the industrial society, 1850-1901. industrial development entrepreneur: us offered ideal conditions...
TRANSCRIPT
Chapter 18 The Industrial Society,
1850-1901
Industrial Development Entrepreneur:
US offered ideal conditions for rapid industrial growth.
Abundance of cheap natural resources, l Large pools of labor Largest domestic market in the WORLD Capital & government support w/o government
regulation
Factors that helped build an Industrial Economy Labor supply from Europe & American
FARMS Inventions National market Plentiful $$$ Favorable government policies Entrepreneurs
Railroad Empire Positives of the RR
1865-1916 laid down over 200,000 miles of track
Saved the federal government 1 billion $$$ X 1850-1945
Greater speed & safety Urban life to the country RR companies were huge
consumers AND employers
Building of Trunk lines Transcontinental RR 1862
-Central & Union Pacific
Negatives of the RR Monopolies Fraud & waste
connected Intense competition Panic of 1893
Empire Builders & Inventions Cornelius Vanderbilt - railroads Andrew Carnegie – Steel J.P. Morgan – Banking then United States
Steel John D. Rockefeller – Oil – Standard Oil
Company & Standard Oil Trust
Thomas Edison – telegraph, camera, processed foods, telephone, phonograph, electricity.
Bessemer Process…..
Cornelius Vanderbilt, J.P. Morgan, Andrew Carnegie, John D. Rockefeller
Selling a Product to Wage Earners Marketing became a tool to sell a product.
Advertising was common Department stores Brand names Mail order catalogs
Wage Earners built the new factory society which included men, women, & children Skilled & unskilled but skilled white males received
a greater share of the prosperity.
Culture of work The hope of upward mobility was the goal for
all factory workers. Work difficult, long hours, little pay, worked
w/ machines and by hand. Punch the clock
Labor unrest & birth of Labor Unions American Federation of Labor (AFL) still exists.
Pushed for better wages & safer working conditions and did resort to violence to achieve it.
Knights of Labor founded by Samuel Gompers Opposed use of work strikes
Only skilled workers were members. Women & Blacks not allowed.
Employers applied strict laws to increase supply of product. Lead to more strikes.
REMEMBER the HAYMARKET RIOT!