Ch.14 Sect.1:The Expansion of Industry
Natural Resources Fuel Industrialization After Civil War, U.S. was still agricultural By the 1920s 3 major factors for boom: Little use for oil Edwin Drake Oil boom spread to… They were transforming… Gasoline…
Bessemer Steel Process Abundant deposits of coal and iron Coal production… Carbon removed from Iron… Bessemer Process… Railroads were biggest customer for steel What else used it? Brooklyn Bridge William Le Baron Jenney
Home Insurance Building
Power of Electricity Thomas Edison— Light bulb 1880 By 1890… It was inexpensive Plants could now be located wherever they wanted
Inventions Change Lifestyles Christopher Sholes Alexander Graham Bell Work and Women Clothing mass produced 1890, work week reduced
Bell
Ch.14 Sect.3: Big Business & Labor
Carnegie’s Innovations 1873 entered the steel business By 1899, Carnegie Steel Company manufactured more steel than… Management practices 1st 2nd Vertical integration— Horizontal integration—
Fewer Control More Many went with horizontal integration Merger— Monopoly— J.P. Morgan and US Steel 1901 bought… Standard Oil Company Trustees— Were trusts legal?
JP Morgan
Rockefeller and the “Robber Barons” 1870, Standard Oil processed 2-3% US oil 1880… How did he get huge profits? Rockefeller gave away over $500 million Carnegie donated 90% of his wealth! Sherman Antitrust Act—
Labor Unions Emerge Exploitation and unsafe working conditions… Steel mills 7 day workweeks! Seamstresses worked… Workers did not get… 1882 675 workers killed a week! how young were workers Sweatshops Incomes… NLU and CNLU Knights of Labor
Union Movements Diverge Samuel Gompers AFL They used strikes!, did it work? Eugene Debs Socialism, good? IWW