Trains, Tycoons, Trusts, and Textiles

1
Chapter 24

• Trains, Tycoons, Trusts, and Textiles

2
Trains

• Growth 192,556 miles by 1900
• Huge profiteering through government land grants,
  inflated construction costs, and inflated
  transportation costs.
• Transcontinental RR The Union Pacific meets the
  Central Pacific _at_ Promontory Point, Utah.
  Stanford and the Golden Spike.
• Immigrant workers Chinese from the West and the
  Irish from the East.
• Crusty Cornelius Vanderbilt became a RR tycoon
  and helped popularize steel rails.

3
Trains continued

• RR helped develop the time zones.
• Westinghouse air brake, Pullman Sleeping Cars,
  Refrigerated cars changed the nations eating
  habits.
• Interstate Commerce Act of 1887 prohibited
  rebates and rate changes.

4
Tycoons and Minor Inventors

• Bell and Edison
• J.P. Morgan (Jupiter Pierpont) The bankers
  banker U.S. Steel
• Andrew Carnegie a Scot immigrant who made it
  big. Sold steel company for 400 million to J.P.
• John D. Rockefeller Standard Oils ruthless
  guru. Ida Tarbells nemisis!
• Social Darwinism Survival of the Fittest

5
Trusts

• Usable definition any large scale business
  combination for profit. Goal was to lessen
  competition and control prices.
• Vertical Integration combination all phases of
  manufacturing (mining to marketing)
• Horizontal Integration allying with competitors
  to monopolize a certain market.
• Sherman Anti-Trust Act of 1890 Congress tries to
  forbid combinations. Unfortunately, it had no
  teeth and too many loopholes.

6
Textiles

• Textile industry slowly moves south.
• Cheap non-unionized labor with less shipping.
• Southern Appalachia often rural families known
  as hillbillies or lint-heads worked in these
  factories.
• The idea of the Gibson Girl.

7
Troubles of the Industrial Age

• New machines displaced employees and
  manufacturing becomes a lever pulling ordeal.
• Unions seen as unpatriotic and socialistic
  Yellow-dog contracts, blacklists, ironclad oaths,
  company-towns.
• National Labor Union, Knights of Labor, and the
  American Federation of Labor.
• Haymarket Square Protest May Day demonstration
  turns violent. Strikers left the McCormick reaper
  factory on May3,1886.
• Bomb time 67 bystanders injured and 7 police
  officers die
• Police fire back killing 10 and wounding 50.
• 4 radicals hang for the strikes.
• 21 people die for an eight hour work day.