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64 Cards in this Set
- Front
- Back
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New South
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Southern government action in promoting industrial development and growing national markets re-shaped the Southern economy. Some Southerners abandoned the past by investing in industrial enterprises like
Railroads, cotton mills, coal and iron mining and production, and tobacco factories. These traditions were especially public education, urbanism, and industrialism |
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Tenant farming
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ownership, however decreased over time. As tenant farming increased the old Southern tradition of asymmetrical social relationships became reinforced
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how was the West’s relationship with the East?
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The West as we know it is an Eastern invention. Much of the West as we know it is a literary invention written by Easterners. But the West is heterogeneous: It is made up of many places
Fertile valleys Desert wastelands Vast grasslands High mountains Rugged coastal regions Dense forests Like the South the West was dependent on the national government and the Eastern (Northern) economy. The Eastern market provided the West what it needed, and the West provided the East with the raw materials that the expanding economy was based on. Western promoters and developers had access to Eastern capital and important social and economic connections. |
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Homestead Act
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encouraged individuals and corporations to settle west with the offer of practically free land
160 acres (1/4 section) $10 filing fee 5 years occupancy |
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Dawes Act
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sought to free Indians from governmental dependence and to encourage American traditions of ownership, rural agrarian society, farming, and market economics
Reservations broken up and individual Indians given 160 acres held in trust for 25 years Surplus land sold to settlers |
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Cattle industry
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The cattle industry reflected the nature of western history. The rise and collapse of the cattle industry was related to the rise and fall of the national market economy. A great deal of profit was made in the cattle industry and a great amount of capital was needed to increase profits
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The concept of a market
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People desired railroads because it gave them access to greater markets. “Markets” is a metaphor for the collection of people that are interested in buying particular goods. Markets are simply a sum of individuals.
As market becomes depressed many individuals found themselves in debt. Expansion of agriculture depresses market. Greater integration of Southern economy into national and international markets |
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Relationship between railroads and industrialism
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government policies promoted enterprise in the west. Railroads were given huge tracts of land by state and federal governments. Railroads promoted settlements, farming, and industry
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Standardization
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Thus to alleviate the pressures of capital and competition they turned to standardization and investment banking. Standardization came in the form of time zones (1883) and signals, but standardization in the form of rates through the establishment of pools became controversial
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pools
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these were agreements by competing railroad companies to set minimum rates. Some 1 were successful, but many failed as companies cheated and sought to undercut their competition
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Economy of scale
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That one can cut costs by doing something on a bigger scale. American railroads were the first big business in history.
Big business is defined by size in cost and capital. |
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Division of labor
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Lowering costs by reducing tasks to component parts to create efficiency
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Continuous flow
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is created when an economy of scale and division of labor is maximized. Continuous operations. Meatpacking industry demonstrated how 1 created efficiency and lowered cost
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Marketing
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So the key to the economy is the 1. or the people who consume produced goods and services. In order for businesses to be successful they have to create 1. They do this through advertising and marketing. Advertising and marketing increased the competition among manufacturers
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Vertical integration
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Owning the entire process of production from the raw materials to the marketing of the product
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Horizontal integration
coorporations trusts holding company |
Organizing competitors in cooperative organizations such as: (2- People acting together as if they formed an individual person for public purposes stated in their charter)
(3- The organization of corporations into a common association to protect against competition. Stockholders deposited controlling portions of their stock with trustees and received a trust certificate) (4- A consolidation of companies into a single company) -Many companies employed both strategies to reduce competition and increase efficiency |
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Business hierarchy
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The hierarchy that railroads established was necessary in establishing cooperation and streamlining operations. The board of directors ran the operation indirectly through various departments that were run by managers. And managers hired people to work under him. This hierarchy is basically modeled after military organization which is based on basic human hierarchy which is based on the family
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The basis of economics
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I would say that the emergence of the modern economies of scale is ultimately built on the founding traditions that inspire the great levels of cooperation that lie at the basis of American nationalism. However, like everything else, the emergence of the modern American economy is a double edged sword. Remember when one discriminates in favor of another, it is necessarily at the expense of someone else. The economic revolution has obviously had a positive effect on the nation, but there were negative consequences as well.
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J. P. Morgan
2. oil 3. steel |
Railroads turned to investment bankers like 1. in their search for capital. Investment bankers could buy stock in bulk and that is how 1. got control of so many 2 by the end of the century. 1. also acquired control of U.S. 3 in this fashion
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Andrew Carnegie
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Vertical integration can be seen in Gustavus Swift and Andrew Carnegie
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Late nineteenth century immigration
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The need for large amounts of unskilled labor drew immigrants to the U.S. The emerging nationalism in Germany and Italy brought about military conscription. Also the emergence of a national economy in those countries created disruptions in local economies as they became integrated into the international economy. They created and established institutions that reinforced ethnicity. Churches, mutual-aid societies, clubs, newspapers all were the effect of this ethnic behavior. During the late nineteenth century, the Americanization process coupled with ethnic resistance in favor of tradition.
