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Triumph of Industry

chapter 4
by

Becky Lockler

on 1 September 2016

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Transcript of Triumph of Industry

After the Civil War factories promoted industry, cheap labor, new inventions, and technology. Railroads and raw materials help in expanding the nation. Corporation became important. Workers formed unions for better wages and conditions.
The Triumph of Industry
1865-1914

How did industrialization and new technology affect the economy and society?
Technology and Industrial growth

linking the nation
help to spur growth

Railroads
Beginnings,
Consolidation and
Selling

Rise of Big Business
Work was monotonous and repetitive
unhealthy and unsafe
Industry brought high standard of living
labor Unions
better pay
better hours
better conditions

American Federation of Labor
Samuel Gompers

Now found out west they could be transported back east at a low price.
Petroleum
could be used as kerosene
Edwin Drake-1st oil well in
Titusville, Pennsylvania
People (20 million)
provided large workforce
for factories and consumer for
goods made.
Free Enterprise
people wanted it controlled by supply and demand
Natural Resources
Entrepreneurs
invest money in a product or enterprise in order to make a profit.
Investors
many had money saved and started factories or railroads.
Europeans also invested in American industries.
Government
Laissez-faire- allowed business to operate under minimal government regulation.
Morrill Tariff
Intended to help American businesses.
It made imports more expensive and provided land grants. It also hurt industries who exported.
Farmers were most affected many left farm and went to cities for jobs.
Free Trade
By 1900s many American businesses were big enough to compete with foreign industries.
New Inventions
Lincoln signed the Pacific Railway Act helping to led to the building of the Transcontinental RR
Grenville Dodge (Union Pacific) built from the east starting in Omaha, Nebraska
Four Merchants invested (Central Pacific) built from west.
Leland Stanford-one of the investors made a huge fortune.
Workers
veterans
farmers
miners
immigrants-Chinnese and Irish

Cornelius Vanderbilt-Railroad
saw opportunities to make money by consolidating short lines into one. From New York to Chicago
Time Zones
to help make rail service more reliable the
American Railway Association divided the
country into four time zones.
Everyone Benefits
Long-distance travel faster
Powerful locomotives made it
more efficient and less expensive.
Help to unite people
Land Grants
Railroads sold land to
settlers and
businesses to
raise money.
Robber Barons
Entrepreneurs cheated
and bribed way to millions
Jay Gould-
Credit Mobilier
James J Hill
Great Northern-
shipped both ways
Corporation
treated as one but
owned by stockholders

Monopoly -
complete control of a product or service

Trust -
Companies place under control of a board
in order to form a
monopoly.
Economies of Scale
by spreading out the cost companies could invest and make goods cheaper and quicker
Fixed Cost
Operating Cost
(cc) photo by medhead on Flickr
many felt corporations drove small businesses out of business
Consolidation of
Industry
Ford
Vertical
mega
cell phone
Horizontal
Lockler
holding and trust
Nike
Levi
apple
glass
rubber
steel
AT&T
Verzion
Sprint
Now with lots of cheap products companies found ways to sell in one location.
Billboards and catalogs
Alexander Bell-Telephone
Edison-Phonograph and light bulb
Henry Bessemer-Bessemer process
Swift-Refrigeration
ready-made clothes
standard sizes in shoes
trade Unions
Recession
Industrial
Unions
difference in
standard in living
between classes
Companies didn't like unions
tried contracts, black list and lockouts
Deflation
rise in the value of money
prices fall-employees buy more
companies make less-decrease wages
Craft workers
had special skills
higher wages
Common laborers
few skills
represented all craft workers and
common laborers in
an industry
Marxism
conflict between owners and employees
government take over and distribute evenly
Anarchism
government not necessary
took hold in Europe
Immigrants=Anarchism
Companies cut wages
workers left jobs and turn
to violence. Gun battles broke
out, militia's sent in
Hays ordered army to open RR
Knights of Labor
Open to all jobs
first nationwide industrial union
8-hr work day
equal pay for women
end child labor
worker-owned factories
Arbitration
Nation wide Strike
Haymarket Square

American Railway Union
Eugene V. Debs
Pullman Palace Car
Closed Shops
more women began working in different jobs. they also formed unions.
Women's Trade Union League
http://www.history.com/topics/inventions/videos#thomas-edison
from mom and pop to malls
http://www.history.com/shows/america-the-story-of-us/videos/andrew-carnegie#andrew-carnegie

John D. Rockefeller
http://www.history.com/videos/andrew-carnegie-and-the-homestead-strike#john-d-rockefeller-oil-money-and-power
http://www.history.com/videos/great-minds-of-business-andrew-carnegie#great-minds-of-business-andrew-carnegie
http://www.history.com/topics/labor/videos#1930s-gm-sit-down-strike
Brooklyn Bridge
http://www.history.com/topics/brooklyn-bridge/videos/the-brooklyn-bridge
http://www.history.com/topics/andrew-carnegie/videos/andrew-carnegie
http://www.history.com/topics/andrew-carnegie/videos/the-men-who-built-america-monopoly?m=528e394da93ae&s=undefined&f=1&free=false
http://www.history.com/topics/andrew-carnegie/videos/homestead-strike?m=528e394da93ae&s=undefined&f=1&free=false
http://www.history.com/topics/inventions/transcontinental-railroad/videos/transcontinental-railroad
Write what each inventions is, who invented and how it impacted the nation.
Patent
exclusive right to develop, use, an sell an invention for a set period of time.
J.P. Morgan
made wealth in banking
invested in research labs
http://www.history.com/topics/john-pierpont-morgan/videos/the-rise-of-j-p-morgan
Social Darwinism
- survival of fittest

ICC
- Oversee Railroad operations

Sherman Antitrust Act
- law banning any trust that restrained interstate trade or commerce.
sweat shops-long days, little pay, children, bad conditions, bad bosses
Company towns-owned by factory, company store, segregated
grew up modest family
made wealth in Oil-Standard oil
used Horizontal and Vertical integration
Very shrew
Tithe 10 % from every paycheck
Andrew Carniege
Born poor in Scotland - Rags to Riches
Invest in Iron-figures out it is a weak product
Invest in invention of Bessemer Process- made steel cheaper and faster
Wrote "Wealth" refers to "Gospel of Wealth" Those who have much must give much.
Gave away millions-built libraries
Horizontal Integration- buy up all competition to create one company.

Vertical integration-own everything it takes to make product.
Closed-not open to every job
NO women or African Americans

May 4, 1886
Chicago-Nationwide strike that turns to a riot. 8 Anarchists arrested (immigrants) 4 hung, 3 released, 1 committed suicide
Homestead Strike
summer 1892
Carnegie steel plant cuts workers wages, workers go on strike.
Frick and Pinkertons help turn it to a riot. Public opinion turns against Unions.
Steel workers lose power
Pullman Strike-May 11, 1894
Pullman Palace car workers go on strike seek help from Eugene V. Debs, all RR workers go on strike. Stops all transportation including mail. President steps in to help end.
Full transcript