THE RISE OF BIG BUSINESS - PowerPoint PPT Presentation


Title: THE RISE OF BIG BUSINESS


1
THE RISE OF BIG BUSINESS MONOPOLIES
2
The Post war Economy
  • Caused a growth of economic expansion
  • The National Banking Act created a sounder
    economy, but the effects were vague at best
  • The labor shortage caused an increase in
    invention, efficiency, faster more labor saving
    methods machinery
  • The 2nd Industrial Revolution caused the US
    economy society to transform into a modern
    urban-industrial state.
  • It created an interconnected national railroad,
    the use of electric power, the use of
    scientific research in the industrial process.

3
The Transcontinental Railroad
  • Railroads were the 1st Big Business
  • RR were the 1st to attract large financial
    markets
  • The 1st to develop large-scale management
    bureaucracy
  • Union Pacific RR started in Omaha, Neb. And
    worked westward
  • Central Pacific RR started in Sacramento, Ca. and
    worked eastward, in a race to see which RR would
    build the most track.
  • Majority of the work was done by immigrants,
    mainly from Ireland China, but Mexicans,
    blacks, whites, Indians, also worked
  • Union Pacific built 1,086 miles of track, while
    the Central Pacific built 689.
  • Met at Promontory Point, Utah on May 10, 1869.
    Ca. Gov. Leland Stanford drove in the final
    Golden Spike

4
Robber Barons
  • Started with the immoral financial practices of
    the RR moguls, then spread to other
    Industrialists
  • Bought politicians other government officials
  • Stole the land from the people in the areas the
    RR wanted to go
  • Jay Gould The Prince of the Robber Barons
    would buy old, run-down RR and polish them up
    to sell at a profit. They were very unsafe!
  • Cornelius Vanderbilt was already very wealthy,
    made his fortune in the steamboat ind. Before
    the War. Switched over to RR during the War
    because the former was getting to risky.

5
  • Consolidated most of the eastern RR built spurs
    connecting major cities, i.e. NY Buffalo.
  • Purchased the Lake Shore Mich. Southern RR
    giving him the very prosperous Chicago market
  • After his death in 1877, his son, William Henry,
    continued the trend of extending RR lines. By
    1900 over two-thirds of the US RR lines were
    under the control of one of Vanderbilts RR
    companies.
  • This was a major factor in the stimulation of the
    nations economy

6
John D. Rockefeller
  • Recognized very early the importance of oil
  • Started the Rockefeller, Andrews Flagler Co. in
    1867
  • By 1870 The Standard Oil Co. the largest
    refiner of oil. Began to systematically
    eliminate his competitors. He cornered the
    market on shipping RR, and forced them to
    inform him of his competitors movements
    shipments.
  • He would then be in a position to by them out.
    Most wanted out of the oil business anyway, very
    chaotic and competitive. By 1879 he controlled
    90-95 of the nations oil refining. Set up
    Trusts which allowed him to stay in the
    background, while running the business.

7
Andrew Carnegie
  • A rags to riches story started as an immigrant
    from Scotland, worked as a Bobbin boy in the
    textile mills. Worked his way up to telegraph,
    RR the steel industry.
  • He was never a steel expert, but surrounded
    himself with the most knowledgeable people in the
    field. He was an excellent promoter, salesman,
    organizer had the ability to find these experts
    cheaply
  • He was called a Captain of Industry stated
    not evil, but good, has come to the race from the
    accumulation of wealth by those who have the
    ability energy that produces it
  • Donated over 500 Million during his lifetime,
    mainly to colleges, universities, libraries,
    hospitals, parks recreation areas, the arts,
    etc.

8
J.P. Morgan
  • Born very wealthy, arrived in NY in 1857
  • An investment banker bought corporate stocks
    bonds sold them at a profit.
  • Consolidated the steel industry and later the RR
  • US Steel Corp. merged the iron steel
    industries, bought out Carnegies holdings in
    1901 for 500 Million.
  • This was the 1st 1 Billion corporation in the US

9
Sears Roebuck
  • Followed the lead of Montgomery Ward in the mail
    order business
  • 1890s catalog was 786 pages offered anything
    everything
  • The Wal-Mart of its day.
  • Only made it because of the stable postal
    service, the RR and improved transportation
    routes.

