Chapter 18 The Industrial Society,

1850-1901

Industrial Development Entrepreneur:

US offered ideal conditions for rapid industrial growth.

Abundance of cheap natural resources, l Large pools of labor Largest domestic market in the WORLD Capital & government support w/o government

regulation

Factors that helped build an Industrial Economy Labor supply from Europe & American

FARMS Inventions National market Plentiful $$$ Favorable government policies Entrepreneurs

Railroad Empire Positives of the RR

1865-1916 laid down over 200,000 miles of track

Saved the federal government 1 billion $$$ X 1850-1945

Greater speed & safety Urban life to the country RR companies were huge

consumers AND employers

Building of Trunk lines Transcontinental RR 1862

-Central & Union Pacific

Negatives of the RR Monopolies Fraud & waste

connected Intense competition Panic of 1893

Empire Builders & Inventions Cornelius Vanderbilt - railroads Andrew Carnegie – Steel J.P. Morgan – Banking then United States

Steel John D. Rockefeller – Oil – Standard Oil

Company & Standard Oil Trust

Thomas Edison – telegraph, camera, processed foods, telephone, phonograph, electricity.

Bessemer Process…..

Cornelius Vanderbilt, J.P. Morgan, Andrew Carnegie, John D. Rockefeller

Selling a Product to Wage Earners Marketing became a tool to sell a product.

Advertising was common Department stores Brand names Mail order catalogs

Wage Earners built the new factory society which included men, women, & children Skilled & unskilled but skilled white males received

a greater share of the prosperity.

Culture of work The hope of upward mobility was the goal for

all factory workers. Work difficult, long hours, little pay, worked

w/ machines and by hand. Punch the clock

Labor unrest & birth of Labor Unions American Federation of Labor (AFL) still exists.

Pushed for better wages & safer working conditions and did resort to violence to achieve it.

Knights of Labor founded by Samuel Gompers Opposed use of work strikes

Only skilled workers were members. Women & Blacks not allowed.

Employers applied strict laws to increase supply of product. Lead to more strikes.

REMEMBER the HAYMARKET RIOT!