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Gilded Age Through Populism 1865-1899 http://img.nextag.com/image/Target-Victoria-Hagan-Gilded/1/000/005/697/977/569797748.jpg
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FORGING AN INDUSTRIAL SOCIETY
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Forging an Industrial Society From Civil War (1861) until Spanish American War (1898) America becomes an INDUSTRIAL NATION http://images.jupiterimages.com/common/detail/45/02/22850245.jpg http://www.archives.gov/education/lessons/homestead-act/images/homesteading-family.gif
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SHEER SCALE OF IT ALL!
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Industrial Employment Transcontinental Railroads Megamillionaires h ttp://cache.viewimages.com/xc/2669149.jpg?v=1&c=ViewImages&k=2&d=6E41E83E90A345BDDD8DCBCD74304702A55A1E4F32AD3138
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ROBBER BARONS AND REBELS BETWEEN CIVIL WAR AND 1900 steam and electricity replaced human muscle, iron replaced wood, and steel replaced iron machines drove steel tools oil lubricates machinery and lights homes and factories people and goods move by railroad
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Machines Change Farming Before the Civil War - it took 61 hours of labor to produce an acre of wheat By 1900 - it took 3 hours and 19 minutes to produce an acre of wheat manufactured ice enables transportation of food over long distances and the meatpacking industry is born
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Machines Change Manufacturing steam drove textile mill spindles it drove sewing machines IT CAME FROM COAL 1860- 14 million tons of coal mined 1884- 100 million tons of coal mined more coal makes more steel
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Railroads First transcontinental railroad built of blood, sweat, politics, and thievery Union Pacific and Central Pacific Railroads construction done by 3,000 Irish and 10,000 Chinese over 4 years Credit Mobilier company (scandal) gained $94 million for a job that cost $44 million RR built longer, twister routes to get subsidies from towns they went through
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Railroads 1890s most of the country’s railways mileage was concentrated in 6 huge systems Four of these were completely or partially owned by the House of JP Morgan During Civil War JP Morgan bought five thousand rifles @ $3.50 from army arsenal then sold them to a general in the field for $22.00 each. Rifles were defective and would shoot off the thumbs of soldier using them. Congressional investigation cleared Mr. Morgan http://upload.wikimedia.org/wikipedia/commons/5/59/Jpmorgan.jpg
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Shrewd, Efficient Businessmen John D. Rockefeller - Standard Oil Company secret agreements w/ RR to ship his oil with them if they gave him rebates (discounts) on their prices and he drove competitors out of business
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Shrewd, Efficient Businessmen John D. Rockefeller - Standard Oil Company Standard Oil Company was a HOLDING COMPANY - profits of $81 million a year $1,752,854,150.85 in 2006.
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Shrewd, Efficient Businessmen Andrew Carnegie - Wall Street broker - Steel plants tariffs meant no foreign competition 1880 he was producing 10,000 TONS of steel a month! making $40 million a year $835,092,665.93 in 2006.
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Shrewd, Efficient Businessmen Andrew Carnegie - Wall Street broker - Steel plants at dinner party sells his steel plant ($492,000,000) to JP Morgan JP Morgan forms the U.S. Steel Corporation combining Carnegie’s with others He sold stocks and bonds for $1,300,000,000 ($400 million more than combined worth of companies) and took a fee of $150 million how to keep that profit? Make sure Congress passes tariffs and pay some 200,000 men twelve hours a day for wages that barley kept their families alive
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STRUGGLE TO ADAPT OLD IDEALS OF PRIVATE AUTONOMY TO NEW REALITIES OF CIVILIZATION
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SWEEPING CHANGES SpiritSpirit of capitalism Spirit of the Western frontier Spirit of individualism
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mushrooming cities anti-immigrant
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social and political turmoil labor violence: Chicago and Homestead, Pa
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Small farmers squeezed by debt and foreign competition gather behind the People’s Party or the POPULIST PARTY - they attack Wall street, big bankers, and RR executives
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BITTER DISPUTES OVER MONETARY POLICY AND TARIFFS
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DEBTORS FARMERS WEST AND SOUTH LENDERS MANUFACTURERS NORTHEAST VS CORRUPTION
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PLAINS INDIANS federal gov’t subdue - large army force in the West federal gov’t control resources
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SOUTH untouched by Industrial Revolution! rural and race relations untouched
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NATIONAL SELF CONFIDENCE
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