(17) Freedom's Boundaries..., 1890–1900(1).pptx

He slowly put his competitors out of business

Info icon This preview shows pages 28–39. Sign up to view the full content.

View Full Document Right Arrow Icon
He slowly put his competitors out of business. Eventually Carnegie’s annual income totaled some $40 million. Carnegie was a “Robber Baron” in every sense of the word. But, he eventually retired and gave away 95% of his fortune. “Philanthropist”
Image of page 28

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Wealth and Inequity in the Gilded Age “J.P. Morgan” and “J.P. Morgan and Co.” “Financier” or investment banker. Bought Carnegie Steel. Morgan consolidated the American steel industry by creating U.S. Steel in 1901 capitalized at a cost of $1.4 Billion.
Image of page 29
Wealth and Inequity in the Gilded Age As the Robber Barons and Big Business became increasingly powerful, several movements arose to counter them: Anti-Trust Movement Labor Unions Progressives (more later)
Image of page 30

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Anti-Trust Movement Sherman Anti-Trust Act “Every contract, combination in the form of trust of otherwise, or conspiracy in constraint of trade or commerce among the several states is hereby declared illegal.” This law was later used effectively to break-up Standard Oil in 1911.
Image of page 31
Labor Movement Industrialization brought about a variety of problems especially with respect to labor. Robber Barons sought greater efficiency by: Increasing working hours Lowering pay, or denying raises Skimping on safety
Image of page 32

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Labor Movements Unions faced several problems during the Gilded Age: Often unrecognized by employers Generally rejected negotiation Rejection of “Collective Bargaining” Only real alternative was to Strike Government supported employers during Strikes
Image of page 33
Labor Movements “The Homestead Strike” (1892) Carnegie Steel plant in Homestead, PA. Dangerous Working Condition Averaged 80 Hour work weeks. Struck over Wages and Work Rules.
Image of page 34

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Labor Movements Homestead Strike (Cont.) Henry Clay Frick, the plant’s manager, wanted to break the strike and decided to lock-out the workers and hire “scabs.” The Union got tipped-off and staged a “Sit-in” Frick brought in 300 “Pinkerton Guards” A gun battle broke-out; 9 Strikers, 7 Pinkerton guards were killed. Frick persuaded the governor to bring-in 8,000 National Guard troops to break the strike.
Image of page 35
Labor Movements “Triangle Shirtwaist Company Fire” (1911) In 1909-10, the International Ladies Garment Workers Union went on strike against this New York City company. It was basically a sweatshop. The issue was unsafe working conditions Piles of lint, oily rags, locked doors The shop was located in the upper floors of a ten-story building. The shop caught fire; many girls jumped to their deaths. 146 Dead
Image of page 36

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Farmer’s Movements Urban workers were down-trodden in the Gilded Age. Farmers had an even worse time. Debt increased Farm commodity prices decreased Standard of living decreased Shipping costs increased
Image of page 37
Farmer’s Movements “The Farmer’s Alliance” Started in Texas in the 1880s Eventually included some 2 million members It recognized that farmer’s had many problems: Railroad rates Low prices High storage costs
Image of page 38

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 39
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern