for tomorrow feuchtless! bring your book! 1.) read for 546-554 for quiz friday know...
TRANSCRIPT
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For TomorrowFor TomorrowFeuchtless!Bring Your Book!1.) Read for 546-554 for quiz Friday
Know Carnegie-Mother Jones2.) 1 5–7 sentence response to Varying
Viewpoints Question 1 or 2
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Transcontinental RR -Transcontinental RR -Union Pacific RR & Central Pacific RRgov. subsidies -Irish -Chinese –meet in 1869 in Ogden, UtahImp. :1-2-3-
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RRs Flourish!RRs Flourish!steel rails -
Cornelius Vanderbilt, NY Central -standard gauge tracks - Westinghouse air brake -Pullman "Palace Cars“ -Labor still dangerous (1888 = 20,000 inj.)
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Impact of RR on USImpact of RR on USNational Economy -Industrialization -Mining and Agriculture -Immigration -Environment -Time (1883) -Wealth -
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Dirty Tricks in RR Biz!Dirty Tricks in RR Biz!“stock watering” -bribery -The "pool“ -“rebates” and “kickbacks” -price gouging -
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Early Efforts to regulateEarly Efforts to regulatebegins with the states in 1870s –Wabash v. Illinois (1886) -Interstate Commerce Act (1887) –1 – outlawed _____ & ______2 – must publish ___________3 – created ICC –
The First! –but . . .
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2nd Industrial Revolution 2nd Industrial Revolution1860: 4th 1894: 1st WHY?1.) "liquid capital" –2.) natural resources -3.) cheap labor -4.) “American ingenuity”
Bell – ‘ 76 - Sholes – ’67 - Edison – ’79 - Drake – ’59 -
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ScheduleSchedule554-562 for Monday623-630 for Tuesday630-638 for WednesdayChapter 25 & 28 Exam next THURSDAY
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Tactics of the “Robber Barons” Tactics of the “Robber Barons”vertical integration -Carnegiesteelhorizontal integration -John D. Rockefelleroil"trust" -
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Carnegie, Morgan, & SteelCarnegie, Morgan, & SteelSteel Boom:Bessemer Process -access to coal and iron orelaborAndrew Carnegie -Bought out by JP Morgan in 1900 -Morgan forms US Steel in 1901
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Rockefeller and the Standard Oil Co. Rockefeller and the Standard Oil Co. kerosene –1877 – 95% of all _________oil business killed by ________ then revived by _____________
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His TacticsHis Tacticsconsolidate –1-2- ruthlessly price-out all competitionvideo stores? –oligopoly -monopoly -
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How do we think about this insane wealth?How do we think about this insane wealth?Social Darwinism –The Gospel of Wealth –
Horatio Alger –myth or reality?
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Constitutional safeguards for industry Constitutional safeguards for industry
Wabash v. Illinois ruling –Interstate Commerce ClauseThe 14th Amendmentinterpret corporations as
‘persons“ –protects -
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Sherman Anti-Trust Act - 1890Sherman Anti-Trust Act - 1890goal -problem -actually used to break-up
___________ .but . . .
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ScheduleSchedule623-630 for Tuesday630-638 for WednesdayChapter 25 & 28 Exam THURSDAY
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The Birth of UnionsThe Birth of UnionsWhy? more _______ than ________
Goal = collective bargainingsolidarity –power comes from -The First 2 Big Unions:1.2.
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2 Types of Unions2 Types of UnionsCraft Union –Samuel Gompers & The AFL -Industrial Union –Eugene V. Debs & The ARU -strike – scab – Pinkertons-socialism – IWW -lockouts - yellow dog contracts– black
lists–company town -
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end of the Jeffersonian ideala nation of wage-earners
slave to the clockindustrial virtues taught in schoolwomen
The “Gibson Girl” ideal –stenographers and "hello girls“the reality
oligarchy -1/10 of the people own 9/10 wealth
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Capital v. Labor!Capital v. Labor!1877 – The Great Railroad Strike of . . (522) -1886 – Haymarket Riot (558) -1892 – Homestead Steel Strike (626) -1894 – The Pullman Strike (631)-
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With Your Partner . . . With Your Partner . . . What caused the ruckus . . . What ensued as a result . . . Who won?CAPITAL or LABORWhy did they win? (what turned the
tide?)
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“The Billion Dollar Congress”“The Billion Dollar Congress”______ _________ elected in 1888 -Republicans like high tariffs
McKinley Tariff Bill (1890)surplus –spend it on –Populist Party ( ____________’s Party)opposition party -Represent _________ & ___ v.
_________ & ___
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The Populist PartyThe Populist PartyEconomic Demandsincreased money supply (16:1 silver)graduated income taxgov. owned utilities8 hour work dayimmigration restrictionPolitical Demandspopular election of U.S. Senatorssingle term for President and VPsecret ballot
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Election 1892Small gains for PopulistsCleveland (D) wins Prez.The Panic of 1893overbuilding and overspeculationagricultural depressionEuropean banks pull money -depletion of gold reserve1895 – Gov. bailed out by -
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Reaction to the Panic of 1893Coxey's Army - 1894"General" Jacob S. Coxey - demands –Result -Free Silver -debtors likeee - Coin's Financial School (1894) -- William
Hope Harvey
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“Silverites” vs. “Gold Bugs” in 1896William McKinley Mark Hanna -Gold Standard -business, bankingoutspend Dems 16-1William Jennings Bryan –Cross of Gold Speech –Wins him ___________ & _________
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Election of 1896Election of 1896“Gold Bug”Democrats – McKinley winsNE & MW beats S & W -begins a 16-year -high tariffsGold Standard Act (1900) -more new gold =
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Constitutional safeguards for industry Constitutional safeguards for industry
Wabash v. Illinois ruling –Interstate Commerce ClauseThe 14th Amendmentinterpret corporations as
‘persons“ –protects -
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Sherman Anti-Trust Act - 1890Sherman Anti-Trust Act - 1890goal -problem -actually used to break-up
___________ .but . . .
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TariffsTariffs
Republicans = R___________
Democrats = D____________