** Capitalist Revolution

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Presentation transcript:

** Capitalist Revolution “2nd Industrial Revolution” & “The Gilded Age” 1860s 1870 1890 1900 ** Capitalist Revolution Important things to understand about this era in U.S. History: ** Time of Individualism 1862 - Legislation developing the West: Homestead Act, Land Grant Act, Pacific Railway Act 1870’s and 1880’s - Settling the Plains 1860’s and 1870’s - “Rise of Big Business” – Vanderbilt, Carnegie, Morgan, Rockefeller, etc. 1870’s to 1890’s - American Politics / an Age of Corruption & the Political Urban Machine

** Capitalism Vs. ** Democracy Handout Questions - What is capitalism? - Capitalism and Inequality? - “Dueling manifestos” paragraph: How are capitalism and democracy antagonistic? - Harness “armies of men and women” paragraph: Why did they hate “Morgan and his ilk?”

Important Concepts - Capitalism … - Entrepreneurs … - An economic system in which private individuals … - Entrepreneurs … - People who risk … - Laissez-faire policies … - French phrase, “Let people do as they choose” …

Homestead Act (1862) - Free land - Federal government land for settling the Plains - Legislation passed during the Civil War which led to the rapid settling of the Great Plains as individuals had to pay a $10 registration fee to file a claim for 160 acres. - After improving the land for five years, they received the legal title.

Great Plains “Great American Desert” … Challenges to settling on the Great Plains …

- Morrill Land Grant College Act of 1862 Free land - Federal government land to states for establishing colleges.

* What do you suppose was the impact of this legislation? * The purpose of the land-grant colleges was: “… without excluding other scientific and classical studies and including military tactic, to teach such branches of learning as are related to agriculture and the mechanic arts, in such manner as the legislatures of the States may respectively prescribe, in order to promote the liberal and practical education of the industrial classes in the several pursuits and professions in life.” - Auburn Univ. - Univ. of South Dakota - Univ. of California - South Dakota State - Colorado State Univ. - Univ. of Connecticut - North Dakota State - Univ. of Delaware - Univ. of Georgia - Univ. of Florida - Univ. of Idaho - Univ. of Illinois - Purdue University - Kansas State Univ. - Iowa State Univ. - Univ. of Wisconsin - Louisiana State Uni. - Univ. of Maryland - Univ. of Minnesota - Ohio State Univ. - Univ. of Nebraska **** And many, many, many more colleges!!!

Settling the West – Railroads Pacific Railway Act of 1862 Free land – Federal government land to companies for every mile of track built. Land Grants Competition between the Union Pacific and Central Pacific encouraged

Transcontinental Railroad (1869) ** Completed in 1869 at Promontory Summit, Utah. ** Reduced travel time from 6 months to 6 days