1. Railroad Industry Effects Transportation
Catalyst for other industries: steel and coal
Demand for labor
Time zones
Robber barons
Development of corporate organization and finance

2. Railroad Industry Important figures “Commodore” Cornelius Vanderbilt
Jay Gould
JP Morgan
Robber barons or captains of industry?

3. Steel Industry Andrew Carnegie Bessemer Process Vertically integrated
Gospel of Wealth
Sells out to Morgan: merger creates US Steel
$1.4B market capitalization

4. Oil Industry Pennsylvania Rock Oil Company Titusville, PA 1859
Kerosene
John D. Rockefeller and Henry M. FLAGLER
Standard Oil Company/Trust
Interlocking directorates
Horizontally AND vertically integrated

5. Electricity Thomas Edison “Wizard of Menlo Park” Incandescent bulb
“one percent inspiration and ninety-nine percent perspiration”
Incandescent bulb
General Electric Company 1892
George Westinghouse
“War of Currents” AC/DC?
Nikola Tesla’s AC induction motor

6. Other innovations Business management Remington’s typewriter
Burroughs’s adding machine
Patterson’s cash register
Telecommunications
Western Union, 1855
Alexander Graham Bell’s telephone, 1876
American Telephone & Telegraph, 1899
“Ma Bell”

7. Other trusts American Tobacco Company American Sugar Refining Company
National Packing Company
Beef Trust
Swift and Armour

8. Ideologies of Industrialization
Conservative/Pro-business
Laissez-faire economics
“leave it be”
Adam Smith’s “invisible hand”
Social Darwinism
On the Origin of Species 1859
Herbert Spencer , Thomas Malthus
Gospel of Wealth
Carnegie 1889

9. Ideologies of Industrialization
Conservative/Pro-business
Horatio Alger
Ragged Dick or, Street Life in New York with the Boot Blacks, 1868
Rags to riches or rags to middle-class respectability?

10. Ideologies of Industrialization
Reformist/Critical
Progress and Poverty: An Inquiry into the Cause of Industrial Depressions and of Increase of Want with Increase of Wealth: The Remedy
Henry George, 1879
“single tax”
Looking Backward
Edward Bellamy, utopian socialism
Wealth and Commonwealth
Henry Demarest Lloyd, 1894

11. Government regulation
Interstate Commerce Act 1887
Interstate Commerce Commission
Five members, appointed by President, confirmed by Senate
“Reasonable rates”
Commerce Clause(Article I, Section 8, Clause 3)
Enumerated power but no teeth

12. Government regulation
Sherman Antitrust Act 1890
Bans “any combination in restraint of trade”
First use: injunction against striking rail workers’ union
United States v. E. C. Knight Co restricts to commerce not manufacturing

13. US Labor Movement Causes/Grievances
Mechanization and scientific management
Miserable working conditions
Public hostility to un-American behavior
Overwhelming power of capital
Internal divisions
Skilled/craft vs. unskilled
Native-born/”old stock” vs new immigrants

14. US Labor Movement Goals Higher wages Safer/better working conditions
EIGHT HOUR WORKDAY
Government regulation of railroads
Arbitration of disputes with ownership
Equal pay for women/blacks
Restriction of child labor

15. US Labor Movement Organizations National Labor Union 1866
Colored National Labor Union 1869
Knights of Labor
Uriah Stephens and Terence Powderly
American Federation of Labor (AFL)
Samuel Gompers
“bread and butter unionism”

16. US Labor Movement Milestone events Molly Maguire trials
Irish anthracite coal miners
Schuylkill County, PA
Great Railroad Strike 1877
Haymarket Affair/Bombing/Riot/Massacre Tuesday, May 4, 1886