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Chinese immigration
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Ethnic behavior ultimately created a backlash against immigrants, especially those from non-European countries. Chinese were specifically targeted.
Sandlot Revolt- Chinese could not vote, get public employment, or remove them from municipalities, or live in certain areas |
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Chicago and urbanization-
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1. doubled its population every decade between 1850 and 1890, growing from 30 thousand to over one million in little over a generation. Some people were not pulled to the city but were pushed off the farm and just ended up in the city more or less by accident. The primary cause of population growth during this period in the U.S. was not immigration but high fertility rates of Americans in the country. But Chicago grew horizontally as well as the city expanded into the surrounding countryside.
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Urban political reform
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The rapid growth of urban areas after the Civil War contributed to numerous of problems for urban dwellers. Firefighting, water and sewage, trash collecting, and transportation services were some of the services acquired and managed by city governments these developments were part of urban reform. Problems: Housing was inadequate, sanitation was non-existent, political system was corrupt (boss rule was the standard- asking the political leader for a favor with trade in return.)
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National Labor Union
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formed in 1866 in an effort to reform the economy to one based on an 8 hour workday and worker-controlled cooperative enterprises. The 1 collapsed as it became transformed into the National Labor Reform Party and made a poor showing in the 1872 election year
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Knights of Labor
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The Knights of Labor emerged from the collapse of the NLU. The Knights sought to create a “brotherhood” of workers that sought reforms through union and political activity and became successful with no segregation. Trade unions that could pressure employers for concessions. the knights were for: Cooperative enterprises, Banking reform, Greenbacks, An end to the close relationship between government and monopoly, Active legislation in favor of improvement of working conditions, Public ownership of telegraph lines and railroads. As the Knights grew in numbers the internal pressures took its toll because different types of workers wanted different issues corrected. led to strikes, riots, when they denounced strikes the organization collapsed.
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American Federation of Labor
AFL |
Because immigration provided a steady supply of unskilled labor and made organization of unskilled workers impossible, skilled workers sought to protect their own interests, they did this by organizing a national federation of skilled workers union. 1 worked by having the means to provide its members with the means to continue their lives while on strike or looking for work with: Strike funds, Burial pay, Local assistance, Rooming houses
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Business unionism means
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The 1. was a union that was organized like a business in the sense that it was an operation of scale with a bureaucracy and central leadership. But the 1. only had so much power. The Homestead Strike of 1892 demonstrated that businesses could basically do as they pleased when they put their mind to it.
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The basis of Gilded Age moral reform-
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Based on reform Protestantism, Reform individuals and society. needs for reform, Social changes- industrialization, urbanization, immigration ( led to social instability such as crime, vice, and disease). Political reform also motivated by social and economic changes in the US, Urbanization and boss-run political machines
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WCTU and moral reform
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was a reform organization, Intimately associated with the women’s movement. Continuation of temperance movement. Temperance and women’s movements one in the same…they are joined at the hip;why? women are the basis of social behavior.
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Civil service reform
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undermined the ability of bosses to hand out patronage and politicians to selfishly favor party over common interests. Republican reformers called Mugwumps led the way to civil service reform (They favored a merit system to undermine the spoils system and urban bosses)
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Pendleton Act of 1883
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it took the 1. to make the Civil Service Commission permanent, Civil service became professionalized in the name of reform and efficiency
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Relationship between government and regulatory reform
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Government grew as it became more involved in the bureaucracy of regulation. The government’s regulation of railroads initially contributed to this process on a national level. State regulations made national regulation more acceptable. The point is that growing bureaucracy and regulatory commissions inflated the size and responsibility of government at the time.
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Railroad commission
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This early commission only gave advice to the railroads: Rates, standards (air brakes), etc
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Tariffs
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But it was the issue of the tariff that really exposed cracks in the old system. Southern businessmen began to waver in favor of Republicans’ strong tariff stance. New England farmers began to favor the Democratic Party on its stance towards reducing the tariff
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Deflation
increase decrease |
Tight money supply, 2 interest rates. 3 of currency in circulation. Decreased 10% 1865-1890
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what ultimately under-minded the ability of labor unions to influence or power necesary to remake the relationship between capital and labor?
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the massive flow of immigrants and the stigma of violence associated with strikes and workers: Great Strike of 1877, Haymarket Square 1886, Homestead Strike 1892, Pullman Strike 1894
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Paternalism
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Bosses handed out favors in return for political support. The problem with boss rule was that is did not offer long term programs that encouraged constituents to sacrifice for the benefit of all. It undermined society then
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Grover Cleveland
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president, continued republican policies of high tarriffs and hard money, contenting himself with improving the quality of civil service by curtailing the spoils system. (597) Determination to preserve the gold standard against radical opposition in his own party led to the rise of Bryans Silver Democrats.
