Chapter 6:Chapter 6:The Triumph of IndustryThe Triumph of Industry

VocabularyVocabulary

17 Identifications17 Identifications

Edwin DrakeEdwin Drake

Part I: 1859-Drake drilled the first Part I: 1859-Drake drilled the first oil well near Titusville, oil well near Titusville, Pennsylvania.Pennsylvania.

Part II and III on your own.Part II and III on your own.

Samuel F.B. MorseSamuel F.B. Morse

Perfected telegraph Perfected telegraph technology.technology.

Alexander Graham BellAlexander Graham Bell

Invented the telephone, revolutionizing Invented the telephone, revolutionizing both business and personal both business and personal communicationcommunication

In 1877 he organized the Bell Telephone In 1877 he organized the Bell Telephone Company which eventually became the Company which eventually became the American Telephone and Telegraph American Telephone and Telegraph Company (AT&T).Company (AT&T).

Thomas EdisonThomas Edison

Most famous inventor of the late 1800sMost famous inventor of the late 1800s Had a research lab at Menlo Park, NJ, which would Had a research lab at Menlo Park, NJ, which would

become the forerunner of the modern research lab.become the forerunner of the modern research lab. Inventions included the phonograph, the light bulb, Inventions included the phonograph, the light bulb,

the electric generator.the electric generator. 1882-the Edison electric Illuminating Company 1882-the Edison electric Illuminating Company

launched a new industry and began the launched a new industry and began the transformation of American society when it began transformation of American society when it began to supply electricity to customers in NYC.to supply electricity to customers in NYC.

1889-Edison General Electric Company formed, 1889-Edison General Electric Company formed, which became General Electric (GE).which became General Electric (GE).

Bessemer ProcessBessemer Process

English Inventor, Henry Bessemer English Inventor, Henry Bessemer invented a new process for making high invented a new process for making high quality steel efficiently and cheaply.quality steel efficiently and cheaply.

Motivated Andrew Carnegie to concentrate Motivated Andrew Carnegie to concentrate his investments into the steel industry.his investments into the steel industry.

Laissez-faireLaissez-faire

Literal translation: French for “let do” Literal translation: French for “let do” meaning let people do as they choose.meaning let people do as they choose.

Supporters of laissez-faire believe the Supporters of laissez-faire believe the government should not interfere with the government should not interfere with the economy other than to protect private economy other than to protect private property rights and maintain peace.property rights and maintain peace.

Part II and III on your own.Part II and III on your own.

Andrew CarnegieAndrew Carnegie

Steel Industry; Carnegie Steel IndustrySteel Industry; Carnegie Steel Industry Cut his prices until he drove his competitors out Cut his prices until he drove his competitors out

of business, allowing him to control the steel of business, allowing him to control the steel industry.industry.

Controlled all aspects of the steel industry from Controlled all aspects of the steel industry from the mines that produced iron ore to the shipping the mines that produced iron ore to the shipping and rail lines necessary for transportation and rail lines necessary for transportation (vertical integration).(vertical integration).

Preached a “gospel of wealth”/ philanthropyPreached a “gospel of wealth”/ philanthropy

John D. RockefellerJohn D. Rockefeller

Standard Oil companyStandard Oil company As he made more money, he was able to As he made more money, he was able to

undersell his competitors.undersell his competitors. Created the idea of a “trust”; a new kind of Created the idea of a “trust”; a new kind of

monopoly.monopoly.

J.P. MorganJ.P. Morgan

American financier, banker and art American financier, banker and art collector who dominated corporate finance collector who dominated corporate finance and industrial consolidation during his and industrial consolidation during his time. time.

Social DarwinismSocial Darwinism

Based on Darwin’s theory of evolutionBased on Darwin’s theory of evolution Society should do as little as possible to Society should do as little as possible to

interfere with people’s pursuit of success.interfere with people’s pursuit of success. If the government would stay out of If the government would stay out of

business, those who were most “fit” would business, those who were most “fit” would succeed and become rich. Society would succeed and become rich. Society would benefit from the success of the fit and the benefit from the success of the fit and the weeding out of the unfit.weeding out of the unfit.

