Ch. 6.2:
-What impact did railroads have on the US?
Brought nes opportunities like land, adventure, and a new start.
Building railroads brought a lot of jobs but very dangerous.
Started time zones in the US.
Large cities formed because of railroads.
-Why were many people upset with the railroads?
Angry farmers-government gave land grants to businesses instead of settlers.
Fixed prices to keep farmers in debt.
Made short trips cost more because there wasn't another carrier.
-What did the Grangers or government do to regulate the railroads?
Grangers-farmers that were getting angry with the railroads
Granger Laws-established maximum freight and passenger rates and prohibited discrimination.
1886-supreme court ruled that states couldn't regulate railroad costs.
Interstate Commererce Act-allowed the federal government to supervise railroad activities and formed an interstate commerce commisssion.
Ch. 6.3:
-Tell me about Andrew Carnegie.
In 6 years he workeed his way up to Private Secretary at the Pennsylvania Railroad Company.
Bought stock in the company then when he got enough he left.
Started Carnegie Steel Company: by 1899 manufacturing more steel than all the other factories in Great Britain.
-Tell me about John D. Rockefeller.
Established Standard Oil Company
Joined competing companies in trust agreements
Trust=monopoly
Nickname Robber Baron for bought out competion and then made people pay high prices because he was the only company that sold it
-What was Social Darwinism and how did it apply to business?
Social Darwinism-theory that success and failure in business was governed by natural law and no one had the right to intervene.
-Explain how companies formed monopolies(vertical/horizontal integration, trusts).
Monopoly-having all power in that type of business.
Vertical Integration-when a business buys out its supplies in order to control the raw materials and railroad.
Horizontal Integration-when companies producing similar products merge or get bought out by other companies
Trusts-when participants turn their stock over to a group of trustees-people who ran the separate companies as one of a large cooperation.
-How did the government try to regulate business?
Sherman Antitrust Act- made it illegal to form a trust that interfered with free trade between states or with other countries. (hard to enforce though)
-What are labor unions and what is their purpose?
Organizations that workers join.
Formed to protect workers from being underpaid and overworked
Now a days used to make sure everything is being done in the correct and same way.
Two types: Craft Unions and Industrial Unions
Craft-By certain skill/craft that each person does
Industrial-people of the same industry that do different things to organize together.
Were labor unions successful in achieving their goals? Explain/Give examples.
Many failed to strike successfully but added to the momentum of the unions organization
Industrail Workers of the World headed by William Haywood.
The great strike of 1877-workers of Baltimore and Ohio railroads stopped railroad action because they wanted more money and better hours and lasted about a week. Until President Rutherford B. Hayes got involved with federal troops to end it.
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