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Chapter 18

Chapter 18 . The Industrial Society, 1850-1901 . Industrial Development . Entrepreneur: US offered ideal conditions for rapid industrial growth. Abundance of cheap natural resources, l Large pools of labor Largest domestic market in the WORLD

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Chapter 18

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  1. Chapter 18 The Industrial Society, 1850-1901

  2. Industrial Development • Entrepreneur: • US offered ideal conditions for rapid industrial growth. • Abundance of cheap natural resources, l • Large pools of labor • Largest domestic market in the WORLD • Capital & government support w/o government regulation

  3. Factors that helped build an Industrial Economy • Labor supply from Europe & American FARMS • Inventions • National market • Plentiful $$$ • Favorable government policies • Entrepreneurs

  4. Railroad Empire • Positives of the RR • 1865-1916 laid down over 200,000 miles of track • Saved the federal government 1 billion $$$ X 1850-1945 • Greater speed & safety • Urban life to the country • RR companies were huge consumers AND employers • Building of Trunk lines • Transcontinental RR 1862 -Central & Union Pacific • Negatives of the RR • Monopolies • Fraud & waste connected • Intense competition • Panic of 1893

  5. Empire Builders & Inventions • Cornelius Vanderbilt - railroads • Andrew Carnegie – Steel • J.P. Morgan – Banking then United States Steel • John D. Rockefeller – Oil – Standard Oil Company & Standard Oil Trust • Thomas Edison – telegraph, camera, processed foods, telephone, phonograph, electricity. • Bessemer Process…..

  6. Cornelius Vanderbilt, J.P. Morgan, Andrew Carnegie, John D. Rockefeller

  7. Selling a Product to Wage Earners • Marketing became a tool to sell a product. • Advertising was common • Department stores • Brand names • Mail order catalogs • Wage Earners built the new factory society which included men, women, & children • Skilled & unskilled but skilled white males received a greater share of the prosperity.

  8. Culture of work • The hope of upward mobility was the goal for all factory workers. • Work difficult, long hours, little pay, worked w/ machines and by hand. • Punch the clock

  9. Labor unrest & birth of Labor Unions • American Federation of Labor (AFL) still exists. Pushed for better wages & safer working conditions and did resort to violence to achieve it. • Knights of Labor founded by Samuel Gompers • Opposed use of work strikes • Only skilled workers were members. Women & Blacks not allowed. • Employers applied strict laws to increase supply of product. Lead to more strikes. • REMEMBER the HAYMARKET RIOT!

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