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Rise of Big Business 1870-1910

Rise of Big Business 1870-1910. Industry to the Civil War After Civ. War- Powerhouse A. Era of Inventions / Innovations 1. Communication- Telephone, Gas Engine. 2. Transportation- Henry Ford, Assembly Line production *3. Electricity- Thomas Edison, Phonograph, Electric Light

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Rise of Big Business 1870-1910

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  1. Rise of Big Business1870-1910

  2. Industry to the Civil War • After Civ. War- Powerhouse • A. Era of Inventions / Innovations • 1. Communication- Telephone, Gas Engine

  3. 2. Transportation- Henry Ford, Assembly Line production • *3. Electricity- Thomas Edison, Phonograph, Electric Light • Importance of Edison’s Inventions for people: more time for things, entertainment

  4. B. Leaders of Industry • Entrepreneurs- risk takers, new technology • Foster radical changes • 1. Andrew Carnegie- Steel • *2. John D. Rockefeller- Standard Oil Company

  5. C. What Entrepreneurs Did • Created Big Business Monopolies- • *1st Monopoly- Railroad Industry • Very Important- Why? • Look at reading sheet • * Are monopolies good or bad for regular people?

  6. D. Focus- John D. Rockefeller • Humble origins • Starts as a Bookkeeper for railroad • 1865-1890: Builds Oil Empire –sometimes through questionable means • Questionable Tactics-

  7. John D. Rockefeller

  8. Standard Oil Gas Station

  9. Major Innovations- Trusts • 1882- Forms Standard Oil Trust • What is a Trust? • Purest form of a Monopoly • Many industries copy • Govt. eventually makes Trusts break up

  10. Rockefeller’s Philanthropy- helps many • Rockefeller Center- NYC • * The changes that happen because of big business effect everyone in the USA. • How people get their products , where people live, etc.

  11. Government • Free Competition • lassez-faire • Business cycle • Social Darwinism • Govt. tries to break up • Sherman Anti-Trust

  12. Common People • 1. Population Shift from rural to urban • 2. Rise of Labor Unions • “Gilded Age” • Vast Inequality of Wealth • Labor/ Housing Conditions

  13. poor pay, long hrs, discipline • Tenements, Child Labor • Workers Resented • labor unions, socialism • labor unions- pg. 424

  14. Populism

  15. Roots • Money • Farmers- debt • inflation-good • Wealthy- cheap money • What makes the value of money?

  16. A. # of paper bills • Gold and Silver reserves (gold standard vs bimetallism)

  17. Populism • What is it? • Roots- Granger Movement, Greenback Party

  18. Populist Program • 1. Silver • Graduated Income Tax • Govt. owns utilities • Direct Elect Senators

  19. Election of 1896 • High Point for Populists • William Jennings Bryan • “Cross of Gold” Speech • William McKinley • Populist lose- fade away

  20. Greatest Impact- future- in Progressive Movement

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