As business in America began to grow, American entrepreneurs maximized their profits by monopolizing industries and denying their employees sufficient pay and benefits…

mac, leslie, mir, sarah, ashley

part 1

Disagreements between builders and backers led to start of transcontinental railroad. Central Pacific:-East from Sacrament0- 1863-$200,000 bribes- 9 million acres, 24 mil. In bonds- $36 mil.- cost of railroad- 79 mil.- paid to construction companies -Leland StanfordUnion Pacific:-Nebraska to West- created by Credit Mobilier- 12 mil. acres of land- 27 mil. government bonds- 44 mil. Construction- 94 mil. paid to Credit Mobilier

marked completion of the transcontinental railroad.

north of salt lake city, Utah

two gold to silver spikes

May 10, 1869

where the central pacific and union pacific tracks met.

Leland Stanford- hammered spikes into ground

missed on the first swing.

part 2

Inventions and Inventors:

Thomas Edison - Light bulb- 1880-first electrical power plant in NY-invented lamp to light rooms

Telegraph-1884 Samuel Morse

Sewing Machine-1864 Elias Howe

Safety Elevator-Elisha Elevator 1852

Steam Boiler Furnace-Granville Woods

Natural Recourses- Edwin Drake- oil

Growing Workforce- ¾ of a million immigrants came to U.S.

Government Policies- tariffs, laissez- faire

Technology and Transportation- railroads, time zones, automobiles with gas engines, airplanes

Manufacturing- mass productionIndustry- iron and steel

expanding markets= expanding business

•completion of transcontinental railroad- more opportunity for business-improved transportation and communication• formation of corporations-Many people shared ownership of business- capital (invested money) allowed funding for new technology• business methods-Cut costs- minimum for raw materials- lowest possible wages for employees- increase in advertising-Trusts- shareholders were convinced to let business be run by a board of trustees from bigger company- created monopoly-Monopolies-- control over entire industries-- horizontal integration--- corporation is merged or taken by another in same industry--- conglomerates- two businesses merging to form multi- industry company--- monopolies?

John D. Rockefeller: the richest person in history.• The first American billionaire• Started Standard Oil of Ohio• Bought out companies and built the Standard Oil Trust

Horizontal Integration: Andrew Carnegie made a fortune by selling Carnegie Steel Co., which by the 1890’s was the largest enterprise in the whole world, to J.P. Morgan in 1901. Federal Steel Co., Carnegie Steel Co. and several other smaller steel manufacturers were merged into U.S. Steel, which is now the world’s tenth largest steel manufacturer.

Immigrants Increased Workforce

• decreased wages•long hours

•poor working conditions

Labor Unions Form• collective bargaining tried

1820’s• first national union formed-

1834• knights of labor formed- 1869

United They Strike • first major strike in railroad history-

1877•Haymarket square

•Pullman railroad car company strike- 1894

Founded: 1885 by Samuel GompersPresident for almost 40 yearsCraft Union of 100 Local Listings

Originally called: FEDERATION OF ORGANIZED TRADES AND LABOR UNIONS

Main goal: -Improve wages, hours, and working conditions-Set up fund to help workers in need

Main Strategy:-Establish workplace where only union members worked-Negotiate business contracts-Resort strikes only in dire emergency

Largest and most powerful labor union in America during last half of the 19th century

Represented all workers in all industries

Approx 750,000 members at its

largest

Participates in famous strikes such as The Great

Railroad Strike of 1877

Uriah Stevens:

founder and Master

Workman (president)

1890: Social and political differences caused the end of the Knights of

labor; eventually

merged with AFL

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•“golden spike ceremony.” American History. 200p. ABC-CLIO. 10 May 2009 <http://www.americanhistory.abc-clio.com>.• “Age of Railroads (Overview). “American History. 2009. ABC-CLIO. 10 May 2009 <http://www.americanhistory.abc-clio.com>.• “Knights of Labor”. American History. 2009. ABC-CLIO. 11 May 2009 <http://www.americanhistory.abc-clio.com>. • “Business of America, 1850-1900 (Overview). “American History. 2009. 9 May 2009 <http://americanhistory.abc-clio.com>.• “Invention, 1850-1900 (Overview). “American History. 2009. ABC-CLIO. 8 May 2009 <http://americanhistory.abc-clio.com>.•"Workers of the World, Unite! 1870-1914 (Overview)." American History. 2009. ABC- CLIO. 10 May 2009 <http://www.americanhistory.abc-clio.com>.• Lapsansky-Werner, Emma J., Peter B. Levy, Randy Roberts, Alan Taylor. United States History. Boston, Massachusetts: Pearson Education, Inc, 2008.