Squad Flashcards Chapter 13 - U.S. Industry Expands
Railroads (inventions?)
invention of steam locomotive; Transcontinental Railroad (Pacific Railway Act of 1862);
George Westinghouse
car replacer - 1866;
air brakes - 1869;
signal system - 1882
- also alternating current and transformers
Granville Woods
telegraphony - voice and telegraph on one wire
synchronous multiplex railway telegraph
other inventions
time zones - 1883;
mass production/assembly line
Gustavus Swift
refrigerated train cars
Thomas Edison
stock tickers phonograph (record player) light bulb power stations Edison General Electric Co. Menlo Park, NJ - smart person invention party
Henry Bessemer
Bessemer process - burn impurities to make steel (guns originally)
William Kelly
Kentucky Iron Works - did he first make steel?
Andrew Carnegie
Scottish immigrant - telegraph operator
Expands into other business and begins investing
Iron business (1864)
Shifts to steel in 1973 when Bessemer process happens
Bought mills during depression of 1890’s
“Gospel of Wealth” document - money is meant to help people
$350 million donations in life
Vertical consolidation
John Rockefeller
Loaned money to a farmer at age 12 Math genius Bookkeeper Started business at 20 Oil industry - 1863 Standard Oil - 1870 Horizontal consolidation (and vertical) - 40 companies Donated $400 million
Horizontal Consolidation
Buy all of one industry, e.g., buy all cloth companies if you make cloth
Vertical Consolidation
Lower price of production by buying entire production process of goods, e.g., all transport, production in factory, etc.
Trust
separate companies placed under a single Board of Trustees
Cartel
businesses who make the same product and agree to limit supply to keep prices up
Interstate Commerce Commission
regulation of railroad operations 1887
Sherman Antitrust Act
outlawed trusts that, in interstate commerce, operated in restraint of trade 1890
Piecework
workers are paid by products made, not by time (a commission)
Social Darwinism
society should not interfere with pursuit of success
American Federation of Labor
Samuel Gompers - Skilled workers only;
legislation for working conditions;
politically not industry;
part of salary goes to strike fund;
promoted unions, mediated between management and workers;
closed shops - if you work in this factory, you have to join union
Knights of Labor
Terrence Powderly - 8 hour workday; no labor Sunday; abolish child labor; equal pay; safety codes; industry not politically
Railroad Strikes of 1877 (Depression of 1870)
Pay cuts and layoffs
B(altimore) and O(hio) rail workers strike
Pres. Hayes sends federal forces
Haymarket Square Riot of 1886 (Chicago)
McCormick Harvesting Machine Co.
Shorter work day - 10-8
Police needed - one killed
Larger crowd the next day - pipe bomb (anarchists?)
Knights viewed as radicals - end of Knights
Homestead Strike of 1892 (1890 depression)
A.A. of Iron and Steel Workers v. Carnegie Steel company
Carnegie in Scotland, Frick in charge ->
20% wage cut
Pinkertons sent by Frick, stopped by rioters- 3 killed (shot while on barge)
State militia controls situation
Pullman Strike of 1894 (depression of 1890)
Luxury rail cars
Reduced wages - no rent reduction in company town
Involved rail workers too - no trains with these cars
First national strike - ruined rail transport for days