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UNIT 6: BIG BUSINESS ((ULYSSES S.GRANT
(1869-1877 ) (RUTHERFORD B.HAYES
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UNIT 6: BIG BUSINESS
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Munn vs. Illinois:The court decided that states had the right to regulate commerce within their states (particularly railroad and grain elevator companies), but this decision was largely overturned 10 years later by the Wabash case.
INTERSTATE COMMERACE ACT: established the federal government's right to oversee railroad activities
-required railroads to public their rate schedules and file them with the government
SHERMAN ANTI TRUST ACT:This act banned any formations that would restrict trade, not distinguishing between bad and good trusts. The act was a hamper on worker unions, but it showed that the government was slowly moving away from laissez faire ideals.
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TERMS
POLITICAL MACHINES- organization, ran by a boss to help maintain political power and gain wealth
TAMMANY HALL, BOSS TWEED- NYC's most powerful democratic machine. Tweed was the head of Tammany Hall and responisible for the 13 million spent on the NY courthouse.
CULT OF DOMESTICITY- Believe that women belonged to the household rather than working in other places.
ATLANTA COMPROMISE :speech in 1895 that blacks had to accept segregation in the short term as they focused on economic gain to achieve political equality in the future.
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Union:
KoL-all men ended bc of haymarket square, 8 hour work day
AFL-only skilled white labor, 8 hour workday
IWW: anyone, didnt want capitalism
VAUDEVILLE- A chill place where it had entertainment and improved technology. Provoked discrimination.
CROSS OF GOLD SPEECH: A speech delivered by William Jennings Bryan at the Democratic National Convention in Chicago that occurred in 1896. Bryan supported bimetallism.
CONEY ISLAND- Place where people went after work to relax, drink, and get entertainment. It attracted women and prostitutes and caused men to waste money on alcohol.
PEOPLE
W.E.B. DUBOIS: founded NAACP and disagreed with Washington. he demanded that the "talented tenth" of the black community be given full and immediate access to the mainstream of American life.
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BOOKER T. WASHINGTON
Believed that building a strong economic base was more critical at that time than planning an uprising or fighting for equal rights. also wrote Atlanta compromise. founded Tuskegee
GOSPEL OF WEALTH- Where Carnegie talked about how the wealthy should use their money and efforts to benefit society
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RICH PEOPLE
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oil, horizontal integration
steel, vertical integration
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SOCIAL DARWINISM- theory that wealth was based on survival of the fittest. Associated Darwin's work. Wealthy used to justify differences in classes.
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POPULIST PARTY- Made of farmers, wrote Omaha platform. James B. Weaver ran as their presidential candidate in 1892.
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ROBBER BARRON:Refers to the industrialists or big business owners who gained huge profits by paying their employees extremely low wages. They also drove their competitors out of business by selling their products cheaper than it cost to produce it. Then when they controlled the market, they hiked prices high above original price.
STRIKES!!!!!!!
Homestead Strike: Iron and steel workers striked against Carnegie steel Co. to protest salary reductions. Frick hired gaurds to protect plant. Penn. militia brought to take control.
Railroad Strike:
Wage cuts caused strike, Hayes sent federal troops to restore order after workers were killed.
Pullman strike: strike by railroad workers upset by drastic wage cuts. The strike was led by socialist Eugene Debs but not supported by the American Federation of Labor. Eventually President Grover Cleveland intervened and federal troops forced an end to the strike.
Haymarket riot: Rally after striking began, police attempted to disperse crowd, bomb explosion, discredit Knights of Labor.