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June 24 Notes - History 2112 Dr Hild Big business and...

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History 2112 Dr. Hild June 24, 2009 Big business and Organized Labor Early 20 th century Technologies and Transportation Before 19 th century – impossible Transportation Steamships 1807 Widely used 1830’s – 1840’s Cheaper, quicker Canals 1820s-1830s Erie Canal 1825 Atlantic Ocean to Great Lakes Trains/Railroads 1828 1 st Steam Locomotive by 1890 every major city had train tracks National Transportation Route and International transport Communication Technologies Snail mail originally Telegraph Samuel Morse 1844 Telegraph cable 1861 but eroded by salt water from ocean After CW rebuilt telegraph lines 1876 Bell patented telephone essential to business After CW business moved from “mom and pop” to big business General Stores popular 1840s commercial banks loaned money to start business Specialized insurance company Large companies make safe Freight Carriers RRs, steamships charged commercial rates and passenger rates Specialized merchants One line of goods Drugs, cotton, pre-made clothing Railroads 1850-1940 #1 Industry in the US Chain of command began – complex, large, company organization Board of Directors, CEO, sell stocks nationally and internationally Accountants/bookkeepers more intense, complex, sophisticated Guidelines for how corporations are run began with RRs Laissez Faire capitalism – government out, people in “company should build itself” Received 131 million acre land at no cost and $64 million gift (loan) No government regulations – do business how they see fit
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Cutthroat practices – underhandedness – rebates under the table Rates depend on starting and ending cities
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