American Industrialization American Industrialization (The Bad)(The Bad)

Monopolies and Work Conditions Monopolies and Work Conditions United States HistoryUnited States History

Mr. ChrestensenMr. Chrestensen

Analyze the cartoon:Analyze the cartoon:

The men’s shirts in back read “trusts”. Cartoon name, Bosses of the Senate

Industrial giantsIndustrial giants Andrew CarnegieAndrew Carnegie Poor immigrant Poor immigrant

from Scotlandfrom Scotland Built steel plant in Built steel plant in

PennsylvaniaPennsylvania Used the Bessemer Used the Bessemer

processprocess Vertical integrationVertical integration

Industrial GiantsIndustrial Giants John D. RockefellerJohn D. Rockefeller Ultimately, controlled Ultimately, controlled

90% of the oil 90% of the oil industryindustry

Standard Oil Co.Standard Oil Co. ““If you can’t beat If you can’t beat

‘em, join ‘em!”‘em, join ‘em!” HorizontalHorizontal via via trust trust

agreementsagreements Not legal Not legal mergersmergers

Industrial GiantsIndustrial Giants JP MorganJP Morgan ““House of Morgan”House of Morgan” Dominates the Dominates the

banking industrybanking industry Stocks and loansStocks and loans Cornelius VanderbiltCornelius Vanderbilt Swept up the RR Swept up the RR

industryindustry

Why the “Gilded Age”?Why the “Gilded Age”? --””Because the open display of wealth Because the open display of wealth

among American elite seemed like a among American elite seemed like a cheap picture frame- golden on the cheap picture frame- golden on the outside, but rotting on the inside.”outside, but rotting on the inside.”

-Mark Twain-Mark Twain Discussion: What would you do if you Discussion: What would you do if you

had enormous wealth?had enormous wealth? Carnegie’s Gospel of WealthCarnegie’s Gospel of Wealth :sign of :sign of

divine approval, yet, must be a divine approval, yet, must be a “trustee for his poorer brethren”.“trustee for his poorer brethren”.

Social DarwinismSocial Darwinism

Philosophers came Philosophers came up with this from up with this from Charles Darwin’s Charles Darwin’s theory of theory of “natural “natural selection”selection”

Economists use to Economists use to justify justify laissez fairelaissez faire

4000 new 4000 new millionaires, others millionaires, others lazy or weak!lazy or weak!

Fewer control moreFewer control more

Buying out competitors: Buying out competitors: monopolymonopoly Combining competing company’s Combining competing company’s

into huge businesses: into huge businesses: truststrusts Decisions in the hand of “trustees”Decisions in the hand of “trustees” Many used ruthless tacticsMany used ruthless tactics manipulationmanipulation Many paid low wagesMany paid low wages Anything to make a buck!Anything to make a buck!

Who were the “Who were the “Robber BaronsRobber Barons”?”?

The Sherman Antitrust ActThe Sherman Antitrust Act 18901890 Made it Made it illegal to form a trust that illegal to form a trust that

interfered with free tradeinterfered with free trade Difficult to prosecuteDifficult to prosecute

Corruption in business and Corruption in business and governmentgovernment

Hippocampus lessonHippocampus lesson

How most people livedHow most people lived

The middle class slowly grew, but The middle class slowly grew, but most Americans poormost Americans poor

1% (wealthy), had more wealth than 1% (wealthy), had more wealth than other 99% (poor) combined!other 99% (poor) combined!

Candlepower, no plumbing, wood Candlepower, no plumbing, wood stoves, crammed stoves, crammed tenement housingtenement housing

Tenement housing, NYCTenement housing, NYC

NYC: A modern city full of pluses NYC: A modern city full of pluses and minuses…and minuses…

The Story of Us DVDThe Story of Us DVDDVD: “Cities” Skyscrapers (19-24)

How most people workedHow most people worked

“Breaker Boys” and “Mill Kids”: Child Labor

How most people workedHow most people worked

A factory and a steel mill.

The rights of laborersThe rights of laborers

Hippocampus linkHippocampus link

Positives and Negatives of Big Positives and Negatives of Big BusinessBusiness

Big Business