10
Manufacturing Invention
  • 235,000 US Patents were issued in the 1890s
  • Innovations in the steel ind. Increased
    production, quality, refining usage
  • Refrigerated RR cars for the meat packing ind.,
    the harvesting of grain from the prairie regions
    of the west increased baked goods, the
    Automatic Cigarette Roller was a boon for the
    tobacco ind.
  • Electrification communication technology had
    the single most largest impact on the lives of
    Americans

11
Alexander Graham Bell
  • Invented the telephone, patented in 1876 and
    formed the National Bell Telephone Co.
  • Tried to sell it to Western Union, who thought it
    was a toy. Then Western Union hired Thomas Alva
    Edison to improve on Bells design this is the
    prototype of the modern telephone.
  • Bell set out and formed the American Telephone
    Telegraph Co. (AT T)

12
Thomas Alva Edison
  • Invented mostly for the electrical industry
  • Invented the Phonograph in 1877, the 1st
    successful incandescent light bulb. Many are
    still working in his home in Fla. For over 100
    yrs. Perfected 100s of other devices, i.e. the
    battery the motion picture.
  • Started the Edison Electric Illuminating Co.
    This was the 1st electric utilities company.
    Supplied 85 people with electric power in their
    homes in NY City. Used DC current was limited
    to a 2 mile radius

13
Nicola Tesla
  • Born around July 9, 1856 in Smiljan, Croatia.
  • While in Paris he actually worked for the
    Continental Edison Co. (Thomas Edisons company
    in France)
  • Immigrated to the US in 1884, he was a prolific
    inventor. Created the AC current, discovered the
    rotating magnetic field, invented the Tesla Coil
    which is used in radio technology.
  • George Westinghouse of the Westinghouse Electric
    Co. bought many of Teslas inventions patents.
    Especially his AC dynamo, which gave Westinghouse
    the upper hand in the Electric Wars
  • He died in New York City on Jan. 7, 1943

14
The Rise of the Unions
  • Fought for better working conditions, used
    violent strikes to get their point across.
  • This dominated the period of the Unions.
  • The Knights of Labor 1869 founded by Uriah
    Stephens. Named the Noble and Holy Order of the
    Knights of Labor, supposedly had connections
    with secret societies the Masons. By 1886 it
    had about 700,000 members
  • They took on the RR Jay Gould and defeated him.
    But 1 yr. Later with the Haymarket Affair
    their link with Anarchists.

15
Union Violence
  • The Haymarket Affair May 4, 1886 in response
    to the police killing a union striker at the
    International Harvester strike the day before,
    Anarchists planned an open protest at Haymarket
    Square in Chicago, Ill.
  • After several speeches promoting anarchism
    socialism, the police moved in to break up the
    gathering.
  • A bomb was thrown at the police killing 1
    injuring several. The police then fired on the
    crowd killing several.
  • One of the anarchist leaders was German had a
    membership card to the Knights of Labor.
  • This led to the downfall of the organization
    the belief that all unions are socialists.

16
Political Changes
  • Anarchism the opposition to all existing govt.
  • Increased growth during this time, many were
    linked with the unions of the day. Led many
    violent protests, perpetuated the anti-immigrant
    feelings that were growing in the US. Many of
    the Anarchists immigrants were from Europe,
    i.e. Germany, Russia, etc. Mainly located in the
    upper mid-west region Wis., Mich., Minn., Ill.

17
Socialism
  • The government system in which co-operative
    action is the norm property is owned by the
    community, not the individual.
  • American unions never really allied themselves
    with the socialist movement the way the European
    unions did. But much of the socialist ideals
    made their way into US unions, by the German
    other European immigrants bringing it with them.
  • Many of the German immigrants were Marxists, a
    branch of socialism. Founded on the writings
    ideals of Karl Marx. Formed the Socialist Labor
    Party in NY in 1877.

18
  • Daniel DeLeon gave notice to the rise of the
    socialist movement in the US in the 1890s. His
    ideas influenced Lenin, but DeLeon wanted to
    start a workers revolution at the ballot box, not
    in the streets.
  • Eugene V. Debs followed DeLeon in the socialist
    movement, but was not as peaceful. Built a
    larger following than DeLeon, organized the
    Social Democratic Party. He was the socialist
    candidate in several Pres. Elections, by 1912
    he had earned 6 of the popular vote for Pres.
  • Many mid-west cities towns began electing
    socialst/Marxists officials to office. Mayors,
    Cong., Rep., Sen., etc. By 1912, 33 major US
    cities had socialists /or Marxists officials.

