american west and industrialization part 4
TRANSCRIPT
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American West and Industrialization
Part 4: Industrialization
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Th e Rise of Industry
Around t h e turn of t h ecentury, America began itsgreat industrializationperiod.
Corporations arose, bigbusiness men emerged,reform movements beganto grow, immigrants settled
at a mass rate, anddifferent social andeconomic c h anges sweptth e nation.
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Andrew Carnegie
Andrew Carnegie owned theCarnegie Steel Company , w h ich was very successful.
Carnegie wrote an essay titled " Th e
Gospel of Wealt h " in 1889.In th e essay, h e encouraged
wealthy businessmen to usetheir fortunes in ways that would benefit society.
Carnegie became a greatph ilant h ropist and funded t h ecreation of t h ousands of publiclibraries in t h e United States.
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Forty-Millionaire Carnegie in h is Great Double Role. Asth e tig h t-fisted employer h e reduces wages t h at h e may
play p h ilant h ropist and give away libraries, etc.
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J oh n D. Rockefeller
Joh n D. R ock efeller was t h e founder of theStandard Oil Company.
In 1879, h e created a trust in an effort to gainmore control of t h e oil industry.
Th e creation of t h e trust allowed Standard OilCompany to take over more companies inth e oil refining industry, creating a monopoly.
In 1890, t h e S h erman Antitrust A c t waspassed by Congress to ban trusts.
Th e Act allowed the federal government to start proceedings against trusts to dissolve them,but t h e Standard Oil Company trust was notdissolved until 1911 because t h e SupremeCourt rulings prevented federal aut h oritiesfrom using t h e S h erman Antitrust Act for years.
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Key T erms
Co rp o rati o n : A corporation is a type of business in w h ich owners sell stock, raise largeamounts of capital, and enjoy limited liability.
M o n o p o ly : A monopoly is a condition when there is only one seller of a particular good or service in the market ; for example, owning all of t h e steel companies in t h e U.S.
Robb
er Bar o
ns : Robber Barons were business owners who engaged in unfair or anti-competitive business practices ; for example, J oh n Rockefeller's establis h ment of atrust.
T rust : A trust occurs w h en shareholders of one company turn their shares over to aboard of trustees, who then control the business.
V erti c al Integrati o n : Vertical integration occurs when a person owns different parts of
the same production path ; for example, owning a cattle ranch
and a meat-packingplant.
Interstate C o mmer c e A c t
Th e Interstate Commerce Act allowed Congress to regulate the railroad industry.
It prevented railroad owners from c h arging unfair rates, forming pools, or givingrebates.
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Water Pumping Windmill
W ater pumping wind millswere built in t h e GreatPlains in t h e 1800s.
Windmills were an effectiveway to draw up water fromunderground since theplains did not get muchrain.
Windmills allowed farming totake place in areas t h atwere ot h erwise too dry for growing crops.
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Refrigerator Cars
Refrigerated railr o adc ars were inventedin 1877 by GustavusSwift.
Th ese cooled railroad cars allowed cattleto be slaughtered inone location and sent as frozen beef to a different
location.Before refrigerator
cars, cattle h ad to bes h ipped live, w h ich was very expensive.
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Barbed Wire
Bar b ed wire was invented in1874 by J osep h Glidden.
It is strong material made of h
eavy wire with
smaller pieces of wire twisted into"barbs."
Barbed wire was anaffordable and effectiveway to fence off largeareas, and it was strong enough to keep cattle in anenclosed space.
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Rapid Industrialization andUrbanization
Th e number of immigrants to fill jobs increases.
Railroads grow, including transcontinental line.
Many new inventions are patented, such
as th
etelep h one and lig h t bulb.L aissez-faire is t h e economic policy, w h ich
means t h at business is unregulated by
government.
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Populist Party
Th e P o pulist P arty grew as a response to farmers' frustrations (debt, h igh interest rates, inflated prices of manufactured goods and railroad use)
Populists championed the following platforms: Direct election of senators;Unlimited silver coinage; A national income tax; Shorter working hours
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Th omas Edison
T ho mas Edis o n is per h aps t h emost famous inventor of t h elate nineteent h century.
He was first recognized for theinvention of the phonograph.
J ust two years later, h e h adperfected the light bulb and the electric generator.
People in New York City wereth e first to experience electricpower in 1882.
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Alexander Gra h am Bell
Alexander Gra h am Bell was aScottis h -American inventor wh o is credited with theinvention of the first
telephone.He began studying speec h
patterns w h ile communicatingwith h is deaf mot h er and wife.
Eventually, t h ese studies led toth e telep h one, for w h ich h ereceived t h e first U.S. patentin 1876.
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Henry Ford
H enry F o rd is most well-known for the creation of Ford Motor Company.
He is also credited wit h th eintroduction of t h eassem b ly line , w h ich divided operations intosimple tasks along amechanized conveyor.
Workers were soon buildingcars every 93 minutes.
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Anti-Semitism
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Sir Henry Bessemer
S ir H enry Bessemer was anEnglis h man w h o produced steel from molten pig iron.
The idea be
hind t
heBessemer Process was t h e
removal of impurities fromth e iron by oxidation.
Andrew Carnegie adopted
th is met h od and went on torevolutionize t h e steelindustry in t h e UnitedStates.
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George Westing h ouse
Ge o rge W esting ho use was arival of Thomas Edison 'sduring t h e late nineteent h century.
Th ey were both attempting toestablish the most effectiveway to distribute electricity.
Westing h ouse argued for alternating current, meaningth e flow of t h e electric c h argeperiodically reversesdirection. Edison, h owever,advocated for direct current.