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Big Business means Big Money

Big Business means Big Money. John D. Rockefeller: Standard Oil Company – gained control of over 90% of the oil industry by 1890. One of Rockefeller’s houses. Rockefeller was accused of working with railroad companies to push other oil companies out of business. Andrew Carnegie:

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Big Business means Big Money

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  1. Big Business means Big Money John D. Rockefeller: Standard Oil Company – gained control of over 90% of the oil industry by 1890 One of Rockefeller’s houses.

  2. Rockefeller was accused of working with railroad companies to push other oil companies out of business.

  3. Andrew Carnegie: First got involved in the railroad industry. Went to England and learning about The Bessemer Process (made it much easier and cheaper to make steel) Started his own Steel company in Pittsburgh in 1875, and soon became one of the wealthiest men in America.

  4. You could say that Andrew Carnegie was a …. MAN OF STEEL!!!!

  5. One of Carnegie’s houses.

  6. J.P. Morgan He’s where the moneys at…yo … Big time banker who was involved in Consolidating businesses, such as electric companies and steel companies.

  7. As the United States Industrialized, workers became more frustrated with their jobs. They joined together and created Unions Union – an organization of workers who negotiate with their employers together.

  8. Why workers wanted to form Unions: Deflation – the value of money went up (Costs went down). As prices fell, so did profits. So companies cut wages. Workers got mad. Angry Worker 

  9. Two different types of Unions: • Trade Unions – Unions limited to people with specific skills (ie Iron Molders, Coal Miners, Assemblers) • Industrial Unions – United all craft workers and common laborers in a particular industry (for example, anyone involved in the steel industry joined the same union) Ways in which corporations tried to oppose Unions: Blacklist – Workers who tried to organize a union or a strike (refusal to work) were placed on a list and no company would hire them. Lockout – Companies refused to let workers onto the property and did not pay them.

  10. Political Opposition People were worried that Unions promoted Marxism Marxism promoted a revolution of the workers against the wealthy.

  11. When Unions got upset, what did they do? STRIKES

  12. The Great Railroad Strike of 1877 Because of poor economic conditions, several railroads cut wages. Railroad workers across the nation ended up walking off the job. Discuss: How would this affect the country as a whole? Strikers began destroying property. Clashes then broke out between strikers and state militias. The federal government finally used the army to end the strike.

  13. Failure of railroad strike convinced laborers they needed more organization. The Knights of Labor – Nationwide industrial union. Called for 8 hour workday, Equal pay for women, the abolition of child labor,and worker owned factories. Supported Arbitration – Process in which an impartial third part helps workers and management reach an agreement Knights of Labor Seal Knight of Labor 

  14. Haymarket Riot: In 1886, workers organized a nationwide strike to fight for an eight hour workday. In Chicago’s Haymarket Square, a bomb went off. Police opened fire. Four workers and seven police officers were killed.

  15. The Pullman Strike 1893 – The American Railway Union (led by Eugene V. Debs) organized a strike against the Pullman Car Company (rail cars). Rail workers refused to handle Pullman Cars. (Pullman workers were upset that weren’t getting paid enough).

  16. Rail managers attached U.S. mail cars to Pullman cars. Why did they do this? It was illegal for strikers to interfere with U.S. mail. President Grover Cleveland sent in troops to keep the mail running. The strikes collapsed.  Grover Cleveland

  17. The American Federation of Labor (AFL) • Nationwide trade union: • Organized by Samuel Gompers • Wanted unions to stay out of politics, didn’t have radical socialist or communist ideas. • Fought for small gains in wages and working conditions. • Preferred negotiations over strikes. • Goals: • 1) Convince companies to agree to collective bargaining • 2) Closed Shops – companies could only hire union members • 3) Wanted an eight hour workday

  18. Women’s Trade Union League Formed in 1903 to fight for women workers. By late 19th century, women made up 18% of the workforce. 1/3 of those women were industrial workers. Jane Addams Mary Kenney O’Sullivan Lillian Wald Leonora O’Reilly

  19. Review and Reinforce! Create two lists with headings that look like this: Important Labor Unions Significant Labor Strikes List, in chronological order, the important unions that were created and significant strikes that occurred, and write a one sentence description for each.

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