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Transcript of BIG BUSINESSES
"The good lord gave me my money"
John D. Rockefeller
Entire families worked
Children worked as soon as they could
Southern textile mills paid less
Urban center factories demanded labor:
Women faced dangerous working conditions; were paid less
Dependence on wages made workers vulnerable
Individual workers were powerless to fight against giant industry
Wednesday, January 20th, 2016
Vol XCIII, No. 311
The Steel Baron
1873- went into steel business
Disliked monopolistic trusts
Helped establish Bessemer Steel method
By 1900- produced more than 1/4 of Bessemer Steel
Carnegie and J.P. Morgan merge
Believed in the Gospel of Wealth
Began career in steamboat industry, making millions
Helped make improvements to railroad industry
Steel rail increased efficiency and safety
Corruption within the industry
"Law, what do I care about the law? Ain't I got the power?"
First to incorporate both horizontal and vertical integration
Formed a refining company in Cleveland, OH
Perfected the "trust"
1870- Owner of the Standard Oil Company
Leader in monopolies
Agreed with the "Gospel of Wealth" written by Carnegie
Labor unions given a strong boost by Civil War
By 1872, several hundred thousand organized workers and thirty-two national unions existed
National Labor Union (1866)
- attracted 600,000 members
Colored National Labor Union
Unions agitated for
eight hour workday
Knights of Labor- campaigned for economic + social reform, safety + health
American Federation of Labor-exclusively skilled craft union
broke up protests
Federal courts insisted a cease in striking
•Big Businesses avoided laws for monopoly by forming trusts and holding companies
•Fellow Servant Rule- Relieved employers of workplace injury, if negligence of employers
Horizontal Integration- Coming together with competitors and creating a monopoly
•Vertical Integration- Combining all phases of manufacturing into one organization
•Interstate Commerce Act- Required railroads to publish their records
•Interstate Commerce Commission (ICC)- Administer and enforce Interstate Commerce Act
•Sherman Anti-Trust Act of 1890- Forbade business activity that government thought
How were big business owners and government allies challenged in their quest to build a unified industrialized nation?
Steel became “king”
as effect of quest to build a unified industrialized nation
Steel used to build the support systems of large buildings
By 1900- 192,556 miles of railroad
Prosperous cities had railroads, made them flourish
Construction gangs containing
worked on the railroad
Chinese laborers worked from dawn to dusk; were cheap, efficient, and expandable
Hundreds lost their lives
in premature explosions
The Effects of Big Business on. . .
Read carefully and answer the questions to the political cartoon
When done, please look up so we know when to continue
The Three Big Business Owners:
Carnegie, Vanderbilt, and Rockefeller
Issues that arose which stood between the business owners and their dreams of building an industrialized nation:
labor unions and their pleas for better working conditions
Laws put in place to curb labor unions and helped by government allies
Wrapping it Up...
Three major business owners:
Carnegie, Vanderbilt, Rockefeller
labor unions went on strike for better working conditions
dwindled down competing businesses, made employer less responsible for their workers
Steel and railroads prospered; some workers given greater opportunities, others lost their lives due to dangerous working conditions
Big Businesses affected:
Steel, Railroad, and Worker Industries
Questions and Answers
1. Who was the intended audience?
2. What does this demonstrate about big business owner’s drives?
They forget about their workers and only care about what they want to care about
3. What perspective is this coming from?
Someone who understands Carnegie's intention