What is the Gospel of Wealth (Success)?
Also known as the Gospel of Wealth. It's were some Americans found religion to be the most convincing was to justify wealth ofsuccessful industrialists and bankers.
Railroad reorganizers such as Jay Gould were viewed as farsighted entrepreneurs who gave substance and organization to the haphazard railroad industry.
What was the Haymarket Square bombing?
It was where workers fought for the eight-hour day, and where a bomb and subsequent shooting resulted in the deaths of eight policemen and injuries to 67 others. Eight anarchists were jailed, tried, and convicted of murder, of which four were hanged.
This union leader became nationally known as a Socialist leader. He ran for the presidency several times.
Eugene V. Debs
The United States was divided into four time zones by the railroads in an effort to correct scheduling problems.
The Sherman Anti-trust Act outlawed trusts and monopolies that fixed prices in restraint of trade, but was rarely successful in limiting these actions in the 1890's.
Industrial work forces never included children because children were required to attend school.
Interstate Commerce Act
First federal attempt to control unfair practices by railroads.
technique of controlling all phases of production, extracting maximum profit
John D. Rockefeller
Creator of Standard Oil; master of the use of trusts to monopolize an industry.
Knights of Labor
Early labor organization; enjoyed considerable success for a while.
Company lock-out that sparked a strike and violence at a Carnegie steel planta in 1892.
Belief that capitalism would inevitably destroy itself in a violent class struggle, thus paving the way for classless, communist utopia.
Immigrant who built enormous steel company.
American Federation of Labor
Skilled craft unions united under leadership of Samuel Gompers.
spontaneous strikes not authorized by a labor union; some turned violent.
Thomas A. Edison
inventor, founder of first industrial research laboratory
After the Civil War large-scale manufacturing witnessed the rapid spread of technological innovation in transportation, commuication and factory systems.
The federal government refused to address public concerns about overcharging and monopolistic activity by railroads.
Defenders of capitalism believed that government should never attempt to control business.
The lack of industrial development in the South between 1860 and 1900 is directly linked to Civil War devastation in the South.
Rockefeller used a "pool", an agreement among several companies, to control oil prices.
Congress passed the Sherman Anti-Trust Act in 1890 in an attempt to outlaw trusts that acted as monopolies and fixed prices, thus creating restraint of trade.
This type of integration controls all aspects of manufacturing from extracting raw materials to selling the finished product.
He was a major innovator in the steel industry.
Corporate executives undercut labor's bargaining power in the 1890's by refusing to hire workers who were not members of unions.
He is the best known inventor of the late 1800's.
Southern industrialization led to large scale migration of whites to cities, but blacks seldom attempted to settle in Southern cities.
The railroads standardized their equipment and facilities. They corrected scheduling problems by dividing the country into four time zones. They switched to the new standard "4'8 ½" gauge track which helped with shipping delays, and they implemented cooperative billing arrangements. With these new implementations, the railroads were able to ship cars from other roads, including dining and sleeping cars, at lower rates. They also set up an elaborate accounting system that would show a more accurate and proficient detail of income and expenses, so that their rates could be adjusted accordingly.
The consolidation of railroads caused a huge debt problem. It forced the railroads to compete for business crookedly. Farmers were not treated fairly and were discriminated against. When the farmers went to the government for help, rate discrimination was initially outlawed and upheld by the Supreme Court however, the Court ruled that the states could not regulate interstate commerce. Then, congress passed the Interstate Commerce Act, a law that banned discriminatory short-distance rates, as well as other activities. Again, the railroads challenged this law and had it nullified. Finally, the Hepburn Act passed in 1906, which strengthened the ICC and empowered the commission to set rates.