19
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THE RISE OF BIG BUSINESS

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Title: THE RISE OF BIG BUSINESS


1
THE RISE OF BIG BUSINESS MONOPOLIES
2
The Post war Economy
  • Caused a growth of economic expansion
  • The National Banking Act created a sounder
    economy, but the effects were vague at best
  • The labor shortage caused an increase in
    invention, efficiency, faster more labor saving
    methods machinery
  • The 2nd Industrial Revolution caused the US
    economy society to transform into a modern
    urban-industrial state.
  • It created an interconnected national railroad,
    the use of electric power, the use of
    scientific research in the industrial process.

3
The Transcontinental Railroad
  • Railroads were the 1st Big Business
  • RR were the 1st to attract large financial
    markets
  • The 1st to develop large-scale management
    bureaucracy
  • Union Pacific RR started in Omaha, Neb. And
    worked westward
  • Central Pacific RR started in Sacramento, Ca. and
    worked eastward, in a race to see which RR would
    build the most track.
  • Majority of the work was done by immigrants,
    mainly from Ireland China, but Mexicans,
    blacks, whites, Indians, also worked
  • Union Pacific built 1,086 miles of track, while
    the Central Pacific built 689.
  • Met at Promontory Point, Utah on May 10, 1869.
    Ca. Gov. Leland Stanford drove in the final
    Golden Spike

4
Robber Barons
  • Started with the immoral financial practices of
    the RR moguls, then spread to other
    Industrialists
  • Bought politicians other government officials
  • Stole the land from the people in the areas the
    RR wanted to go
  • Jay Gould The Prince of the Robber Barons
    would buy old, run-down RR and polish them up
    to sell at a profit. They were very unsafe!
  • Cornelius Vanderbilt was already very wealthy,
    made his fortune in the steamboat ind. Before
    the War. Switched over to RR during the War
    because the former was getting to risky.

5
  • Consolidated most of the eastern RR built spurs
    connecting major cities, i.e. NY Buffalo.
  • Purchased the Lake Shore Mich. Southern RR
    giving him the very prosperous Chicago market
  • After his death in 1877, his son, William Henry,
    continued the trend of extending RR lines. By
    1900 over two-thirds of the US RR lines were
    under the control of one of Vanderbilts RR
    companies.
  • This was a major factor in the stimulation of the
    nations economy

6
John D. Rockefeller
  • Recognized very early the importance of oil
  • Started the Rockefeller, Andrews Flagler Co. in
    1867
  • By 1870 The Standard Oil Co. the largest
    refiner of oil. Began to systematically
    eliminate his competitors. He cornered the
    market on shipping RR, and forced them to
    inform him of his competitors movements
    shipments.
  • He would then be in a position to by them out.
    Most wanted out of the oil business anyway, very
    chaotic and competitive. By 1879 he controlled
    90-95 of the nations oil refining. Set up
    Trusts which allowed him to stay in the
    background, while running the business.

7
Andrew Carnegie
  • A rags to riches story started as an immigrant
    from Scotland, worked as a Bobbin boy in the
    textile mills. Worked his way up to telegraph,
    RR the steel industry.
  • He was never a steel expert, but surrounded
    himself with the most knowledgeable people in the
    field. He was an excellent promoter, salesman,
    organizer had the ability to find these experts
    cheaply
  • He was called a Captain of Industry stated
    not evil, but good, has come to the race from the
    accumulation of wealth by those who have the
    ability energy that produces it
  • Donated over 500 Million during his lifetime,
    mainly to colleges, universities, libraries,
    hospitals, parks recreation areas, the arts,
    etc.

8
J.P. Morgan
  • Born very wealthy, arrived in NY in 1857
  • An investment banker bought corporate stocks
    bonds sold them at a profit.
  • Consolidated the steel industry and later the RR
  • US Steel Corp. merged the iron steel
    industries, bought out Carnegies holdings in
    1901 for 500 Million.
  • This was the 1st 1 Billion corporation in the US

9
Sears Roebuck
  • Followed the lead of Montgomery Ward in the mail
    order business
  • 1890s catalog was 786 pages offered anything
    everything
  • The Wal-Mart of its day.
  • Only made it because of the stable postal
    service, the RR and improved transportation
    routes.

