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Monopoly
1 company controls all aspects of an industry
Gives an unfair advantage and too much power to one entity
Trust
Several Companies colluding to monopolize
Sherman Anti-Trust Law
This law is passed in the 1890s to stop monopolies and trusts. Theodore Roosevelt and William Taft use it extensively
Middle
Industrialization led to the emergence of a ___________ class
Gilded Age
A term coined by Mark Twain
Appears to be gold, but has problems underneath the gold coating
During this age, industrialization is scaled to huge degrees
Economy of Scale
The more a company dominates, the cheaper it is to produce its goods
Exponential
Robber Barons
Titans of industry, innovators ⇒ made their riches themselves through both honest and dishonest means
Government of the corporation, by the corporation, for the corporation instead of for the people
Businesses no longer on a small scale ⇒ become corporations
Ida Tarbell / History of Standard Oil
an investigative reporter writes an expose book on Standard Oil’s control of political and social aspects
Muckrakers
Investigative reporters / photographers that uncovered the bad sides of corporations
Andrew Carnegie
Typical “Rags to Riches” story ⇒ worked his way up to make a steel company
“Anyone can do this” myth ⇒ ethos of America that attracted many immigrants
Cornelius Vanderbilt
This Robber Baron controlled railroads and was particularly nefarious
John D. Rockefeller
This robber baron was very rich, but also a philanthropist
Created Standard Oil which was later broken up by Roosevelt
J.P. Morgan
A banker that did many corporate takeovers ⇒ buys Carnegie Steel and TN Coal and Iron to form U.S. Steel, which becomes the largest steel corporation
Self sustaining: entire production process within the company
Felt that he was above the common man
Had run-ins with Theodore Roosevelt
Chinese Exclusion Act
This act banned all Asian immigrants
First
During this wave of immigration, immigrants mostly came from Western Europe (Ireland, Great Britain, Scandinavia, Germany) in the 1820s
Second
During this wave of immigration, immigrants came from Eastern Europe (Slavs, Poland, Russia) and Southern Europe (Italy)
Nativisim
Hatred / Fear of Immigrants
Racism against Italians, Eastern Europeans, Asians
Jacob Riis
This photographer took photographs showing urbanization problems in NYC “How the Other Half Lives”
His pictures showed overcrowding, poverty, sanitation problems, neglect, and crime
Middle Class Reformers
These were the first to begin trying to fix problems at small, loval levels
Racism, Income Inequality
These problems were pushed to the side in favor of focusing on labor and city problems
Labor + Capital
Economy =
lack
Unionizing saw a ______ of success
Collective bargianing
Unions used this strategy to try to peacefully negotiate with capital wokers
Strikes / Picketing
Unions used this strategy to cause disruption: stop work
American Federation of Labor
A union that restricted membership to only skilled workers
Wanted an 8 hour work day
Pullman Railroad Strike
Workers went on strike in an influential railroad company in Chicago
Wages were cut due to a recession, however rents in the Pullman sanctioned apartments was kept the same
Eugene V. Debs (socialist) led workers on a strike and boycott of the rail cars
The president ends up sending federal troops ⇒ on the side of capital
Corporate Police
Corporation owners hired these as strike breakers / thugs in order to dispel strikes
Pinkerton Detective Agency
Spies like this company infiltrated the workplace and attempted to find leaders of unions
Homestead Steel Strike
This company shut down their factories for a few weeks to prevent strikes
Haymarket Riot
Demonstrators were calling for an 8 hour workday
100k walked out on May 1st
By May 4th, 60 police were killed
The following trials rounded up the union leaders and hung them without evidence
City Boss
A 1st generation American or an immigrant that gains power in a city by “pulling strings”
People can get jobs, lodgings, etc. through connections in exchange for favors
Grafting
being privy to projects and strategically buying out real estate
Tweed Ring
This corruption circle was broken up by political cartoons: people did not have to be literate to understand them
Lincol Steffens
This was the author of “Shame of the City”, who investigated Philadelphia’s practice of giving jobs through patronage
Progressivism
Belief in progress to solve society’s problems
Developing moral / ethical will ⇒ wanting to help those less fortunate, not being selfish
Intellectual insight ⇒ what’s happening in the nation? Staying informed and educated
Developed in both private and public agencies
Victorian Ideals
Conservative, hearth, women = carers, men = workers
“Cult of domesticity” was inherited from Great Britain
These ideals no longer fit the middle class
Temperance Movement
This movement is when reformers attempt to ban liquor
Meat Inspection Act
This law was encouraged by the Housewives Alliance in response to meat companies selling spoiled meat. This eventually led to the creation of the FDA
Upton Sinclair
Author of “The Jungle”, a book that described the horrors of the meatpacking industry. He later meets with TR and helps pass the Meat Inspection Act which led to the creation of the FDA
Settlement Houes
Where new immigrants “settle” ⇒ are taught a trade
Made by people who have money, copied from England
Wisconsin
Led by Rob LaFollete, this state was known as the “laboratory of democracy” and was the first to implement primary elections, employment tests, and restrict lobbyists
United Mine Workers Coal Strike
During this strike, Theodore Roosevelt stands on the side of labor
Negotiates with both parties and threatens to nationalize the coal industry if the mine owners do not comply
Northern Securities Case
J.P. Morgan was buying out many railroads from the Great Lakes to the Pacific Ocean, aimed to control railways in half of the country
High private railroad rates would end up hurting the consumer
Stopped by TR
The Square Deal
Theodore Roosevelt runs for his own presidency
The federal government to protect labor and the people from the worst of capitalism
Labor Protection: TR on the side of labor, health, and safety in the workplace ⇒ OSHA
Regulate Trusts, Monopolies
Consumer Protection ⇒ FDA
Conserve Natural Resources
John Muir
Father of conservation
Forms the Sierra Club
Walks to Yosemite, wants to protect it
Preservationist: Wants to keep nature as it is
Meets with Theodore Roosevelt to discuss preservation
Preservationism
This ideology is formed of people who want to keep nature as it is. People like John Muir encouraged nature to stay untouched.
