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Slide 1
Slide 2
Between The Civil War and World War I, corporations replaced
the family-owned business as the main form of business
organization
Slide 3
Type of business that raises capital or money through stale of
stock Stock shares of ownership of a corporation Stockholder part
owners of a corporation Advantages Sale of stock can raise large
amounts of money Liability is limited the corporation is liable for
the business actions, not individual owner
Slide 4
Made large-scale steel production possible Cheap and practical
way of making steel Developed in 1857 by Henry Bessemer also
claimed by William Kelly of Kentucky When patents combined in 1866,
the Bessemer process became widely used Made possible the
construction of skyscrapers
Slide 5
Perfected the incandescent light bulb for homes and commercial
use Holds 1,093 patents (1879) Other inventions include Phonograph
(1879) Motion picture camera (1891) Founded General Electric
Slide 6
Nicknamed the Wizard of Menlo Park This is where the first US
Industrial research laboratory founded by Edison was located (Menlo
Park, NY)
Slide 7
Attributed with invention of the telephone Alexander Graham
Bell Alexander Graham Bell
Slide 8
On December 17, 1903, Orville Wright piloted the first
successful powered airplane 20 feet above a wind- swept beach in
North Carolina. The flight lasted 12 seconds and covered 120 feet.
Three more flights were made that day with brother Wilbur piloting
the record flight lasting 59 seconds over a distance of 852
feet.
Slide 9
First use of the conveyor belt assembly line in automobile
production Introduced December 1, 1913
Slide 10
Carnegie Steel Company Revolutionized steel production in the
United States Used technology and methods that made manufacturing
steel easier, faster and more productive. Would later focus on
philanthropy (Carnegie- Mellon University, Public Libraries)
Andrew
Slide 11
Founded JP Morgan & Co. (Banking & Finance) (after
consolidation and growth now known as JP Morgan/Chase) Helped
consolidate railroads Formed United States Steel (1901)after
purchasing from Carnegie Even helped government through several
financial crises JP Morgan
Slide 12
Co-Founder of Standard Oil Company At one time controlled 90%
of the oil in the United States Americas first billionaire
Rockefeller Rockefeller
Slide 13
Railroads and shipping Vanderbilt Vanderbilt
Slide 14
1) Laissez Faire government policy 2) Labor supply growth
because of immigration and migration of Americans from South to
North 3) Wealth of navigable (deep enough for boats) rivers and
natural resources
Slide 15
Scottish Philosopher Adam Smith wrote An Inquiry into the
Nature and Causes of the Wealth of Nations in 1776 Introduced the
concept of laissez faire - the theory that government should not
interfere in economic affairs leave business alone to operate
However the US Government did NOT follow a strict laissez faire
policy because they passed laws/policies that help business
Slide 16
Protective tariffs Land grants for railroads
Slide 17
Labor supply in American Cities increased during 1865 and World
War I Tens of thousands of immigrants came to the United states
Native-born Americans moving from farms to American cities
Slide 18
During late 19 th and early 20 th century, racial
discrimination increased in the United States.
Slide 19
Passed by Southern legislatures Provided for racial segregation
separation of the races By the early 20 th century, the South is
not only segregating, they denied most African-Americans the right
to vote
Slide 20
Racial prejudice against African-Americans was apparent in acts
of intimidation used by Southern whites including lynching hanging
without a trial.
Slide 21
Because of racial discrimination and extreme poverty many
Southern African- Americans began to move to Northern Cities.
Called the Great Migration Speeded up during WWI because thousands
of white males enlisted in the US Army during World War I
Slide 22
Supreme Court ruled that racial segregation in public
facilities was constitutional as long as separate but equal
facilities were provided Set a legal precedent for racial
segregation in all areas of southern life. Facilities seldom
equal
Slide 23
A major setback African-Americans had hoped the nations highest
court would overturn Southern laws that would respect the intent of
the 14 th and 15 th amendments.
Slide 24
Founded Tuskegee Institute in Alabama Believed the way to
African-American equality was through vocational education and
economic success. Said that once blacks made gains economically,
Southern whites would be willing to extend social equality
Slide 25
First person of color to be granted a PhD from Harvard
University Sociologist, Professor and Critic of Booker T.
Washington Wanted immediate political equality for
African-Americans Said they would remain powerless as long as they
were denied the right to vote
Slide 26
With others founded NAACP National Association for the
Advancement of Colored People Worked to gain legal rights for
African- Americans
Slide 27
Also co-founded NAACP Led an anti-lynching crusade and called
on the federal government to take action
Slide 28
1) Small number of Americans made tremendous fortunes 2) Raised
the American standard of living 3) Workers organized national labor
unions 4) Clashes occurred between industry and labor
Slide 29
Dangerous working conditions Use and abuse of child labor and
women workers Factory workers faced long hours, low wages, little
job security and no benefits
Slide 30
Often lived in company towns - renting houses owned by
employer, shopping at stores owned by employer
Slide 31
Union an organization of workers that tries to gain higher
wages, improve working conditions and better employee
benefits.
Slide 32
First important labor union in America Destroyed by the
Haymarket Square Riot violent altercation in Chicago in 1886
between workers and police