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The US develops a prosperous new economy based on the mass
production of goods.
THE RISE OF AMERICAN BUSINESS, INDUSTRY, &
LABOR: 1865—1920.
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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 Oil7. JP Morgan: Banking, loans. US Steel.8. Henry Ford: moving assembly line production
of automobiles.
Key Terms
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9. Laissez Faire: “Hands Off”. Supported by Adam Smith. Government stays away from involvement with business.
10. Robber Baron: gain wealth by ruthless means11. 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.
Key Terms
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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.
Key Terms
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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.
Key Supreme Court Cases
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Economic Developments in the North
Industrialization accelerates after the Civil War.
Improvements in Railroads, steel, mines.
Transcontinental Railroad completed 1869.
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Transcontinental Railroad--1869
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Economic Developments in the SouthWar ruins
Southern economy.
Ends slavery, kills plantation system.
New South: Railroads, textiles, mills.
Sharecropping.Mass migration
of blacks to the North.
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Business DevelopmentsRise of CORPORATIONS due to increased capital, stocks, dividends, investment.
Involved risk, but possibility of tremendous gains. CAPITALISM
RAILROAD, STEEL, COAL, OIL, ELECTRICITY
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Coal, Oil, Steel
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Monopoly: Complete control over a particular field of business. (EC Knight Sugar Company)
Vertical
Business Organization
Control all of the aspects of the product.-Meat industry controls cattle, slaughterhouses, packing plants, delivery wagons.-Purchase companies at all levels of production…
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Horizontal Integration (monopoly)
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.
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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)
World’s largest Steel Company.Henry Ford: Assembly Line, mass
production
Entrepreneurs
Captains of Industry??? OR…..Robber Barons?
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Andrew Carnegie J.P. Morgan
JD Rockefeller Cornelius Vanderbilt
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Attitudes towards Business
Laissez-Faire: “Hands off” Government has no right to interfere in Business.
FREE ENTERPRISE SYSTEM. (Adam Smith, invisible hand theory)
SOCIAL DARWINISMFair? Unfair?
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Sherman Anti-Trust Act--1890Prohibits
Monopolies.
Response to Standard Oil
Any combination which “is in restraint of trade or commerce”
Circumvented by EC Knight, and “holding companies”
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Triangle Shirtwaist FireOver 100 women die in 1911 fire.Leads to safety reforms in the private
industry.Triangle Fire
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LABOR ORGANIZATIONSDue to power of owners, Unions are
formed to protect workers.Knights of Labor (1869): Terrence
Powderly. Haymarket Riot leads to decline. 7 policeman killed.
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American Federation of Labor (AFL)1886: Samuel
Gompers, skilled workers. By 1900, most powerful Union in the USA.
1900: ILGWU to protect sweatshop workers.
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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)
Labor Conflict
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Pullman Strike
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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.
Key Terms, Urbanization
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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.
Key Terms, Urbanization
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ImmigrationOLD:(until 1850) Northern and Western Europe (Britain, Ireland, Germany)
NEW:(1850-1924) South/East Europe (Italy, Poland, Russia)
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“Melting Pot”Assimilation: become “Americanized”Cultural Pluralism: Salad Bowl Theory“Know Nothing” Party: exlude immigrants
Chinese Exclusion Act: 1882“Gentleman’s Agreement”: Ends Japanese immigration in 1907.
National Origins Act 1924: favors N/W immigrants.
Labor unions: NATIVISTS….WHY???
Immigration, terms.
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Buffalo, the First Ward Grain Elevators
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Immigration, Pictures
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Ellis Island
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Thomas Nast—Attacks Tamany Hall, Boss Tweed
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RECONSTRUCTION (13,14,15 amendments)Lincoln, Johnson, RepublicansDue Process, Jim Crow, Plessy v. Ferguson
THE MOVE WESTHomestead, Natives, Indian Wars,
INDUSTRIALIZATIONWhy? Where? Effects? Robber Barron/C.O.I.Carnegie, Rockefeller, MorganMonopolies, Trusts, Pools, ShermanUnions, conditions, strikes
IMMIGRATION New/Old Challenges, TERMS
TEST REVIEW TERMS…
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http://www.phschool.com/curriculum_support/brief_review/us_history/tests.html?unit=3&number=35
REVIEW