed to poor living and social conditions
Unions provided strength in numbers by threatening to strike
Protect workers interest

9. Labor Unions Cont. Some only included skilled workers
Others allowed more diversity in skill and political ideals
Not widely accepted by the government or the general public

10. James Bride, The Inside History of the Carnegie Steel Company, 1903
“Hardly a day passes that a [union] “committee” did not come forward with some demand or grievance….Every detail of working the great plant was subject to the interference of some busybody representing the Amalgamated Association”

11. Famous Labor Unions Knights of Labor American Federation of Labor
Skilled and unskilled
Included African Americans and women
American Federation of Labor
Samuel Gompers
Skilled workers only
Industrial Workers of the World
Wobblies
American Railway Union
Eugene Debbs - socialist

12. Labor Unions s

13. Chinese Exclusion Act Barred Chinese immigration for 10 years
Prevent Chinese already in the US from becoming citizens
Caused by:
Fear of cheap labor
Nativist sentiments
European Immigrants were more willing to assimilate into the American Culture

14. The Mortar of Assimilation – And the One Element that Won’t Mix

15. Activity
Look at the chart labeled 4. Big Business and Government. Use the information in the chart to create a line graph on the blank graph titled 4. Big Business and Government
Look at the chart labeled 5. The Gilded Age. Use the information in the chart to create a bar graph on the blank graph titled 5. The Gilded Age