determine the ways to profit from a venture that should be shared. Capitalism • Private property rights the basis production‚ trade‚ and distribution of goods and services. • Capitalist have many negative overtones because of industrialist like Rockefeller and Carnegie. • Proletariat is the new working class‚ the vast‚ faceless mass of laborers who work for subsistence wages. • Trade unions and class systems were developed. Commerce • The hierarchy of authority evolved early to reduce the transaction
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Chapter 18 Section 1 By the mid-1850s the California Gold Rush had ended. Disappointed miners‚ still hoping to strike it rich‚ began prospecting in other parts of the West. In 1858 a mining expedition found gold on the slopes of Pikes Peak in the Colorado Rockies. In 1859 several prospectors found a rich lode of silver-bearing ore on the banks of the Carson River in Nevada. The discovery was called the Comstock Lode after Henry Comstock‚ who owned a share of the claim. The gold strikes created
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Many important factors helped to promote America’s huge industrial growth during the period from 1860 to 1900. Before the blossom of this industrialization‚ the United States consisted of mostly farms and small towns. The development of factories and urban cities soon changed all of this. The railroad system expanded and eventually turned into a goldmine for commerce in the United States. Machinery started to decrease the amount of animal labor used‚ which allowed the consistency and production of
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this time. Big companies would force workers to work long days for very little pay. Many immigrants did not know this before going to work for these companies. This would make the company’s rich‚ but the workers were poor. This practice was used by Carnegie. He would work his workers 12 hours a day. He only gave his workers a day off once a year‚ on July 4th. A lot
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in great length and detail about Huey Long and Father Coughlin‚ who were extremely influential politicians‚ and their opposition to the new society of big business and high technology. They felt that the owners of large companies such as Rockefeller‚ Carnegie and Pullman were to blame for the financial woes of the United States. Long and Coughlin were successful in taking their arguments and beliefs to the American people in the 1930’s. Huey Long was an energetic‚ passionate young man at a very
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the end‚ he owned over 40% of trail lines‚ symbolizing his power. A forthcoming competitor‚ John D. Rockefeller‚ was making his name in oil refinery. His Standard Oil knocked Vanderbilt off his title as the richest man. This ruthless corporation supplied tons of homes with kerosene lighting‚ built 40‚000 miles of oil pipelines‚ and stunned top competitors. One of whom was Andrew Carnegie. Carnegie‚ investing everything‚ gains millions by producing steel. This introduced a new way to build homes
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interest rates and restricted the availability of credit • Jay Gould‚ Collis P. Huntington‚ James J. Hill • Interstate Commerce Act and Interstate Commerce Commission‚ 1887 • J. Pierpont Morgan • Andrew Carnegie • John D. Rockefeller and Standard Oil • Sherman Anti-Trust Act‚ 1890 • United States v. E. C. Knight Co.‚ 1895 • Thomas A. Edison • Henry W. Grady and the "New South Creed" • William H. Sylvis and the National Labor Union • Terence V. Powderly
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goods by railroads‚ and workers placed under bad conditions. Industrial giants were people who wanted to become rich. Most of them started off poor with little money if not‚ no money at all. One industrial giant who started off poor was Andrew Carnegie who hired many employees‚ which decreased unemployment
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exemplified by David A. Wells‚ “...the people who work in the modern factory are‚ as a rule‚ taught to do one thing—to perform one‚ and generally a simple operation; and when there is no more of that kind of work to 1 George Rice‚ “How I Was Ruined by Rockefeller‚” New York World‚ October 16‚ 1898. do‚ they are in a measure helpless.”2 Furthermore‚ as Wells
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Thirteenth Amendment * The Thirteenth Amendment to the United States Constitution outlaws slavery and involuntary servitude‚ except as punishment for a crime. It was passed by the Senate on April 8‚ 1864‚ by the House on January 31‚ 1865‚ and adopted on December 6‚ 1865. On December 18‚ Secretary of State William H. Seward proclaimed it to have been adopted. It was the first of the three Reconstruction Amendments adopted after the American Civil War. Fourteenth Amendment * adopted on July
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