Used in the civil rights movement for equal rights b

This preview shows page 2 - 4 out of 41 pages.

Single most important act of the Reconstruction era. Used in the civil rights movement for equal rights B. Military Reconstruction, early 1867 o Divided the south into 5 military districts o New process for admitting states to the union. States had to ratify the 14th amendment. o Profound challenge to white elite power C. 15th Amendment o Passed congress Feb 1869 o Cant deprive any citizen of the right to vote b/c of “race, color, or previous condition of servitude.” o Extended the vote to northern black D. Congressional Moderation o Trend toward moderation o Ulysses S. Grant elected 1868 (1/23) Industrialization How and why did big business become so prominent in this period? Railroads and the rise of big business o Corporations begin to emerge- stock holders (investment, raise a large amount of capital)(only reliable for the amount of money they invest) o Corporations allow for railroads to be made o Pioneers of big business. o Large capitalization and new management techniques o Railroads competed each other, lowered their rates to increase customer base. Intense competition led to instability because they could not make profit (tickets were too cheap to sustain business) o 1870s: pools- informal agreements between railroads where they agreed on certain rates or to run in only certain areas
“Robber Barons” o Standard oil- first trust 1881. Trusts were legally biding. Companies turned over a portion of its stock and a “board of trustees” would make the decisions o Rockefeller: ruthless business man (used spies, bribed congress men). Defeated/ eliminated all his competition. Used the best technology o Saw competition as wasteful, could be putting this time into the product o Standard oil- controlled 80% of US oil refining o Trust movement: whiskey, lead, sugar o To public the word monopoly became synonymous with the word Trust. Antitrust o Holding companies 1890s: a company that holds the stock of other companies. Significance of big business o Robber Barons highlighted the gap between poor and rich. o Changed the way US did business o Increased attention to growing gap between rich and poor o Big cause of corruption Mark Twain, “The Gilded Age” Regulation of the Railroads o Grange Laws 1869-1874, efforts of western farmers The Grange- 1867 Long- haul and short- haul rates: it was cheaper sometimes to ship your grain to a shorter distance than a longer distance, because there were fewer lines running to smaller and closer cities than further away Railroads were giving rebates to large business, to keep their business and not giving them to farmers 1873 depression Farmers wanted to eliminate middle man, and established buying and selling cooperatives Munn vs. Illinois 1877: established maximum rates the railroads could charge Wabash et al vs. Illinois 1886- overturned regulations of prices, because since railroads cross state lines a state can not name price ICC: Interstate Commerce Commission o Anger over Wabash case o “nothing but feed and fight”- cartoon o

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture