For Tomorrow
Feuchtless!
Bring Your Book!
1.) Read for 546-554 for quiz Friday
Know Carnegie-Mother Jones
2.) 1 5–7 sentence response to Varying
Viewpoints Question 1 or 2
Transcontinental RR -
Union Pacific RR & Central Pacific RR
 gov. subsidies  Irish  Chinese –
 meet in 1869 in Ogden, Utah
Imp. :
 1 2 3-
RRs Flourish!
steel rails -
Cornelius Vanderbilt, NY Central standard gauge tracks Westinghouse air brake Pullman "Palace Cars“ Labor still dangerous (1888 = 20,000 inj.)
Impact of RR on US
National Economy Industrialization Mining and Agriculture Immigration Environment Time (1883) Wealth -
Dirty Tricks in RR Biz!
“stock watering” bribery -
The "pool“ “rebates” and “kickbacks” price gouging
-
Early Efforts to regulate
begins with the states in 1870s –
Wabash v. Illinois (1886) -
Interstate Commerce Act (1887) –
1 – outlawed _____ & ______
2 – must publish ___________
3 – created ICC –
The First! –
but . . .
nd
2
Industrial Revolution
1860:
4th
1894: 1st
WHY?
1.) "liquid capital" –
2.) natural resources 3.) cheap labor 4.) “American ingenuity”
Bell – ‘ 76 Sholes – ’67 Edison – ’79 -
Schedule
554-562 for Monday
623-630 for Tuesday
630-638 for Wednesday
Chapter 25 & 28 Exam next
THURSDAY
Tactics of the “Robber Barons”
vertical integration Carnegie
steel
horizontal integration John D. Rockefeller
oil
"trust" -
Carnegie, Morgan, & Steel
Steel Boom:
Bessemer Process access to coal and iron ore
labor
Andrew Carnegie Bought out by JP Morgan in 1900 Morgan forms US Steel in 1901
Rockefeller and the Standard Oil Co.
kerosene –
1877 – 95% of all _________
oil business killed by
________ then revived by
_____________
His Tactics
consolidate –
12ruthlessly price-out all competition
video stores? –
oligopoly -
monopoly -
How do we think about this insane
wealth?
Darwinism –
The Gospel of Wealth –
Horatio Alger –
Social
myth
or reality?
Constitutional safeguards for industry
Wabash v. Illinois ruling –
Interstate Commerce Clause
The
th
14 Amendment
interpret corporations as
‘persons“ –
protects -
Sherman Anti-Trust Act - 1890
goal -
problem actually used to break-up
___________ .
but . . .
Schedule
623-630 for Tuesday
630-638 for Wednesday
Chapter 25 & 28 Exam
THURSDAY
The Birth of Unions
Why?
more _______ than ________
Goal = collective bargaining
solidarity –
power comes from The First 2 Big Unions:
1.
2.
2 Types of Unions
Craft 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 -
 end of the Jeffersonian ideal
a nation of wage-earners
 slave to the clock
 industrial virtues taught in school
 women
The “Gibson Girl” ideal –
stenographers and "hello girls“
the reality
 oligarchy 1/10 of the people own 9/10 wealth
Capital v. Labor!
 1877 – The Great Railroad Strike of . . (522) -
 1886 – Haymarket Riot (558)  1892 – Homestead Steel Strike (626)  1894 – The Pullman Strike (631)-
With Your Partner . . .
What caused the ruckus . . .
What ensued as a result . . .
Who won?
CAPITAL
or
LABOR
Why did they win? (what turned the
tide?)
“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.
_________ & ___
The Populist Party
Economic Demands
increased money supply (16:1 silver)
graduated income tax
gov. owned utilities
8 hour work day
immigration restriction
Political Demands
popular election of U.S. Senators
single term for President and VP
Election 1892
Small gains for Populists
Cleveland (D) wins Prez.
The Panic of 1893
overbuilding and overspeculation
agricultural depression
European banks pull money depletion of gold reserve
1895 – Gov. bailed out by -
Reaction to the Panic of 1893
Coxey's Army - 1894
"General" Jacob S. Coxey demands –
Result Free Silver debtors likeee Coin's Financial School (1894) -- William
Hope Harvey
“Silverites” vs. “Gold Bugs” in 1896
William McKinley
Mark Hanna Gold Standard business, banking
outspend Dems 16-1
William Jennings Bryan –
Cross of Gold Speech –
Wins him ___________ & _________
Election of 1896
“Gold Bug”Democrats –
McKinley wins
NE & MW beats S & W -
begins a 16-year high tariffs
Gold Standard Act (1900) more new gold =
Constitutional safeguards for industry
Wabash v. Illinois ruling –
Interstate Commerce Clause
The
th
14 Amendment
interpret corporations as
‘persons“ –
protects -
Sherman Anti-Trust Act - 1890
goal -
problem actually used to break-up
___________ .
but . . .
Tariffs
Republicans = R___________
Democrats = D____________