1. Define Gilded
The Gilded Age = time between the Civil War and WWI; lots of wealth in in the US, but lots of corruption & mistreatment of workers & immigrants
Millionaires
Industrial Growth
Poor Working Conditions
Child Labor
Low Wages
Unsanitary Cities
Corruption
Safety in the workplace
Lack of Social Mobility
Technology
$$$$$$$$$$
American Prosperity

2. The Rise of Big Business “Survival of the Fittest”

3. Technology and Industrial Growth
U.S. encourages industrial growth
Civil War = need more industry
Immigrants = more workers
Gov’t tariffs = imported goods too expensive!
Laissez faire: do what you want!

4. Innovation Drives the Nation
Thomas Edison:
CREATIVE GENIUS!
Lightbulb: affordable lighting for homes, extended the work day
Phonograph: early record player, able to record sound
Motion Pictures: moving pictures, evolve into entertainment

5. Railroads is Chinese and Irish immigrants built railroads
Travel is quicker = prices of goods go down = sell to market faster = need to produce more
Mass production to provide more for growing population and dense city populations
Higher cost of living
City growth: Chicago, Pittsburg, Las Vegas, Atlanta
Need for time zones to standardize arrivals / departures is

6. Capitalism: trade and industry are controlled by private owners for profit
Laissez faire: gov’t keeps their “hands off” business

7. Railroads Cornelius Vanderbilt: known informally as
"Commodore Vanderbilt” was an American business magnate and philanthropist who built his wealth in railroads and shipping
“I don't care half so much about making money as I do about making my point, and coming out ahead.”
Cornelius Vanderbilt

9. Atlanta, Ga., ca A view on the Atlanta and West Point Railroad looking towards the railroad depot, roundhouse and machine shops in Atlanta, Georgia, shortly before their destruction by Sherman's troops during the Civil War.

10. Peachtree Street -- Atlanta, GA, ca. late 1800’s

11. Oil: John D. Rockefeller:
Standard Oil
Controlled 90% of oil industry
Legacy - $900 million** Richest man in the US
“Charity is injurious unless it helps the recipient to become independent of it.” John D. Rockefeller

12. Gaining a Competitive Edge
Horizontal Integration: acquire the companies of your competitors to become a monopoly

13. Gaining a Competitive Edge
Vertical Integration: own all means of production from beginning to end

14. Trusts: separate companies controlled by a single board
Monopoly: a trust that has exclusive control over an entire industry
Captain of Industry: an innovative entrepreneur who positively influenced society
Robber Baron: person who became wealthy by unethical means
Example: U.S. Steel, one company board controls many different steel companies

15. Thielen OIL COMPANY ANOTHER OIL COMPANY BUZZ OIL COMPANY
SHS OIL COMPANY
OILY OIL COMPANY

16. “Laissez faire capitalism, or pure competition, is the end of competition itself. It is the natural goal of any business to make as much profit as it can and to eliminate its competition. When a corporation eliminates its competition it becomes what is known as a "monopoly."

17. Steel Legacy: $400 million Andrew Carnegie: US Steel
“And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department.”
Andrew Carnegie
Steel
Andrew Carnegie:
US Steel
Legacy: $400 million
gave $350 million to charity
Gospel of Wealth: book which advised people to make what they need  give the rest to the community
Est free libraries – everyone = access to education

18. Cultural Effects of Big Business: Changing American Society
Better farming machinery = less farmers
Out of work farmers head where?
Work efficiency leads to leisure time activities
Environmental concerns/dust storms: create National Park Service 1872
Wall Street(New York City), ca  Albumen print photograph. 

19. What does the government say about these robber barons?
Interstate Commerce Commission
oversee RR operations
1st regulation of US businesses
Sherman Antitrust Act
Outlaws monopolist trusts
Wants to break up dominance of Standard Oil monopoly

21. Labor Unions form as a reaction to Big Business

22. What was life like in factories?
Everyone worked!!! (men, women, children)  Child Labor
Sweatshops = 12 hours a day, 6 days a week
Company towns
Owned by business and rented out to the workers; forced to buy goods from the company store… this sounds like what???

23. Factory Horrors!! Child Labor Triangle Shirt Waist Company
Unsanitary food from the factories

24. Labor Unions = organizations formed to protect workers’ interests
American Federation of Labor (AFL)
Founded by Samuel Gompers
Organized skilled laborers
Want to:
Increase wages
Better hours
Better conditions

25. Pullman Strike Background: Railroad car company
Workers required to live in company town
Cause:
Wages cut without a decrease in the cost of living in the company town
During:
Shut down rail traffic
Stops trade in Chicago

26. Pullman Strike Effect:
Employers used the courts to limit the influence of unions
Gov’t did not support any unions and interpreted laws against them
Sherman Anti-trust Act said no monopolies because they interfere with trade
Since the strike stopped trade in Chicago, Striking Unions were considered monopolies
** Sherman Anti-Trust Act = no strikes = no unions **

27. Workers were treated like the pieces of meat that they produced
Workers were treated like the pieces of meat that they produced. This will lead to the demand for ….