Chapter 11 Robber Barons and Rebels

1. Chapter 11Robber Barons and Rebels Armen Gevorkyan CHS 245 Class #17419 November 10, 2010 Dr. Gabriel M. Buelna

2. New Beginning The development and impact of new industrial and political leaders increasing economic growth. Steam and electricity replacing human muscle. Iron replacing wood. Steel replacing iron Diverse inventions of machinery.

3. Production and Change The development of machinery increased the speed of production. Railroad system- ��by 1900 there was 193,000 miles of railroad� (Zinn, 215). The railroad system played a role in transportation of goods, products and people. Farmers move to the cities. Farmers were unable to pay the new railroad rates and purchase the new machinery.

4. Farmers move to the cities. �Between 1860 and 1914, New York grew from 850,000 to 4 million, Chicago from 110,000 to 2 million, Philadelphia from 650,000 to 11/2 million� (Zinn, 215). The control of railroad finances by bankers. Because of the increase in fraud it lead the railroad system to be controlled by six huge systems.

5. 1890s, six huge systems of railway. Four of the six railroad systems were controlled by the House of Morgan. Bankers Kuhn, Loeb and Company controlled the last existing two railroad systems.

6. Financial/Economic Powers J.P. Morgan Morgan was a financial banker who conquered corporate finance and industrial association. He controlled 100,000 miles of railroad by the 1900. John D. Rockefeller Rockefeller purchased his first oil refinery in 1862 and established the Standard Oil Company of Ohio in 1870. Rockefeller �made secret agreements with railroads to ship his oil with them if they gave him rebates-discounts-on their prices, and thus drove competitors out of business� (Zinn, 218).

8. Andrew Carnegie Made his millions by selling railroad bonds for huge commission. A entrepreneur who built a wealth by founding the Carnegie Steel Company, later selling his steel company to J.P. Morgan. J.P. Morgan Profited over the Carnegie Steel Company and later formed the U.S. Steel Corporation.

9. Social Structure The rich were given more equal treatment than those classified to be considered as lower-class. Disputes amongst the upper-class were handled in a peaceful manner whereas the lower-class was to be controlled. The increase of immigrants to the U.S. Between the 1880s and 1890s a vast amount of immigrants from Europe increased. Many of the new immigrants became laborers, housepainters, stonecutters, ditchdiggers. (Zinn, 225)

10. Farmers Impact of the railroad system and machinery. Railroads paved the way and took the best land, many of which were Indian Villages. Farming increased as machinery helped increase production of goods grown. Prices of transportation and for the machinery increased and price for producing decreased. Many farmers suffered loosing their homes to pay the bank for the loan (railroad transportation and machinery used for farming). �The government played its part in helping the bankers and hurting the farmers� (Zinn, 241).

11. Farmers Alliance Farmers Alliance First organized in Texas and spread into other states and territories in the Midwest and South. Farmers set up helpful owned stores and organizations. The purpose of the alliance was to provide the producer more control in buying their products. �A call was issued to farmers to scrape together the needed capital for the exchange to operate� (Zinn, 243).

12. Populist Party Populist Party The Populist party was provided to help farmers in need. Greenbacks �The government would have its own warehouses where farmers would store produce and get certificates from its sub-Treasury� (Zinn, 243). The availability of currency increased and farmers no longer depended on gold and silver. Greenbacks pushed the amount of farm production for more currency.

13. Work Cited Zinn, Howard. A People's History of the United States: 1492-present. New York: HarperCollins, 2003. Adobe Digital Editions.