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Ida Tarbell
2. oil industry |
a writer brought up in the 2. because of her father. wrote about the 2. raising problems because of size and control. since it was so expensive to drill for 2 in remote places or deep in the land.
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Alaska
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was the first possession of the united states which was not contagious
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Christianity and American (imperialism
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(imperialism -the policy of extending the rule or authority of an empire or nation over foreign countries, or of acquiring and holding colonies and dependencies) the american christian republic was a triumphant success. because it was protestant- failure was evidence of moral unworthiness, of the kind associated with decadent catholics in southern europe and latin america (610)america was the leading missionary force, in terms of the resources it deployed, especially in asia and the pacific and the white races in general and the anglo-saxons would succeed in bringing a universal faith.
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Spanish-American War
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conflict between the United States and Spain that ended Spanish colonial rule in the Americas and resulted in U.S. acquisition of territories in the western Pacific and Latin America.The war originated in the Cuban struggle for independence from Spain. An army of regular troops and volunteers under Gen. William Shafter (and including Theodore Roosevelt and his 1st Volunteer Cavalry, the “Rough Riders”) landed on the coast east of Santiago and slowly advanced on the city in an effort to force Cervera’s fleet out of the harbour. By the Treaty of Paris (signed Dec. 10, 1898), Spain renounced all claim to Cuba, ceded Guam and Puerto Rico to the United States, and transferred sovereignty over the Philippines to the United States for $20 million. The victorious United States, on the other hand, emerged from the war a world power with far-flung overseas possessions and a new stake in international politics that would soon lead it to play a determining role in the affairs of Europe.
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Corollary to the Monroe Doctrine
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roosevelt argued that since european interference in the hemisphere was unacceptable, and since foreign powers whose nationals had invested heavenly in Latin American states might be tempted to subvert them if corrupt governments reneged on debts or permitted plundering, the US had a prior right and duty to forestall such crisis by acting itself. he made the roosevelt corollary part of his 1904 annual address to congress.
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Coming of age of the American University
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was coming of age and had entered a period of unprecedented expansion and improvement. harvard charles william eliot transformed the university adding to its courses, founding graduate schools, establishing exchange professorships with france and germany, developing an ‘elective system’ of undergraduate courses in which students played a part in their curricula
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Theodore Roosevelt
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called his new ideas the new nationalism, he proposed to regulate business by a federal trade commission with formidable powers, to end the tariff rows once and for all by having an objective tariff commission settle them ‘on a scientific basis’, and to narrow the extremes between rich and poor by graduated income tax and death duties.
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Roosevelt Corollary
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as a corollary (forming a proposition that follows from one already proved.) he argued that, since european interference in the hemisphere was unnacceptable, and since foreign powers whose nationals had invested heavily in latin america states might be tempted to subvert them if corrupt governments reneged on debts or permitted plundering, the united states had a prior right and duty to forestall such crisis by acting itself.
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William Howard Taft
16 - exempted income taxes and 17 amendments - direct election of United States Senators |
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important because he added 2 and 3 principle characteristics were his ‘native laziness and shiftlessness’. under president taft, congress had been encourged bu the white house to put throuh teo constitutional amendments, 16th and 17th, both of which were ratified and became law in 1913. 16th-This amendment exempted income taxes from the constitutional requirements regarding direct taxes, after income taxes on rents, dividends, and interest were ruled to be direct taxes. 17th- established direct election of United States Senators by the people instead of indirectly by state legislatures. |
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Progressive Party
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was an American political party. It was formed by former President Theodore Roosevelt, after a split in the Republican Party between himself and President William Howard Taft. taft tried to rationalize and reduce high US tariffs, again something he though TR wished. but this merely led congress to make a fool of himself and split the party. he also broke up the standard oil and initiated proceedings against us steel. he started twice as many antitrust suits as roosevelt
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Shlaes on the 1920’s bull market as a speculative bubble
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opposes governement regulation
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Hoover’s approach to the Depression
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at first he focused fixing it with domestic fiscal tools. then within a year he did sever damage on 3 fronts:
by intervening the business, by signing into law a destructive tariff, and by assailing the stock market. his general push was to keep high wages and keep up employment. |
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Smoot-Hawley Tariff
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raised import duties to protect American businesses and farmers, adding considerable strain to the international economic climate of the Great Depression. The Smoot-Hawley Tariff Act raised the United States’s already high tariff rates. for the economists proved right: Smoot- Hawley provoked retaliatory protectionist actions by nations all over the globe, depriving the united states of markets and sending the country into a deeper slump.