10
Manufacturing Invention
  • 235,000 US Patents were issued in the 1890s
  • Innovations in the steel ind. Increased
    production, quality, refining usage
  • Refrigerated RR cars for the meat packing ind.,
    the harvesting of grain from the prairie regions
    of the west increased baked goods, the
    Automatic Cigarette Roller was a boon for the
    tobacco ind.
  • Electrification communication technology had
    the single most largest impact on the lives of
    Americans

11
Alexander Graham Bell
  • Invented the telephone, patented in 1876 and
    formed the National Bell Telephone Co.
  • Tried to sell it to Western Union, who thought it
    was a toy. Then Western Union hired Thomas Alva
    Edison to improve on Bells design this is the
    prototype of the modern telephone.
  • Bell set out and formed the American Telephone
    Telegraph Co. (AT T)

12
Thomas Alva Edison
  • Invented mostly for the electrical industry
  • Invented the Phonograph in 1877, the 1st
    successful incandescent light bulb. Many are
    still working in his home in Fla. For over 100
    yrs. Perfected 100s of other devices, i.e. the
    battery the motion picture.
  • Started the Edison Electric Illuminating Co.
    This was the 1st electric utilities company.
    Supplied 85 people with electric power in their
    homes in NY City. Used DC current was limited
    to a 2 mile radius

13
Nicola Tesla
  • Born around July 9, 1856 in Smiljan, Croatia.
  • While in Paris he actually worked for the
    Continental Edison Co. (Thomas Edisons company
    in France)
  • Immigrated to the US in 1884, he was a prolific
    inventor. Created the AC current, discovered the
    rotating magnetic field, invented the Tesla Coil
    which is used in radio technology.
  • George Westinghouse of the Westinghouse Electric
    Co. bought many of Teslas inventions patents.
    Especially his AC dynamo, which gave Westinghouse
    the upper hand in the Electric Wars
  • He died in New York City on Jan. 7, 1943

14
The Rise of the Unions
  • Fought for better working conditions, used
    violent strikes to get their point across.
  • This dominated the period of the Unions.
  • The Knights of Labor 1869 founded by Uriah
    Stephens. Named the Noble and Holy Order of the
    Knights of Labor, supposedly had connections
    with secret societies the Masons. By 1886 it
    had about 700,000 members
  • They took on the RR Jay Gould and defeated him.
    But 1 yr. Later with the Haymarket Affair
    their link with Anarchists.

15
Union Violence
  • The Haymarket Affair May 4, 1886 in response
    to the police killing a union striker at the
    International Harvester strike the day before,
    Anarchists planned an open protest at Haymarket
    Square in Chicago, Ill.
  • After several speeches promoting anarchism
    socialism, the police moved in to break up the
    gathering.
  • A bomb was thrown at the police killing 1
    injuring several. The police then fired on the
    crowd killing several.
  • One of the anarchist leaders was German had a
    membership card to the Knights of Labor.
  • This led to the downfall of the organization
    the belief that all unions are socialists.

16
Political Changes
  • Anarchism the opposition to all existing govt.
  • Increased growth during this time, many were
    linked with the unions of the day. Led many
    violent protests, perpetuated the anti-immigrant
    feelings that were growing in the US. Many of
    the Anarchists immigrants were from Europe,
    i.e. Germany, Russia, etc. Mainly located in the
    upper mid-west region Wis., Mich., Minn., Ill.

17
Socialism
  • The government system in which co-operative
    action is the norm property is owned by the
    community, not the individual.
  • American unions never really allied themselves
    with the socialist movement the way the European
    unions did. But much of the socialist ideals
    made their way into US unions, by the German
    other European immigrants bringing it with them.
  • Many of the German immigrants were Marxists, a
    branch of socialism. Founded on the writings
    ideals of Karl Marx. Formed the Socialist Labor
    Party in NY in 1877.

18
  • Daniel DeLeon gave notice to the rise of the
    socialist movement in the US in the 1890s. His
    ideas influenced Lenin, but DeLeon wanted to
    start a workers revolution at the ballot box, not
    in the streets.
  • Eugene V. Debs followed DeLeon in the socialist
    movement, but was not as peaceful. Built a
    larger following than DeLeon, organized the
    Social Democratic Party. He was the socialist
    candidate in several Pres. Elections, by 1912
    he had earned 6 of the popular vote for Pres.
  • Many mid-west cities towns began electing
    socialst/Marxists officials to office. Mayors,
    Cong., Rep., Sen., etc. By 1912, 33 major US
    cities had socialists /or Marxists officials.

19
(No Transcript)
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