Gilford Pinchot
Appointed as Chief Forester by Theodore Roosevelt
Conservationist focused on forest management
Conservationism
This ideology focuses on management of natural resources and balancing use and protection
Showdown at Hetch Hetchy Valley
Much of Yosemite valley was outside the national parks
Developers want to build a dam
Muir tries to convince the government to not but it doesn’t work ⇒ valley is dammed and an aqueduct is made
Mesa Verde
This site in Colorado is home to an ancient Indigenous city, but all its relics were stolen by a Swedish Archaeologist
Antiquities Act
This act makes it so The President can set aside “antiques or relics of historic value”
TR applies this to lands: Devil’s tower national monument, etc.
William Howard Taft
This president was born wealthy, but genial
Was solicitor general, federal judge, governor of Philippines, where he creates a democratic society
Becomes secretary of war
Had a legal mind: strict Constitutional Interpretation, which was very different from TR
However, TR gives him support and he is nominated, wins election in a landslide.
Mixed Success at Presidency: 3 Betrayals of Roosevelt
Taft’s 3 Betrayals
Suing U.S. Steel: TR viewed it as a good trust. However, Taft was against all trusts
1909 Tariff: Led to high prices for consumers, Progressives didn’t like.
Ballinger vs. Pinchot: Secretary of interior wanted to lease mines, but Pinchot, as a conservationist, does not agree. Taft allows leasing of forests and fires Pinchot.
Suing U.S. Steel
Taft’s first betrayal of Roosevelt. He does this to a company that TR viewed as a good trust.
1909 Tariff
Taft’s second betrayal: This led to high prices for consumers and Progressives were against it. However, Taft signed this law into effect
Ballinger vs. Pinchot
Taft’s third betrayal: Secretary of interior wanted to lease mines, but Pinchot, as a conservationist, does not agree. Taft allows leasing of forests and fires Pinchot.
National Ex-Slave Mutual Relief, Bounty, and Pension Association
Created by Callie House, a former slave in TN
Birthed the reparation movement of the 1890s
Demanded compensation for unpaid slave labor and was supported by poor blacks
W.E.B. DuBois
This person adopted racist ideas similar to Uncle Tom’s Cabin
Assimilationist Ideas, thought African Americans were crippled by Slavery
Participated in NAACP
Looked down on lower-class blacks
Ida B. Wells
This person Noticed there were lots of lynchings
Southern Horrors: A pamphlet describing that only ⅓ of lynchings were of charged individuals
White men were lying to cover up their own assaults
Booker T. Washington
Principal of the Tuskegee Institute
Wanted blacks to focus on lower, more acceptable pursuits
In public, tailored to white elite, but in private supported civil rights
“Atlanta Compromise” - Asked Southern whites to stop pushing blacks out of the country
“Let them live in the basement” and start low
Gains national acclaim: Tuskegee magazine controlled colleges, newspapers, etc.
Atlanta Compromise
Here, Booker T. Washington Asked Southern whites to stop pushing blacks out of the country
“Let them live in the basement” and start low
Plessy vs. Fergurson
Legalized “separate but equal”, stopped antiracists’ resistance in the courts
Bull Moose Party
The new Progressive Party, also known as the ______________, was created when Theodore Roosevelt did not recieve the Republican nomination for president and left to create his own party
New Nationalism
The platform of the new Progressive Party:
Government needs to be a caretaker and intervene for the well-being of the people
Create an activist government to regulate businesses
Socialism
Things/Corporations/Resources in society that are really important need to be state-run
Eugene V. Debs
Socialist candidate in election of 1912
Woodrow Wilson
Democrat who got elected for president in 1912, known for a progressive presiency
New Freedom Platform
Woodrow Wilson’s platform:
Government is a hands-off umpire: give people the freedom to do Capitalism
Restore competitive freedoms
Attack high tariffs
Raise private ownership, states’ rights
Underwood Simmons Bill
Woodrow Wilson lowered the tariff by 10%
Federal Income Tax
Under Woodrow Wilson’s presidency, the 16th Amendment created _______
Progressive Tax
Woodrow Wilson created a graduated _____________
Clayton Anti-Trust Act
Sherman didn’t do enough to outlaw “trust-like” practices
Stops stock takeovers of other companies if it creates a monopoly
Prohibits “interlocking” directorates
Federal Trade Commission
created in 1913 to monitor big companies
Protect consumers from fraud and embezzlement
Sues companies, enforces anti-trust laws
Currency Law
Part of the Federal Reserve Act: Makes the US dollar more secure, circulates through the economy
Federal Banking System
Part of the Fedreal Reserve Act: Federal Reserve “super”banks in big cities
Keep smaller banks from closing
Has a board that decides which banks are good enough to give a loan to
Avoid banking panics, oversee smaller banks
Set the Federal Funds Rate (interest charged to private banks)
Maintain “healthy” inflation rate of 2%
Securities and Exchange Commission
This is created under the Federal Reserve Act: Looks at history of trades and investigates companies
Monitors stocks and the stock market
17
This amendment allows Senators to get elected directly by popular vote.