1. Section 2 The Second Industrial Revolution
U.S. History
Section 2
The Second Industrial Revolution

2. Time Line

3. Thomas Alva Edison

4. Thomas Alva Edison

5. Thomas Alva Edison
Phonograph

6. Thomas Alva Edison
Light Bulb

7. Thomas Alva Edison

8. Motion Picture Machine
Thomas Alva Edison
Motion Picture Machine

9. Telegraphic stock ticker
Thomas Alva Edison
Telegraphic stock ticker

10. One of the most successful inventors in United States history
Inventions include the light bulb, phonograph, motion picture camera, and telegraph ticker tape
Thomas Alva Edison

11. George Westinghouse

12. George Westinghouse

13. George Westinghouse

14. Developed an alternating current system that helped deliver electricity over long distances
Also designed the compressed air-brake that increased the safety of trains
Allowed all cars to stop at the same time
George Westinghouse

15. Telegraph

16. Telegraph

17. Telegraph Developed by Samuel Morse
Allowed for communicating over wires with electricity within minutes
Used a dot-dash code called Morse Code
Telegraph

18. Alexander Graham Bell

19. Alexander Graham Bell

20. Alexander Graham Bell

21. Alexander Graham Bell Invented the talking telegraph, or telephone
Quickly became the most favored communication device by business
Alexander Graham Bell

22. Laissez-faire

23. Laissez-faire

24. A doctrine opposing governmental interference in economic affairs beyond the minimum necessary for the maintenance of peace and property rights
Laissez-faire

25. Free enterprise

26. Free enterprise

27. Free enterprise Business is left free from government regulation
This causes business to prosper
This increases the prosperity of everyone
Free enterprise

28. Entrepreneur

29. Entrepreneur

30. Someone who organizes, manages, and assumes the risks of a business or enterprise
Entrepreneur

31. Capitalism

32. Capitalism

33. Capitalism Private business runs most industries
Competition determines how much goods cost and what workers are paid
Capitalism

34. Corporation

35. Board of Directors
Stock Holder
Corporation

36. Business raised money for their company by selling stock, which are certificates of ownership
The stock holders would receive a portion of the profits called dividends
Corporation

37. Pacific Railway Act

38. Pacific Railway Act

39. Pacific Railway Act
Gave land to the railroads to develop a railroad line linking east to the west

40. Transcontinental railroad

41. Transcontinental railroad

42. Transcontinental railroad

43. Transcontinental railroad
The first railroad that connected the east to the west
Was built from east and west simultaneously
Connected in Promontory, Utah
Transcontinental railroad

44. Cornelius Vanderbilt

45. Cornelius Vanderbilt

46. Cornelius Vanderbilt

47. Cornelius Vanderbilt Pioneer in the railroad industry
Gained control over the New York Central lines and two lines that connected the Central to New York
Extended his railroad system by purchasing smaller lines
Cornelius Vanderbilt

48. Patent

49. Patent

50. A guarantee to protect an inventors rights to make, use, or sell their invention
Patent

51. Bessemer process

52. Bessemer process

53. New method for producing steel that used a blast of air to burn off impurities
Was able to produce as much steel in one day as in a week the old way
Bessemer process

54. Andrew Carnegie

55. Andrew Carnegie

56. Andrew Carnegie

57. Andrew Carnegie

58. Andrew Carnegie Made $1.20 per week in his first job
Quickly raised through the ranks into management
Entered the steel business
Became one of the richest people in the world
Later began donating much to charity
Andrew Carnegie

59. Vertical integration

60. Vertical integration

61. Vertical integration Owning companies that helped each other out
Allowed one owner to hold control of production from “cradle to grave”
Controlled prices at each stage of production
Vertical integration

62. John D. Rockefeller

63. John D. Rockefeller

64. John D. Rockefeller Founder of Standard Oil
Grew his business from a small company to one of the largest in the United States
John D. Rockefeller

65. Horizontal integration

66. Horizontal integration

67. Horizontal integration
Buys businesses that are in direct competition with you
Once you own most of the companies, you can drop the price and run everyone else out of business
Horizontal integration

68. Monopoly

69. Monopoly

70. Monopoly When there is little to no competition for a company
Holds complete control over the price and quality of goods
Monopoly

71. Trust

72. Trust

73. A group of independent companies that turn the control of their stocks to a common board of trustees
Trustees run the trust as a single enterprise
Limited overproduction of goods and reduced competition
Trust

74. JP Morgan

75. JP Morgan

76. An American financier, banker, philanthropist, and art collector who dominated corporate finance and industrial consolidation
He and his partners had financial investments in many large corporations and were accused by critics of controlling the nation's high finance
JP Morgan

77. Labor unions

78. An organization of common laborers and craft workers in a particular industry
Businesses often tried to prevent workers from forming unions
Labor unions

79. Knights of Labor

80. Knights of Labor

81. Founded by 9 garment workers and led by Uriah Stephens
One of the most successful of the early labor unions
Knights of Labor

82. Haymarket Riots

83. Haymarket Riots

84. Supporters of an 8-hour workday called for a nationwide strike in Chicago
The police intervened in a picket line and opened fire on the protesters
On May 4, 1886, about 3,000 people gathered to protest the shootings
Someone threw a bomb and rioting began
10 policemen were killed and 170 people were injured
Haymarket Riots

85. The Homestead Strike

86. The Homestead Strike

87. The Homestead Strike Workers were angered by a proposed 20% pay cut
When management attempted to replace the striking workers, fighting broke out
The clash lasted 14 hours, resulting in several deaths and injuries
The Homestead Strike

88. George Pullman

89. George Pullman

90. Designed and manufactured railroad cars that made traveling long distances more comfortable
Built sleeping cars, dining cars, and luxurious cars
George Pullman

91. The Pullman Strike and Boycott

92. The Pullman Strike and Boycott

93. The Pullman Strike and Boycott
The Pullman Palace Car Company slashed worker wages without lowering prices for customers
American Railway Union (ARU) workers refused to handle Pullman cars
A federal court issued an injunction, preventing the workers from continuing their boycott
The Pullman Strike and Boycott

94. American Federation of Labor

95. American Federation of Labor

96. American Federation of Labor
A labor union that organized skilled workers
Organized independent craft unions to advance the interests of skilled labors
Samuel Gompers was the first president of the AFL
American Federation of Labor

97. Questions?