Industry Comes of Age - 1865 1900 s1

Industry Comes of Age - 1865 – 1900

 Building an Empire of Rails o At the end of the Civil War the U.S. had ______miles of railroad east of the Mississippi River. Mostly localized and built to protect local commerce. o By 1900 there were ______miles of track in the country – more than all of Europe combined. o Much of the new construction was ____ of the Mississippi. o The ___ showed the value of long distance transportation and ended the debate between North and South over construction.  1862 - Congress passes the Pacific Railway Act - authorizing the construction of the first ______railway. The ______will build west from Omaha, Nebraska and the ______will build east from Sacramento, California. o Construction begins in 1863 - meet at Promontory Point, Utah, May 10, 1869. Golden spike is hammered by company presidents. o the Federal government citing ______and postal needs funds the railroads through ______and subsidies. o Land is granted to Railroads at ______either side of rail in alternate sections (640 acres) - 155,000,000 acres given to railroads. o Millions of dollars received in _____ from federal and state govt. o Funding gives rise to ______Scandal. o Leland ______and Colis Huntington, Charles Crocker, and Mark Hopkins the "______" that built the Central Pacific railroad were never shown to be involved in scandal. o Union Pacific line built by many _____ immigrants o Central Pacific Line built by many ______immigrants.  Four other Transcontinental Railroads built in 1800's. o ______- Duluth, MN to Tacoma, WA - 1883 o Atchison, Topeka and Santa Fe = Kansas - San Francisco - 1884 o ______- New Orleans to Los Angeles - 1884 o ______- Duluth to Seattle - 1893 - James J. Hill - best  New Technologies Increase the Efficiency of Railroads o ______steel rails - safer and more economical - Cornelius ______replaces New York Central's iron rails. o Standard gauge of 4' 8½" rail increases efficiency o ______and couplers increased safety o ______cars increased profits o ______cars made traveling more comfortable o ______, double tracking, block signals and switches increase safety. o Adapting to problems with passengers having to change their clocks some 20 times in making a transcontinental trip. o The General Time Convention was created in 1883, creating four standard ______. o Mandated by the federal Standard Time Act of 1918  Enormous Profits leads to corruption and greed. o Financiers, such as ______, used Stock Watering and other shady financial practices to inflate the value of stock to cheat out greater profits. o Rate wars and control of routes - led to charging more for shorter routes, offering of ______to big shippers, and the use of rebates = secret reductions for certain customers. o Inability of competitors to cooperate and being straddled with huge debts led to the formation of _____ - agreements to share profits in areas. o Many railroads collapsed in the ______- led to takeover by bankers - J.P. ______and a few others took over the railroad industry and eliminated "wasteful competition" o Some state legislatures, under pressure from farm groups such as the ______, began to try to regulate the railroad monopolies. o 1886 - In ______v. ______the Supreme Court decides that a state has no power to control interstate commerce within its own borders. o 1887 - Congress passes the ______Act -  The Interstate Commerce Act o it prohibits rebates and pools and forces railroads to publish all rates. It creates the five-man ______o It does not act to give strong government control over business, but does set a precedent of government ______.  Post - War Industrialization o At the start of the Civil War the United States lagged behind the European industrial nations Germany, France, Great Britain. o By the turn of the century it had vaulted into the ____, with a manufacturing output that exceeded the combined output of its three European rivals.  Reasons for expansion: 1. Abundant natural ______- coal, oil, iron, timber, water power. 2. ______supported transportation network. 3. Abundant source of ______- native and immigrant. 4. Massive ______= largest free-trade market in the world. 5. Government ______and the use of power to protect business through ______but not to regulate, encouraged foreign and domestic investors. 6. ______progress and invention.  Rise of the Industrialists o The entrepreneurial tycoons -believed in ______Darwinism of Herbert ______. Were they o Robber Barons ? or Captains of Industry? 1. Andrew Carnegie - (1835 - 1919) o used money made in selling railroad bonds to build Bessemer process _____ plant in Pittsburgh in 1872. o 1878 - won steel contract for ______Bridge o 1880's converted the ______Steel plant to making steel beams for "______" skyscrapers. o making $40 million a year by 1900 - largest industrial company in the world. o employed ______integration to improve efficiency = controlling all the stages of development. o 1901 - sold the company to J.P. ______for $460,000,000 o Carnegie believed in "The ______of ______" that his wealth was given to him in "trust" and that through his superior administrative abilities he should wisely give back to the community and "help those who would help themselves" o gave away $350 million before his death to ______and other philanthropic endeavors. 2. J. Pierpont Morgan - (1837 - 1913) o born into wealthy ______family o involved in government ______during Civil War o 1880's involved in financing ______. o 1880 -1900 bought out and reorganized failing railroads. o 1895 - formed a syndicate to bail out the U.S. Treasury during Gold depletion crisis after "Crash of 1893" o created "______" out of failed companies in the '90s. o 1901 - bought Carnegie Steel and enlarged his steel holdings to create ______- the first billion-dollar corporation. o Morgan had controlling interests in railroads, marine operations, steel, International Harvester, General Electric, American Telephone and Telegraph - o 72 different directorships. 3. John D. Rockefeller - (1839 - 1937) o 1859 - Edwin _____ drills oil well near Titusville, Pennsylvania. Called "Drakes Folly" - o uses soon found for petroleum. o 1862 - Rockefeller sent by a group of investors to investigate the uses of oil found in Ohio. He reports back "no use" and invests heavily. o 1863 - at age 24 - begins oil business at Cleveland, Ohio. o 1870 - incorporates the ______Company of Ohio. o Standard Oil used ______integration to be more efficient. o Began the process of ______Integration to destroy or control all competition. o 1877 - Standard Oil controls ______of the country's oil refining capacity. o 1882 - created the Standard Oil _____ - nine trustees given power "to hold, control and manage" all of Standard Oils vast holdings. o Led to trusts by tobacco, sugar, whiskey, lead etc. and led to movement of "______" and anti-trust legislation. o 1897 - Rockefeller retires with personal fortune of $900 million - gives away $540 million by his death.  The Impact of Industrialization  The New South o The south remained mostly ______o ______plants were built to take advantage of cheap labor. o Steel production was checked by preferential rates for ______goods.  Effects of Industry o Women found new jobs as stenographers and “______” - leaving the factories. o The wealthy displayed ______- leading to class struggle.  Weakness of Labor o ______labor had little power and wages were low. o Employers had the power to break ______. o ______contracts, iron-clad oaths, ______, _____, lockouts, company stores were used. o The American people grew tired of strikes and blamed the ______.  Rise of Labor Unions.  1866 - The National Labor Union is formed. o 600,000 members both skilled and unskilled. o Called for ______reform. o Won the ______day for government workers. o Killed by the ______of the 1870’s.  1869 - The Knights of Labor o ______in one big union. o Economic and social reform without ______. o Led by Terence V. ______– they won strikes for the 8 hour day. o Bloody ______explosion in Chicago led to conviction of eight Anarchists. o Governor John ______later pardoned all survivors. o Bad feelings led to the weakening of the Knights.  The A.F of L. o The American Federation of Labor - 1886. o Founded and led by Samuel ______. o excluded ______workers. o AFL was ______and simply wanted ____ for labor. o The AFL wanted the “______” o By mostly avoiding politics and staying united the AFL grew to the largest labor organization.  Anti-Trust legislation o Federal government began moving to ______interlocking directorates, pool and trusts. o The ______Act passed in 1890. o Outlawed any organization that acted “in ______of _____.” o The law lacked teeth, but was used to attack ______.