The Gilded Age

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WHY did the u.s. develop as an industrial power at this time?

Back 1

rich supply of natural recourses LAND, iron, coal, ore, oil, etc. lead to development of industries (steel etc.) AND farming production grains meat cotton tobacco etc. lead to development of meat packing industries, chicago stockyards, food processing co.

Front 2

LABOR was scarce SO....

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europeans worked for low wages in urban factories WHICH expanded market for industrial goods. ALSO A.A. moved north. AND free public education allowed large #s of workers to be educated.

Front 3

THE U.S. IS A

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free market economy (capitalism)- wealth is privately owned and invested. WHICH then encouraged/enabled people to finance industrial expansion (CAPITAL)- hard work would be rewarded.

Front 4

development of new inventions and technologies was encouraged by

Back 4

US PATENT LAWS

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BESSEMER PROCESS

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steel replaces iron as a basic building material, Pittsburgh, Pa. becomes steel making capitol.

Front 6

edison's inventions

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light bulb, phonograph, motion pictures, pose plants, refrigeration, typewriter, kodak camera, elevator

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communications revolution

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starts with morse telegraph leads to Bell's telephone.

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car manufacturing

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ford revolutionizes car manufacturing: mass production assembly line THEN adopted by other industries.

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transportation links

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new links (roads, canals, and railroads) connected raw material, factories, and consumers.

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economies of scale

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national producers could make and sell goods more cheaply than local producers. (department stores, mail orders, and chain stores)

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infrastructure

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was government aided (includes transportation and communication network) gov. also gave land grants to the railroad companies.

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growth of the corporation

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fueled by a need to raise capital to expand factories, was a way to structure business.

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corporation

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business owned by many investors (which raises capitol by selling stock to shareholders)

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advantages of a corporation

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limited liability for shareholders- investors are not responsible for corporations' debts; can sell stock to raise capitol for expansion and development

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disadvantages of a corporation

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workplace much bigger and more impersonal, work more boring.

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government policy of laissez-faire

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"hands off" policy towards the economy (except for protective tariffs, land grants, and patent system). also was anti-union (especially during strikes)

Front 17

WHAT were the results of industrialization?

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rise of big business- (steel, oil, and finance become big businesses). corporations join together and try to drive competitors out of business, when one corporation eliminates all others becomes a monopoly/ trust

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examples of monopoly/trusts

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1.vanderbilt (railroads): use of rebates, rate wars, pools. 2. Carnegie (steel) use of vertical integration. 3. Rockefeller (oil refining) founded Standard oil and limited competition

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how Rockefeller formed his monopoly

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cut prices, improved oil quality, pressured customers not to buy from competitors, secret agreement and rebates w/ railroads. FORMED A TRUST THEN MONOPOLY and broken up in 1911

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social darwinism

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used to defend big businesses

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natural selection

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an expansion on Darwins theories to society, this expansion included survival of the fittest.

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the key argument to natural selection

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nature works by survival of the fittest and so does society; those who have survived did so by natural processes- "unnatural to change that through philanthropy." success/fails usually dependent on traits (few made this argument)

Front 23

another argument is laissez faire

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those who are fit and wealthy should rule.

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Horatio Alger stories

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hard work and good fortune would bring success.

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captions of industry

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helped develop the modern U.S economy and lower prices for consumers.

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robber barons

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used ruthless business tactics to put competitors out of business and paid low wages to exploit the labor of workers.

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most industrialists dedicated their later years to

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philanthropy- the giving back to/ using of wealth for the good of society.

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factory workers faced harsh conditions

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some workers advocated that this was because of unequal distribution of wealth.

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alienation in companies

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was created due to a larger workforce with a less personal interaction between the employee and employer.

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harsh and unsafe working conditions

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consisted of low wages and long work days/weeks.no medical benefits. ex)until ladies garment workers union was a general strike, and the triangle shirtwaist factory killed many women trapped in an unsafe work place.

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child labor

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was very common due to low wages for all- another ex of VERY harsh conditions especially for young children

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job security

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you could be fired at ANY time (ex of hard work conditions)

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unions formed

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laborers who came together to protect and promote their interests (through strike and a common voice.)

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collective bargaining

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worker representatives negotiate with management representatives for a contract with all workers. (COMMON VOICE)

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strikes

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workers refused to work.

Front 36

early labor unions were often met with

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resistance and violence

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sherman antitrust act

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made it illegal for corporations to gain control of industries by forming trusts. prevents restraints on trade.

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geography

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often determined which towns succeeded- cities on transportation lines benefited

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cities grew up and out

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bessemer process steel and elevators lead to skyscrapers. bridges, cable cars, and subways lead to the expansion of cities.

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few city services

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this lead to crime, pollution, disease, sewage, fires, etc.

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corruption

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using your business position for personal gain (illegal)- lots of it in city gov.

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teddy roosevelt

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restrained good trusts and got rid of bad trusts through regulations.

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leading labor union

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american federation of labor- founded by samuel gomper. workers joined together to protect and promote their interests- greatest threat is strike.

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samuel gomper

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founded the american federation of labor. moderate. works on "bread and butter issues".

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pure food and drug act

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had to put accurate labels on food and drugs so people would actually know what was inside the bottle (before this law people were often scammed)

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pendelton civil service act

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people are required to take exams to get some jobs (spoils system/patronage- hired friends and supporters)

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direct primary

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voters choose candidates to run for for office.

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initiative

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allows voters to propose a law directly

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referendum

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the proposed law was given to voters.

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recall

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people can vote an official out of office.

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16th amendment

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gave congress the power to create income taxes.

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17th amendment

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provides for the direct election of senators.

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19th amendment

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gave women full voting rights.

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clayton antitrust act

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rules for businesses that were meant to reduce the lessoning of competition. as a result of the need for division of monopolies.

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meat inspection act

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created a government meat inspection program

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federal reserve act

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created a modern banking system- banks gave the gov. the right to control money through interest rates.

Front 57

child labor act

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tried to limit the age that children can work. gov. ruled it unconstitutional.

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18th amendment

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prohibited the sale and manufacturing of alcohol.

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preserved public lands

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t roosevelt saves over 200 million acres of national parks, monuments, forests and wildlife refuges. and made u.s. forest service and national park service.