1. The Triumph of the Industry 1865-1914

2. Section 1: Technology and Industrial Growth

3. Terms and People
Entrepreneur – people who invest money in a product of enterprise in order to make a profit
Protective Tariff – taxes that would make imported goods cost more than those made locally
Laissez Faire – allows businesses to operate under minimal government regulation (hands-off)
Patent – is a grant by the federal government giving an inventor the exclusive right to develop, use, and sell an invention

4. Terms and People
Thomas Edison – inventor supported by wealthy industrialists like J.P. Morgan, established a research laboratory at Menlo Park, New Jersey

5. Terms and People
Bessemer Process – a process for purifying iron, resulting in strong, but lightweight, steel

6. Terms and People
Suspension Bridges – bridges in which the roadway is suspended by steel cables

7. Terms and People
Time Zones – one for each hour of the day, adopted by the railroads and still in use today
Mass Production – a system for turning out larger numbers of products quickly and inexpensively

8. America’s industrial revolution was known as the “second industrial revolution,” driven by business leaders, creative inventors and scientists

9. Encouraging Industrial Growth
One spark to this growth was the Civil War
Guns
Ammunition
Medical supplies
Uniforms
Food
Immigration was encouraged to meet demand for labor
Pushed from homelands by political and religious upheaval along with crop failures
Natural resources fueled much of this growth, coal, lumber, rivers, and oil

10. Government
The government played a key role in the industrial revolution. They gave millions of acres to the railroads, imposed tariffs to encourage “buying American,” and held a laissez-faire attitude toward business dealings.

11. Innovation Drives the Nation
Patents increased rapidly, and businessmen invested in new innovations, hoping to create new industries and expand old ones. Inventor Thomas Edison supported by J.P. Morgan gave us light, and central power plants Steel – skyscrapers, elevators, and bridges

12. Transportation
Rail travel made great leaps in the transportation of people and goods. How did railroads contribute to the growth of American cities? (pg. 105)

13. The impact of Industrialization
Industrialization allowed the U.S. to dominate world markets. (grain, steel and textiles)
The U.S. had more miles of rail track then the rest of the world combined

14. Section 2 The Rise of Big Business

15. Terms and People Corporation – type of group ownership, with shares
Monopoly – complete control of a product or service
Cartel – in this arrangement businesses with the same product agree to limit production to increase prices
John D. Rockefeller – an oil tycoon, made deals with railroads to increase profits

16. Terms and People
Horizontal integration – consolidating small companies in the same business to lower costs (read pg. 110)
Trust – companies assign their stock to a board of trustees
Andrew Carnegie – business tycoon who along with others consolidated all aspects of production to lower cost of production (read pg. 113)
Vertical integration – the term used to define the consolidation process (read pg. 111)

17. Terms and People
Social Darwinism – term coined by Graham Sumner to describe “wealth or one’s inherent value and those who had it were the most “fit”
ICC – (Interstate Commerce Commission) first federal body to monitor American business operations
Sherman Antitrust Act – outlawed any trust that operated “in restraint of trade or commerce among the several states”

18. Section 3: The Organized Labor Movement

19. Terms and People
Sweatshops – workers (mainly immigrants) worked 12 hour days, 6 days a week, in small and dirty workhouses
Company Towns – communities, owned by the business and rented out to employees

20. Terms and People
Collective Bargaining – negotiating as a group for higher wages or better working conditions
Socialism – an economic and political philosophy that favors public, instead of private, control of property and income
Knights of Labor – labor union and secret society, devoted to broad social reform, such as replacing capitalism with workers’ cooperatives (read Primary Source pg. 117)

21. Terms and People
American Federation of Labor (AFL) – founded by Samuel Gompers, this was a craft union, started with cigar makers’ and later composed of more than 100 other trade unions (Why combine groups?)
Haymarket Riot – Chicago strikers demonstration that left a legacy of violence when a protester threw a bomb killing policemen

22. Terms and People
Eugene V. Debs – the head of the American Railway Union, he believed that industrial unions allowed groups to exert united pressure on employers, he was eventually imprisioned
Pullman Strike – escalated, halting both rail and mail traffic, Rail owners cited the Sherman Antitrust Act saying the strike disrupted free trade (read pg. 120)