Chapter 24 Industry Comes of Age (Railroads/ Iron Horse (Building the…
Chapter 24 Industry Comes of Age
Railroads/ Iron Horse
Building the transcontinental railroad
brought unity to the US
Brought land together
land grants to railroad
Giving to much power to the corporations
With the railroads the cities flourished
employed many people and took in 20% of foreign inestment
Rails coming from the west and central US were brought together.
Brought the west coast closer to the union
railways become nations biggest business.
railroad kings were more in control of the people lives than the president.
government had to step in
after the war money from foreign nations are being brought into the US
individual workers were powerless against big corporations
they began to organize and fight for basic rights
go on strike and the corportations can hire strikebreakers who were thugs that beat up organizers.
The National Labor Union
Increase wages and 8-hour work day, monetary reform, and worker cooperatives. Believed in equal rights for women and African Americans. Lost support in 1873 depression and unsuccessful strikes of 1877
American Federation of Labor 1886 : Concentrated on practical economic goals such as higher wages, improved working conditions. Members were directed to walk out until the employer agreed to negotiate a new contract through collective bargaining
Gospel of Wealth
people with wealth should be responsible
capitalism=survival of the fittest
self justification of the wealthy that they were working hard and the poor weren't
Government Tackles the Trust Evil
Sherman Anti Trust Act (1890)
Congress passed this law to prohibit monopolies which had grown rapidly.
The impact of New Industrial Revolution
standard of living rose. Americans were living more comfortably
women were now working with the new inventions.
telephones and type writers "hello girls"
earned less than men
foreign trade developed
Made money off steamboat placed money on railroads.
superior railway service low rates
popularized steel rail
safer and tougher metal.
could bear heavier loads
influenced innovators to invent mass production methods.
Trust Titans emerged
Carnegie: steel king, Rockefeller: oil, JP Morgan, banking
Carnegie: improve efficiency and supplies reliable. Control the quality of the product
Steel is king