Industrial America in the Late 19 th Century. Corporate consolidation of industry Transformation of farming, mining, and ranching industries by Big Business.

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Presentation transcript:

Industrial America in the Late 19 th Century

Corporate consolidation of industry Transformation of farming, mining, and ranching industries by Big Business

Corporate consolidation of industry Carnegie Steel U.S. Steel Corporation – First Billion dollar company – Largest company in the world – Controlled 3/5’s of nation’s steel business

Corporate consolidation of industry Standard Oil Trust John D. Rockefeller – Controlled 90% of oil industry – Employed horizontal consolidation – Power of Trust and illegal rebates allowed Rockefeller to do this

Corporate consolidation of industry Cornelius and William Vanderbilt largely consolidated the railroad industries after Panic of 1893 “The public be damned”

Effects of technological development on the worker and workplace Big Business transformed labor controllers of machines Effects Output increased Wages remained stagnant due to large labor force Work to Clock

Effects of technological development on the worker and workplace Terrible Working Conditions Low Pay Heat/Cold Little Protections Child Labor Unequal Pay

Labor and Unions National Labor Union Knights of Labor American Federation of Labor Fought for better working conditions Diverse Groups with different goals

Strikes Railroad Strike 1877 Haymarket Affair Homestead Strike 1892 Pullman Strike 1894

Public Opinion Divided over labor unions However, vast majority of Americans against radicalism, anarchists, and violent strikes

National Politics and the Influence of Corporate Power Many felt that industrialists had too much power on government Middle Class and poor saw trusts as too powerful

What a Funny Little Government

Antitrust Legislation Interstate Commerce Act 1887 – Regulated railroads Sherman antitrust Act 1890 – Made trusts illegal – Only applied to commerce “A DOG WITH NO TEETH AINT GONNA HURT YOU WHEN SHE/HE BITES!” – Mr. Tessalone

Overall Impact Industrial Empires Support of Laissez-Faire Capitalism Social Darwinism Gospel of Wealth Innovations make peoples lives easier Robber Barons Need for government regulation Social Gospel People disconnected from products Terrible working conditions Strikes and Unions

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