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Thematic History of the Late 19th Century
INDUSTRIALISMProducing goods by machines rather than by
hand
IMMIGRATIONPeople moving into a country from another
country
URBANIZATIONThe growth of cities
INDUSTRIALISMProducing goods by machines rather than by
hand
I. AMERICA’S RESOURCES
A.Natural Resources:
B.Human Resources:
gold, silver, water, timber, coal, iron ore
work ethic, increasing population, entrepreneurship
II. ORGANIZING AMERICA’S INDUSTRY
A.Types of Businesses
1. Sole proprietorship: owned by one person
Small scale Individual control Owner bears
responsibility and liabilityFor example….
2. Partnership: owned by two or more people
Shared responsibility Increased resources Potential for
disagreements
For example….
3. Corporation: owned by shareholders who purchase stock in the company
Limited losses, limited gains
Shareholders have limited liability
Size, if too large, makes running a corporation difficult
For example….
How do
shareholders
profit from
ownership in a
corporation?
DIVIDENDA portion of earnings paid to a stock holder
Ralph owns 100 shares of Ford. If the board of directors
authorizes a dividend payment of $.30 per share, how much
will Ralph receive?
CAPITAL GAIN
Sale of stock at a higher price than
purchased
Ralph bought his shares at $10 per share; he sells them at $12 per share. How much does he
gain?
B. Financing industry
1. Capital: money used to make more money; investment
2. Bank loans
3. Bonds: loans from the public, repaid with interest
Stock – investing by owningBond – investing by loaning
C.Growing industry1. Trust: a combination of several
companies into a corporation; merger
2. Monopoly: exclusive control of the manufacture and distribution of a product
VERTICAL MONOPOLY
Control of entire manufacturing process,
from start to finish
HORIZONTAL MONOPOLY
Control of a key step in the manufacturing
process
A Gallery of American IndustrialistsCornelius Vanderbilt
1794-1877- shipping and transportation -
Philip Armour1832-1901
- grain and meatpacking -
III.AMERICA’S RESPONSE TO INDUSTRIALISM
A.Changing American life1. Increased trade, prosperity
2. Changed standard of living+ leisure time, professional sports
modernization- pollution, crime, overcrowding
3. Changing social structure Women working outside the home Child labor Greater distinction between the “haves”
and “have-nots”
The “Haves”
Biltmore Estate
The “Have-nots”
Lyndhurst
B. An Emphasis on Capitalism1. Capitalism: economic system
based on free enterprise, private property and individual investment
a. Laws of supply and demandb. Laissez-faire: government has a
“hands-off” policy concerning business
2. Social Darwinism: the theory of evolution (biological) applied to society (cultural-economic); the stronger, more successful businesses will survive—the weaker will not
C.Government Regulation of Business
1. Purpose: to protect the consumer and to encourage competition
2. Examples:
a. Interstate Commerce Act (1887) regulated railroad rates
b. Sherman Anti-Trust Act (1890) prohibited large corporations from restricting trade or commerce
D.Rise of Labor Unions
1. Purpose: to protect the worker from abuses by the management and to negotiate for better benefits
Salary, hours, working conditions, safety
2. Examples:
a. Knights of Labor (founded by Uriah Stevens): the first union; tried to organize all workers into a brotherhood
b. American Federation of Labor (Samuel Gompers) joined workers of local craft unions with people of the same skill; local unions will associate with state and national unions
OVTA
3. Actions of unions
a. Collective bargaining: the right of the union to represent workers in negotiations
b. Strike: refusal to work in order to have demand met
c. Picket: demonstration to publicize disagreements between employer and employee
d. Injunction: a court order to return to work
E. Increase in Wealth
1. Materialism: placing excessive emphasis on wealth or material possessions
2. Philanthropy: charitable giving by the wealthy
Erie Canal: http://www.lakelandschools.org/lt/NewYorkVM/canalmap.gif
Cornelius Vanderbilt: http://content.answers.com/main/content/wp/en/thumb/3/35/225px-Vanderbilt.jpg
Philip Armor: http://content.answers.com/main/content/wp/en/thumb/5/50/180px-Philip_D_Armour_in_the_1880s.jpg
J. Pierpont Morgan: http://teachpol.tcnj.edu/amer_pol_hist/fi/00000107.jpg
Andrew Carnegie: http://www.creativeenergy.org/images/andrew_carnegie.jpg
John Rockefeller: http://shots.oxo.li/hot/OXO-World/John_D_Rockefeller.jpg
Charles Pillsbury: http://www.kipnotes.com/pillsbury.jpg
“After the feast”: http://www.pbs.org/wnet/historyofus/teachers/pdfs/segment9-4.pdf
Founders of the Knights of Labor: http://6hourday.org/images/FoundersKoL1886.jpg
Knights of Labor symbol: http://content.answers.com/main/content/wp/en/a/a7/KOLlarge.jpeg
Uriah Stevens: http://www.freemasonry.bcy.ca/biography/images/stevens_u.jpg
Samuel Gompers: http://content.answers.com/main/content/img/BritannicaConcise/images/24735.jpg
IBEW: http://www.ibew683.org/ibew683.jpg
Teamsters: http://www.focusink.com/images/teamsters_official_logo.gif
PSEA: http://cattyea.org/images/psea2.png
Strike: http://weblogs.newsday.com/entertainment/tv/blog/strike.jpg
American Workers’ Union Strike: http://www3.niu.edu/~td0raf1/radicalunionism/548_214_Hooverville_street_protest_zm.jpg
Writers’ Strike: http://flowtv.org/wp-content/uploads/2008/05/wga9.jpg
Sit down strike 1937: http://info.detnews.com/dn/history/labor/images/flint1.gif
Lyndhurst: http://www.lyndhurst.org/images/LyndhurstFront.jpg
Biltmore: http://www.biltmore.com/images/content/biltmore_img_media.jpg