1. Phones up! Have your notes out!
9/20

2. What do these images represent?

3. The Gilded Age
“What is the chief end of man?-- to get rich. In what way?--dishonestly if we can; honestly if we must”
~Mark Twain

4. What the heck is “gilded” anyway?

6. Industrialization Land, labor, capital Government support
Three major areas:
Transportation and communication
Electricity
Research and Development

7. Railroads! Railroads!! RAILROADS!!!
Western RRs funded by gov’t
Transcontinental RR too
How to link old Eastern lines with new Western lines?
Cornelius Vanderbilt
Left steamboating to focus on land transport
Made even more money in RRs
Steel rails to replace old iron tracks
Standard sized tracks
Corruption
Bribed politicians’
Divided business in an area and shared products

8. What’s happening in the South?
Before and after CW
Agriculture and lack of educated workforce
Cash crops like cotton and tobacco
What could go wrong focusing on one crop to make $ ?
Black Southerners
sharecroppers and workers in tobacco factories
Development in Textile industry
Bring the mills to the cotton!
Cheap labor = biggest thing going on for S textile industry
Mostly poor white laborers
“Hillbillies” came out to work in S factories
Northeast hurt Southern industry
RRs charged more for items shipping S -> N

9. Let’s pretend you and your group own a company...
What do you produce?
How could you beat your competition?
How could you limit your competition?
How could you reduce your production costs?

10. Trusts and Cartels Large scale business combination
Businesses reaching agreements to fix prices

11. Vertical Integration -Owning all steps in production
- Carnegie Steel owned the mines to dig for iron ore, the ships and railroad lines to ship the ore, and the plants to turn the ore into steel.

13. Horizontal Integration
Owning/controlling all other businesses in your field
Standard oil bought out other oil refineries and companies
“Monopoly”
Rockefeller “Let Us Prey”

15. Robber Barons or Captains of Industry?
Built fortunes at the expense of laborers
Drained the US of natural resources
-OR-
Captains of Industry
Created jobs and served US positively
Philanthropists gave to charities- founding museums and libraries

17. Get your vocabulary chart out! Vocab quiz time!