Industrialization and the Gilded Age

1. Industrialization and the Gilded Age Julia Feldman, Brittany Seitzman, Kaitlin Homberg, Daniel Mulavelil, and Bhavichy V

2. The Gilded Age • Coined by __________ who said • “It is an era of serious ______ problems hidden by a layer of gold”

3. Influence of railroads • Granger laws • resulted from the ____________________case • These laws prevented owners from making ______profits because there was a lack of ___________and ability to _____their own prices • the court established the idea of ______regulation of _______businesses involved in serving the ______

4. Influence of railroads • Before time was synchronized across America, passengers on railroads would have to change their watches with every stop they made. • watches had set their timepieces by the _____ • Starting in 1883, every train running in each time zone ran on a _________________time within that zone. • This new invention caused a good deal of _____________

5. “Big Business” • The definition: Large scale, _________ controlled, financial business activity. • A few examples of these large scale businesses included _________, _____, and ____________________ • JPMorgan, Standard Oil Company, Carnegie steel • These companies used their power and money to create _____________, _______, and __________ • The purpose of big business is to make _____ _________ even if it is done unethically.

6. Andrew Carnegie • Immigrant from ___________ • Founded a ________ company • incorporated new ___________, new ____________, and hired chemists to improve the quality of steel he was producing.

7. Andrew Carnegie • _________ integration • when one buys out all of his _________ • This allowed him to control the raw materials, transportation systems and every stage of the manufacturing of his product **Example:

8. Andrew Carnegie • _____________ consolidation • when one buys out all of his ___________ steel companies • allowed him to build a ___________. **Example:

9. John D Rockefeller • Creator of ____________________ • Used trusts • merged his company with competing companies in a ___________________ • Participants turned their stock over to a group of trustees • The companies received certificates that entitled them to ___________ on profits earned by the trust

10. Political Cartoon What was the author trying to convey to his audience in this political cartoon? Explain the caption at the bottom in your own words Symbolically, who is being made to walk the plank? Who do the pirates represent in this political cartoon? Why?

11. Assess the validity of this statement: “Modern American business practices were born during the 1880’s” _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________