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1 Deflation and
2. borrowers |
1. meant that the currency was becoming more valuable everyday, rarer and scarcer. 1 was good for lenders; the money they are owed in the future is more valuable that it was when they wrote the original contract to lend. but 1 was terrible for 2, it means they must pay back more than they originally contracted to borrow.
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Father Divine
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Reverend M. J. Divine, was an African American spiritual leader, on long island. he served meals on sunday, his meals were luxurious. he charged nothing, any man or woman or child regardless of color, race, or creed can go naked and they will clothe them, and if they are hungry he will feed them.
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Revenue Act of 1932
2. taxes |
hoover signed into law a large tax increase: the 1. hoover had mellons support. increased American 2 greatly in an attempt to balance the federal budget, and by doing so it dealt another contractionary blow to the economy by further discouraging spending. increase did not affect everyone, the avg citizen did not pay it. still, 2 increases generally were like interest rate increases. neither citizens nor the economy could handle it. the deflation made tax story even worse; at a time when every dollar counted more, the law took dollars away by raising taxes. the house had already gone demecratc in the midterms,but republicans still held the senate and the white house. yet this tax act was such a antiwealth gesture, it seemed a sort of symbol of republican capitulation to a coming Democratic moment.
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Candidate Roosevelt’s targets in the campaign for reform
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he believed the country had grown too fast. he complained about high taxes:”government cost too much” he blamed the depression on national greed. he pledged the ppl and himself to a new deal. his main interest was trade and political leverage; having the soviet union as an ally would help the U.S. he was also against inflation. father divines constituent souls- had believed in a future of plenty, roosevelt believed ina future of scarcity. the paradox was that he presented the message in a framework of optimism, to the music of the tune “happy days” and with, simultaneously, an unspoken offer of an end to prohibition. more and more voters began turning to roosevelt.
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The main assumption behind the NRA-
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the nra was the consummation of a thousand articles and a thousand trends. it was the ideas of Moley, the trade unions, stuart chase, tugwell, stalin, insull, teddy roosevelt, henry ford, and mussolini’s italian model all rolled into one. the law worked on the assumption that bigger was better and that industry, labor, government must work together, as in italy, or risk staying in depression. it advocated both greater productivity and greater efficiency while forbidding price cutting, in order to nudge prices up. more than a hundred industries would establish codes of business, codes that included minimum wage rules, child labor rules, maximum hour rules. the idea was to increase the efficiency. if smaller businesses died out, that might be for the best anyhow.
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The radical nature of the AAA
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this was the a twin for the NRA to sort out farming. the official purpose of the AAA was to be to “relieve the national emergency by increasing purchasing power”- especially the power of the farmers. the AAA was radical , both in the scope of the legislation and the authority it gave officials. it began to pay farmers to produce less since there was too much production and not as much demanded.
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Roosevelt’s four goals of the TVA
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is a federally owned corporation in the United States created by congressional charter in May 1933 to provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley, a region particularly affected by the Great Depression.
1st: was to provide electricity to homes and farms. 2nd was to increase the use of electricity in all homes, providing americans with a better standard of living. 3rd was to reduce the cost of electricity to the average consumer. 4th more ephemeral (lasting for a very short time) that through the electricity industry the New Deal might create a new and more prosperous form of society. |
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Wendell Wilkie
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indiana born graduate. he heads commonwealth and southern, a new utility. on behalf of his company, wilkie battles with roosevelt’s tennessee valley authority. he runs for president as a republican in 1940. he was more on roosevelts side than Insull. the TVA would compete with existing private power companies in the area, including Commonwealth & Southern. This prompted Willkie to become an active critic of the TVA, as well as other New Deal agencies that directly competed with private corporations. Willkie's argument was that government-controlled organizations (such as the TVA) had unfair advantages, in that they did not have to make a profit and could thus charge cheaper rates than private corporations needed to levy in order to operate at a profit.
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agricultural overproduction
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source of famers problems
Increased foreign competition |
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the grange or patrons of husbandry
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Began as a response to farmers social and educational isolation. cut costs, Freed farmer from traditional marketplaces Became involved in state and local politics
State regulation of rates Railroad rates Warehouse rates Munn v. Illinois (1877) States have the right to regulate property involved in public interest |
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Farmers Alliance
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A national movement, Strongest in the South, Also a Colored Alliance, The most important institution established by the Alliance was the cooperatives,
failure: Inexperienced management Overextended credit Discriminated against by: Wholesalers Railroads Bankers |
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farmers alliance
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Allowed farmers to obtain loans
Loans up to 80% of crop value at 1% interest This plan was to give farmers credit and also allowed farmers to hold crops until price rose The aim was to promote inflation Alliance members ultimately turn to politics to push the subtreasury plan in congress |
