Us.1.Triumph Of American Industry

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  • 1. As business in America began to grow, American entrepreneurs maximized their profits by monopolizing industries and denying their employees sufficient pay and benefits… mac, leslie, mir, sarah, ashley
  • 2. part 1 Disagreements between builders and backers led to start of transcontinental railroad.
    • Central Pacific:
    • East from Sacrament0- 1863
    • $200,000 bribes
    • 9 million acres, 24 mil. In bonds
    • $36 mil.- cost of railroad
    • 79 mil.- paid to construction companies
    • Leland Stanford
    • Union Pacific:
    • Nebraska to West
    • created by Credit Mobilier
    • 12 mil. acres of land
    • 27 mil. government bonds
    • 44 mil. Construction- 94 mil. paid to Credit Mobilier
  • 3. marked completion of the transcontinental railroad. north of salt lake city, Utah two gold to silver spikes May 10, 1869 where the central pacific and union pacific tracks met. Leland Stanford- hammered spikes into ground missed on the first swing.
  • 4. part 2
    • Inventions and Inventors:
    • Thomas Edison
    • - Light bulb- 1880
    • - first electrical power plant in NY
    • -invented lamp to light rooms
    • Telegraph
    • 1884 Samuel Morse
    • Sewing Machine
    • 1864 Elias Howe
    • Safety Elevator
    • - Elisha Elevator 1852
    • Steam Boiler Furnace
    • Granville Woods
    Natural Recourses- Edwin Drake- oil Growing Workforce- ¾ of a million immigrants came to U.S. Government Policies- tariffs, laissez- faire Technology and Transportation- railroads, time zones, automobiles with gas engines, airplanes Manufacturing- mass production Industry- iron and steel
  • 5. expanding markets= expanding business
    • completion of transcontinental railroad- more opportunity for business
    • improved transportation and communication
    • formation of corporations
    • Many people shared ownership of business
    • capital (invested money) allowed funding for new technology
    • business methods
    • Cut costs- minimum for raw materials
    • lowest possible wages for employees
    • increase in advertising
    • Trusts- shareholders were convinced to let business be run by a board of trustees from bigger company- created monopoly
    • Monopolies
    • -- control over entire industries
    • -- horizontal integration
    • --- corporation is merged or taken by another in same industry
    • --- conglomerates- two businesses merging to form multi- industry company
    • --- monopolies?
  • 6.
    • John D. Rockefeller : the richest person in history .
    • The first American billionaire
    • Started Standard Oil of Ohio
    • Bought out companies and built the Standard Oil Trust
    Horizontal Integration: Andrew Carnegie made a fortune by selling Carnegie Steel Co., which by the 1890’s was the largest enterprise in the whole world, to J.P. Morgan in 1901. Federal Steel Co., Carnegie Steel Co. and several other smaller steel manufacturers were merged into U.S. Steel, which is now the world’s tenth largest steel manufacturer.
  • 7.
    • Immigrants Increased Workforce
    • decreased wages
    • long hours
    • poor working conditions
    • Labor Unions Form
    • collective bargaining tried 1820’s
    • first national union formed- 1834
    • knights of labor formed- 1869
    • United They Strike
    • first major strike in railroad history- 1877
    • Haymarket square
    • Pullman railroad car company strike- 1894
  • 8. Founded: 1885 by Samuel Gompers President for almost 40 years Craft Union of 100 Local Listings Originally called: FEDERATION OF ORGANIZED TRADES AND LABOR UNIONS
    • Main goal:
    • Improve wages, hours, and working conditions
    • Set up fund to help workers in need
    • Main Strategy:
    • Establish workplace where only union members worked
    • Negotiate business contracts
    • Resort strikes only in dire emergency
  • 9. Largest and most powerful labor union in America during last half of the 19 th century Represented all workers in all industries Approx 750,000 members at its largest Participates in famous strikes such as The Great Railroad Strike of 1877 Uriah Stevens: founder and Master Workman (president) 1890: Social and political differences caused the end of the Knights of labor; eventually merged with AFL
  • 10. golden spike ceremony.&quot; American History . 2009. ABC-CLIO. 12 May 2009 <http://www.americanhistory.abc-clio.com>. golden spike ceremony.&quot; American History . 2009. ABC-CLIO. 12 May 2009 <http://www.americanhistory.abc-clio.com>. &quot;golden spike ceremony.&quot; American History . 2009. ABC-CLIO. 12 May 2009 <http://www.americanhistory.abc-clio.com>. &quot;golden spike ceremony.&quot; American History . 2009. ABC-CLIO. 12 May 2009 <http://www.americanhistory.abc-clio.com>.
    • “ golden spike ceremony.” American History . 200p. ABC-CLIO. 10 May 2009 <http://www.americanhistory.abc-clio.com>.
    • “ Age of Railroads (Overview). “ American History . 2009. ABC-CLIO. 10 May 2009 <http://www.americanhistory.abc-clio.com>.
    • “ Knights of Labor”. American History. 2009. ABC-CLIO. 11 May 2009 <http://www.americanhistory.abc-clio.com>.
    • “ Business of America, 1850-1900 (Overview). “ American History. 2009. 9 May 2009 <http://americanhistory.abc-clio.com>.
    • “ Invention, 1850-1900 (Overview). “ American History. 2009. ABC-CLIO. 8 May 2009 <http://americanhistory.abc-clio.com>.
    • &quot;Workers of the World, Unite! 1870-1914 (Overview).&quot; American History . 2009. ABC- CLIO. 10 May 2009 <http://www.americanhistory.abc-clio.com>.
    • Lapsansky-Werner, Emma J., Peter B. Levy, Randy Roberts, Alan Taylor. United States History. Boston, Massachusetts: Pearson Education, Inc, 2008.