Baltimore Polytechnic Institute February 4, 2014 A/A.P. U.S. History Mr. Green

Students will analyze to what extent inflation was a panacea for the farmer by describing the impact of high crop prices for the farmer.

Objectives: Explain how the transcontinental railroad network provided the basis for an integrated national market and the great post–Civil War industrial transformation. Identify the abuses in the railroad industry and discuss how these led to the first efforts at industrial regulation by the federal government. Describe how the economy came to be dominated by giant trusts, such as those headed by Carnegie and Rockefeller in the steel and oil industries, and the growing class conflict it precipitated. Describe how new technological inventions fueled new industries and why American manufacturers increasingly turned toward the mass production of standardized goods. AP Focus Enormous immigration, mass production, and the presence of low- skill jobs drive down workers’ wages. A catalyst for postwar industrial and economic expansion is the railroad industry, which not only facilitates trade, commerce, and transportation, but also makes locomotive production a major industry. The government plays a major role in the industry’s development and importance by providing the companies with millions of acres of free land—a giveaway, some say.

CHAPTER THEMES America accomplished heavy industrialization in the post–Civil War era. Spurred by the transcontinental rail network, business grew and consolidated into giant corporate trusts, as epitomized by the oil and steel industries. Industrialization radically transformed the practices of labor and the condition of the American working people. But despite frequent industrial strife and the efforts of various reformers and unions, workers failed to develop effective labor organizations to match the corporate forms of business.

1880s Decade Chart due Friday 1884, 1888, 1892, 1896 Election Charts due Friday 5QQ on Wednesday

1. What is inflation? 2. How does inflation impact the economy? Be specific for the different groups of people. 3. How would inflation help the farmer?

If you make $1000 a month and your house payment (mortgage) is $650 a month, what percentage of your income is going toward your housing. If your food bill is $200 a month and prices go up 5%, what is your new food bill for the next month?

The Farmers Demand Cheap Money The Plight of the Farmer

Would farmers be better or worse off if the amount of money in circulation was increased? Explain

 Begin Reading first ½ of Chapter 25  Prepare for 5QQ on Thursday .