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Goal 5: The Gilded Age

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Alex Wickham

on 19 May 2011

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Transcript of Goal 5: The Gilded Age

The Gilded Age (1877-1900) Goal 5 a period of U.S. history in the 1870s noted for political corruption, financial speculation, and the opulent lives of wealthy industrialists and financiers Cleveland= laissez faire presidency, favored Indian assimilation Cleveland blamed for 1893 Panic monopolies- accumulating all companies that make a product trusts-controls all byusinesses in a monopoly Andrew Carnegie owned Carnegie Steel; vertical integration (monopoly controls all means of producing products) Remeber: Car Needs Steel ! John D Rockefeller organized Standard Oil Company; horizontal integration (eleminating ALL competition Gospel of Wealth- Anglo-Saxon race is superior; inequality is good; wealthy should distribute their wealth trhough institutions Social Darwinism "survival of the fittest" JP Morgan created J.P. Morgan & Company (banking) Cornelius Vanderbilt consolidated railroads Remember Vanderb(u)ilt Railroads Both were robber barons! (a person who gains wealth through illegal means) Interstate Commerce Commission- 1st attempt to regulate big businesses (railroads) Sherman Anti-Trust Act outlawed any trust that operated in retraint of trade among states Craft Union a labor union whose members work in a particular craft Trade Union a union whose workers work in the same union Eugene Debs American Union Leader; founding member of Industrial Workers of the World (IWW) Knights of Labor leader Terence Powderly; accepted women and blacks. Goal 8 hr workday with equal pay for men and women American Federation of Labor (AFL) leader Samuel Gompers no blacks, skilled workers. Goals improve wages, shorter working hours Strikes- The Great Railroad Strike of 1877 caused 10% reduction wages; Homestead Steel Strike worker's wages cut. Union called for a strike people began to turn against them; Pullman Strike laid off workers and cut wages but not rent Old Immigrants vs. New Immigrants Old from Norther Europe (Ireland) New from Souther & Eastern Europe (Italy) Old worked and lived on farms New lived in tenements & worked in factories Ellis Island= Europe Immigrants Angel Island= Asian immigrants muckraker is a reporter who published truthful reports of social issues Gilded Age Corruption Democratic Bloc- White Southerners; "solid south, Catholics, immigrants, poor Republican Bloc- Northern whites; African Americans, Protestants; middle class Boss Tweed was a boss who gave jobs to political supporters Tammany Hall political machine that influenced Democrays Wabash vs. Illinois government can regulate private businesses U.S. vs E.C. Knight US had no control over monopolies Government Initiative a law that starts through populat petition Recall the removal of a public official by a popular vote Referendum a referral of laws/amendments to the voters Secret (Austrailian) Ballot are ballots that will be marked in secret Thomas Edison had the idea to invent the. . . light bulb! phonograph, Ediphone, motion picture camera George Westinghouse invented air brakes and DC currents And Alexander Graham Bell invented the . . . telephone! Elisha Otis made the 1st elevator Pendleton Act- federal government jobs became civil service exam positions
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