Large Corporations in America

1
Large Corporations in America

• 1865- 1910

2
Corporate Giants

• Carnegie Steel Andrew Carnegie
• Standard Oil John D Rockefeller
• Railroad Cornelius Vanderbilt

3
Monopoly Tactics

• Vertical integration the control of resources
  from the raw materials to the final product
• Horizontal integration owning companies that
  made similar products, thus eliminating any
  competition

4
Robber Barons

• Term applied to the industrialists because they
  made huge profits at the expense of the little
  guy and used tactics that were harsh and
  illegal.
• Laissez-faire our governments approach. hands
  off

5
Sherman Anti Trust Act

• Made it illegal to form a trust that interfered
  with free trade
• Gave the government limited power to regulate
  monopolies
• Supreme court through out most cases against
  corporations

6
Ida Tarbell

• Journalist who wrote about the illegal practices
  of Standard Oil, which helped bring about reform

7
Philanthropists

• Carnegie, Rockefeller, Vanderbilt
• Gave away millions of dollars for various causes
• University of Chicago (Rockefeller)
• Medical institute cured yellow fever

8
Poor working conditions

• Dangerous
• Low wages
• Gave rise to Unions
• Unions viewed the huge profits of the
  industrialists as unacceptable when the laborer
  made hardly enough to live on
• Conflict between corporations and the unions

9
Labor Unions

• Formed as a response to the actions of
  Corporations

10
Problems

• 1882 675 workers were killed or injured each
  week in job related accidents
• 6 days a week 12 hours a day
• Dirty, poor ventilated workplaces
• No vacation or sick leave
• Children worked - as young 5yrs old
• Sweat shops were the same as factories

11
Knights of Labor - union

• Uriah Stephens
• An injury to one is a concern to all
• Supported the 8 hour workday
• Equal play equal work
• 1886- 700,000 members

12
American Federation of Labor

• 1886
• Samuel Gompers
• AFL organized skilled workers
• Carpenters
• Plumbers
• Used STRIKE to force management to accept union
  demands

13
Effect of Unions

• 1890 -1915 the average wage of union trade
  workers rose from 17.50 to 2400
• Hours per week declined from 54 to 49 hours per
  week.

14
Haymarket Riot

• 1866
• Striking workers at McCormick Harvester Works in
  Chicago
• Fight between police and workers
• Six workers killed
• Protest on police brutality followed
• Bomb tossed into police line
• 7 policemen and 4 civilians killed
• Knights of Labor blamed
• Union membership declined

15
Homestead Strike

• Striking workers at Carnegie Steel Mill
• Violence erupted between security and striking
  workers
• 12 people died
• Pennsylvania National Guard had to be called in

16
Women

• Banned from other unions
• Organized International Ladies Garment Workers
  Union
• 1909 20,000 workers striked
• 1911 fire at Triangle Shirtwaist 142 women
  immigrants were killed
• Public outrage and reform resulted