Part II and III on your own.Part II and III on your own.

Great Railroad Strike of 1877Great Railroad Strike of 1877

11stst nationwide labor protest nationwide labor protest Panic of 1873 forces many companies to cut wages.Panic of 1873 forces many companies to cut wages. July 1877, several railroad companies announce July 1877, several railroad companies announce

another round of wage cuts.another round of wage cuts. Railroad workers across the country walked off the Railroad workers across the country walked off the

job, and angrily smashed equipment, tore up tracks, job, and angrily smashed equipment, tore up tracks, and blocked rail service.and blocked rail service.

Many governors called out state militias to stop the Many governors called out state militias to stop the violence.violence.

President Hayes ordered the army to open the President Hayes ordered the army to open the railroad.railroad.

Haymarket Square RiotHaymarket Square Riot

1886-organizers organized a nationwide strike 1886-organizers organized a nationwide strike on May 1 calling for an 8-hour workday.on May 1 calling for an 8-hour workday.

On May 3 a clash between strikers and police On May 3 a clash between strikers and police left one striker dead in Chicago.left one striker dead in Chicago.

A meeting was organized in Chicago’s A meeting was organized in Chicago’s Haymarket Square to protest the killing.Haymarket Square to protest the killing.

When police entered the square, someone When police entered the square, someone threw a bomb. The police opened fire and threw a bomb. The police opened fire and workers shot back.workers shot back.

7 police officers and 4 workers were shot.7 police officers and 4 workers were shot.

The Pullman StrikeThe Pullman Strike

A strike of the American Railway Union of A strike of the American Railway Union of Pullman Cars that threatened to paralyze Pullman Cars that threatened to paralyze the economy.the economy.

Railroad managers attached mail cars to Railroad managers attached mail cars to the Pullman cars.the Pullman cars.

President Cleveland then sent in troops President Cleveland then sent in troops claiming that it was his responsibility to claiming that it was his responsibility to keep mail running.keep mail running.

Samuel Gompers/ AFLSamuel Gompers/ AFL

Samuel Gompers was the first leader of the Samuel Gompers was the first leader of the American Federation of Labor.American Federation of Labor.

Made up from over 20 of the nations trade Made up from over 20 of the nations trade unions.unions.

3 goals:3 goals:

gain recognition and collective bargaininggain recognition and collective bargaining

closed shops (only union members hired)closed shops (only union members hired)

8 hour workday8 hour workday By 1900 it was the biggest union in the country.By 1900 it was the biggest union in the country.

Sherman Anti-Trust ActSherman Anti-Trust Act

1890-Congress passed this law to outlaw 1890-Congress passed this law to outlaw any combination of companies that any combination of companies that restrained interstate trade or commerce.restrained interstate trade or commerce.

i.e. monopolies, trusts, etc…i.e. monopolies, trusts, etc… Proved ineffective against trusts, because Proved ineffective against trusts, because

the government rarely enforced it and the the government rarely enforced it and the law’s vague language made it hard to law’s vague language made it hard to apply in court. Also, the law was used apply in court. Also, the law was used against labor unions.against labor unions.

Socialism/ Eugene DebsSocialism/ Eugene Debs

An economic and political philosophy that An economic and political philosophy that favors public (or social) control of property favors public (or social) control of property and income, not private control.and income, not private control.

Socialists believe that society at large, not Socialists believe that society at large, not just private individuals should take charge just private individuals should take charge of a nation’s wealth. The wealth of a of a nation’s wealth. The wealth of a nation should be distributed to everyone.nation should be distributed to everyone.

Eugene Debs was an important leader of Eugene Debs was an important leader of the socialist party and labor organizer.the socialist party and labor organizer.