2 - Most laborers worked on small farms Hard cash a premium...

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Most laborers worked on small farms Hard cash a premium Credit mostly used / trade and bartering common Work cycle based around the sun and seasons and weather Very little industry – little affect on environment Few people lived and worked in city but still depended on farmers to live near city to provide food. Industrial revolution changed these old standards --shift from rural towards urban— Railroad helped. Goods people and ideas traveled cross-country much faster. Made business men rethink their businesses This created beurocracy Improvements in banking and financing How did build RR? Nat’l and state government financed much of it (to repay, the government got discounts on people and goods shipped til they were paid back) Businessmen NEEDED RR and were very dependent. RR people knew this, so they used it to their advantage. Crocker Hopkins Standford and Huntington (big 4 ) in charge of building central pacific – billed 79 mil to gov. when it cost 40 mil. Norris – editor newspaper wrote The Octopus criticized the big 4 and the southern pacific railroad and how bad it treated employees. Titled the octopus because the RR was all wrapped around the area and the people in it (?). Norris traveled to Calif. To work on this project. Was a best seller Fiske , Gould, and Drew – same guys from cornering the gold market - started Erie War – bad guys v. bad guys. Erie railroad ran from ?? to ??. Did well, reasonably built and managed. During Civil war, it made a significant amount of money, because it wasn’t in war zone and connected water ports. Good funnel to get union troops supplies in the west. These 3 took gold from their goldmarket scam to buy the Erie RR and became boardmembers. Drained money from the business (ran it into ground) Cornelius Vanderbilt (commodore vanderbilt also) attention was caught by the 3 from erie war. (he had earned his fortune from steam boats around erie lake (?) ). He saw advantages of RR. He owned New york central to help out his steam boat. Erie war was
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between Vanderbilt and the 3. So he started to buy stock of Erie railroad to try and gain control of the company. The 3 didn’t like him messing with their cash cow so they watered the stock . [ watered stock came from people who fed cattle salt and water to give them water weight b4 a sale ] They inflated the stock, making hundreds of thousands of stock without telling anyone and kept selling it to Vanderbilt, and put the money in their pockets. So Vanderbilt gave money to politicians and lawmakers to try and do something about the 3 So the 3 did the same thing. Vanderbilt went to Albany to get legislators to try and get laws passed.
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2 - Most laborers worked on small farms Hard cash a premium...

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