the gilded age part 1

Gilded Age

1871–1899, rapid U.S. industrial growth, wealth, and corruption

Why did the U.S. catch up to England after the Civil War?

Capitalism, democracy, and war tech boosted industry

Laissez-faire

No government regulation of business

Trust

One group controls shares of other companies

Holding company

Company owning controlling shares of others

Vertical integration

Control all steps of production

Horizontal integration

Eliminate competitors by buying them out

John D. Rockefeller

Oil, Standard Oil, vertical + horizontal integration

Andrew Carnegie

Steel, Bessemer process, vertical integration

Cornelius Vanderbilt

Railroads, consolidated lines

Gustavus Swift

Meatpacking, refrigerated rail cars

Scientific Management

Taylor’s system to increase worker efficiency

Social Darwinism

Survival of the fittest applied to business

Granger Laws

State laws regulating railroads and grain storage

Munn v. Illinois (1877)

States can regulate businesses in public interest

Wabash v. Illinois (1886)

Only federal gov. can regulate interstate commerce

Interstate Commerce Commission

Federal agency regulating railroads

Knights of Labor

First big labor union, 8-hour day, declined after Haymarket

Greenback-Labor Party

Workers + farmers, supported paper money

Farmer’s Alliance

Organized farmers against railroads and banks

Immigration in the Gilded Age

Burlingame Treaty encouraged Chinese; Chinese Exclusion Act restricted them

Tenement conditions

Overcrowded, unsafe housing for workers

Boss Tweed

NYC political machine leader, corrupt but helped immigrants

Labor problems

Long hours, low pay, unsafe conditions, child labor

Robber barons’ backgrounds

Humble origins, became wealthy businessmen

Why did farmers support the Granger Laws?

To regulate unfair railroad and storage rates

What was the result of Munn v. Illinois?

States could regulate businesses affecting the public interest

What was the result of Wabash v. Illinois?

Only federal government could regulate interstate commerce

Why was the Interstate Commerce Commission created?

To regulate railroad rates after Wabash

What was the goal of the Knights of Labor?

8-hour workday and better labor conditions

Why did the Knights of Labor decline?

Blamed for violence at Haymarket Riot

What did the Greenback-Labor Party support?

Paper money and opposing monopolies

What was the Farmer’s Alliance?

Farmers organizing to resist exploitation by railroads and banks

Why was the Chinese Exclusion Act passed?

Rising nativism and anti-immigrant sentiment

Why were tenements dangerous?

Overcrowded, unsafe, unsanitary conditions

How did Boss Tweed gain immigrant support?

Traded services for votes through Tammany Hall

How did Social Darwinism justify wealth inequality?

Claimed rich succeeded due to “survival of the fittest”

What strategy did Rockefeller use to dominate oil?

Vertical and horizontal integration

What was Taylor’s Scientific Management?

System to improve worker efficiency with strict rules