FACT of the DAY

1. T E S T 2 FACT of the DAY

2. 13. INDUSTRIAL REVOLUTION * Increase in URBAN (city) Population * Rise in Middle Class * Increased IMMIGRATION from EUROPE * Poor SANITATION (no toilets/clean drinking water) * SLUMS/TENEMENTS are built, overcrowding * ETHNIC Neighborhoods *STEEL is developed Melting P O T

3. Mark Twain called the late nineteenth century the "Gilded Age." By this, he meant that the period was glittering on the surface but corrupt underneath. In the popular view, the late nineteenth century was a period of greed and guile: of rapacious Robber Barons, unscrupulous speculators, and corporate buccaneers, of shady business practices, scandal-plagued politics, and vulgar display.It is easy to caricature the Gilded Age as an era of corruption, conspicuous consumption, and unfettered capitalism. But it is more useful to think of this as modern America’s formative period, when an agrarian society of small producers was transformed into an urban (city) society dominated by industrial corporations – Big Business. G I L D E D AGE 14. * New Inventions - Industry grew * SKYCRAPERS - Cities grew, electric lights-work at nite * Individualism\SOCIAL DARWINISM - ONLY THE FITTEST SURVIVE 1878 - 1889 (everything in RED)

4. AGE G I L D E D “WHAT A FUNNY LITTLE GOVERNMENT.” Horace Taylor drew this political cartoon of John D. Rockefeller holding the White House and Treasury department in the palm of his hand for the September 25, 1899 issue of The Verdict. Notice the smoke from the United States Capitol in the background? It has essentially become an oil refinery, itself demonstrating the power big business held over government. MONOPOLY

5. G I L D E D AGE G I L D E D AGE VANDERBILT Vanderbilt Cornelius Vandebilt Controlled the RAILROADS. M O N O P O L Y

6. G I L D E D A G E Period of the new INDUSTRIAL ERA Phrase coined by MARK TWAIN America emerged as the world's leading Industrial & Agricultural producer Profits became increasingly centralized in the hands of F 1870s-1890s ewer PEOPLE What Twain meant was that the politics of the time looked clean and shiny, but underneath lay rot in the form of corruption and patronage. During this time, businesses bought votes in Congress, leaving workers and consumers with few advocates Political bosses, rather than elected officials ran many cities, In Twain's view, MONEY RULED.

7. Captains of Industry or ROBBBER BARONS 15 Leaders of large, efficient corporations Often gained wealth through QUESTIONABLE business practices MONOPOLIES by these large companies led to demands by small businessmen & laborers f (Captains of Industry) …..used ANTI-COMPETIVE practices to build WEALTH or 1880s Government Regulation

8. 16. CREDIT MOBILIER SCANDAL In 1872, a fraudulent private construction company named Credit Mobilier was discovered to be skimming money off of U.S. government contracts The company was supposed to complete the transcontinental railroad, but instead stole millions of dollars from the government Several prominent Republicans were implicated, including U.S. Grant’s Vice President, Schuyler Colfax. Consequently, blame for the scandal fell on Grant and his cabinet and was one of several scandals that tarred Grant’s 2nd term in off and diverted public attention away from the FAILURE of Reconstruction in the South.

9. 17. Grange Movement Of FARMERS had more than a million members by 1875; it is an example of an early, organized POPULIST political movement. Grangers began by forming economic cooperatives that bought farming tools and sold crops en masse, utilizing the benefits of ECONOMIES OF SCALE. They then evolved into a political organization, endorsing candidates and lobbying for legislation supportive of farmers.

10. T R U S T 18. Is a group of business that operate together to fix prices and to prevent new competitors from entering the market, forming and effective monopoly. In the 19th and early 20th centuries, populist leaders railed against trusts like Standard Oil and U.S. Steel.

11. Economies of Scale 19. As manufacturers turned to machines in the 19th century, they found that their cost per unit went down as the number of units produced went up The lower their cost, the cheaper they could sell their products for. The cheaper they sold for, the more they SOLD. The more they sold, the cheaper the product became to produce and so on, and so on.

12. 20. Holding Companies First arose in the 19th century. Holding companies own enough stock in other businesses to have a controlling interest in every aspect of production, from the production of raw material all the way to the distribution of the final product. They often become monopolies, with effective control of an entire industry.

13. Horizontal Integration 21. Was a business practice common at the end of the 1800s. A group of small companies in a single industry are combined to form an effective monopoly. The smaller companies are either bought out by a larger one, or they are destroyed through ruthless business practices. (survival of the fittest). It became illegal under antitrust legislation passed at the turn of the 20th century (1900s)

14. VERTICAL INTEGRATION 22. Join all the processes of an industry under one Company

15. Knights of Labor 23. Militant organization seeking solutions to labor problems Allowed skilled & unskilled workers (along with women & blacks) to join Wanted an 8-hour work day, termination of child labor, equal pay for equal work, and the elimination of private banks Under TERRENCE POWDERLY'S leadership, the Knights reached membership of over 700,000 Downfall caused by emergence of the AFL ......mismangement, and financial losses from unsuccessful strikes ....sometimes violent strikes 1869

16. 24. SOCIAL DARWINISM Theory that wealth was based on the survival of the fittest: associated with CHARLES DARWIN'S work Wealthy industrial leaders used the doctrines to justify vast differences in classes (of People) Proponest of this theory believe that only the FITTEST (business, or Country or PERSON) can & should survive. Social Darwinism was a popular theory among ANDREW CARNEGIE and other CAPTAINS of INDUSTRY 1880s

17. American Federation of Labor (AFL) 25. was a UNION of SKILLED laborers formed by Samel Gompers in 1866. It quickly became one of the most POWERFUL unions in the USA. It favored "bread & butter issues" like shorter work days and highe higher wages for union members. It merged with its rival, the Confederation of Industrial Organizations, in 1955 to form the AFL-CIO. Philosophy was "pure & simple unionism"

18. Homestead STRIKE 26. IRON & STEEL workers' strike against CARNEGIE Steel Company in Pittsburgh to protest salary reductions HENRY CLAY FRICK hired PINKERTON security guards to protect Carnegie's plant but fighting began and several deaths resulted on both sides Pennsylvania state militia was brought in to take control 1892

19. Haymarket Square Riot 27. Large rally in Haymarket Square in Chicago shortly after striking began at McCormick Harvestng Machine Co. Police attempted to disperse the crowd, which was followed by a bomb explosion ( Reinforced public perception that unions were subversive) May 4, 1886 Eight ANARCHISTS were put on trial & four were EXECUTED Incident was used to discredit the KNIGHTS of LABOR

20. 28. CHINESE EXCLUSION ACT 1882 Only legislation passed to LIMIT immigration of any one group of people Passed in response to the CHINESE who settled in CALIFORNIA after building the RAILROADS

21. 29. Political Bosses Held vast power in many cities in the 1880s. Local governments provided few services. Political bosses helped people find jobs, and homes, built parks and constructed INFRASCTURCTURE and funded police, and fire departments. In return, the bosses expected votes from citizens and" donations” from municipal governments. Many political bosses were affiliated with ORGANIZED CRIME; the most NOTORIOUS was News York City’s “BOSS” TWEED