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For Tomorrow

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 –

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For Tomorrow

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  1. 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

  2. Transcontinental RR - Union Pacific RR & Central Pacific RR • gov. subsidies - • Irish - • Chinese – • meet in 1869 in Ogden, Utah Imp. : • 1- • 2- • 3-

  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.)

  4. Impact of RR on US • National Economy - • Industrialization - • Mining and Agriculture - • Immigration - • Environment - • Time (1883) - • Wealth -

  5. Dirty Tricks in RR Biz! • “stock watering” - • bribery - • The "pool“ - • “rebates” and “kickbacks” - • price gouging -

  6. 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 . . .

  7. 2nd Industrial Revolution • 1860: 4th1894: 1st WHY? • 1.) "liquid capital" – • 2.) natural resources - • 3.) cheap labor - • 4.) “American ingenuity” • Bell – ‘ 76 - • Sholes – ’67 - • Edison – ’79 - • Drake – ’59 -

  8. Schedule • 554-562 for Monday • 623-630 for Tuesday • 630-638 for Wednesday • Chapter 25 & 28 Exam next THURSDAY

  9. Tactics of the “Robber Barons” vertical integration - • Carnegie • steel horizontal integration - • John D. Rockefeller • oil • "trust" -

  10. 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

  11. Rockefeller and the Standard Oil Co. • kerosene – • 1877 – 95% of all _________ • oil business killed by ________ then revived by _____________

  12. His Tactics consolidate – • 1- • 2- ruthlessly price-out all competition • video stores? – • oligopoly - • monopoly -

  13. How do we think about this insane wealth? • Social Darwinism – • The Gospel of Wealth – Horatio Alger – • myth or reality?

  14. Constitutional safeguards for industry Wabash v. Illinois ruling – • Interstate Commerce Clause The 14th Amendment • interpret corporations as ‘persons“ – • protects -

  15. Sherman Anti-Trust Act - 1890 • goal - • problem - • actually used to break-up ___________ . • but . . .

  16. Schedule • 623-630 for Tuesday • 630-638 for Wednesday • Chapter 25 & 28 Exam THURSDAY

  17. The Birth of Unions • Why? more _______ than ________ Goal = collective bargaining • solidarity – • power comes from - The First 2 Big Unions: • 1. • 2.

  18. 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 -

  19. 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

  20. Capital v. Labor! • 1877 – The Great Railroad Strike of . . (522) - • 1886 – Haymarket Riot (558) - • 1892 – Homestead Steel Strike (626) - • 1894 – The Pullman Strike (631)-

  21. 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?)

  22. “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. _________ & ___

  23. 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 • secret ballot

  24. 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 -

  25. 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

  26. “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 ___________ & _________

  27. 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 =

  28. Constitutional safeguards for industry Wabash v. Illinois ruling – • Interstate Commerce Clause The 14th Amendment • interpret corporations as ‘persons“ – • protects -

  29. Sherman Anti-Trust Act - 1890 • goal - • problem - • actually used to break-up ___________ . • but . . .

  30. Tariffs • Republicans = R___________ • Democrats = D____________

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