Key Period 6
Created by: Jonathon, Joanne, Steven, and David P.5
p. 651 Rockefeller
Came from a meager background and went on to create an oil empire. Organized the Standard Oil Company
Controlled 95% of all of the refineries in the U.S. He also organized the trust and started the Horizontal Merger.
p. 661 Morgan
A banker who financed the reorganization of railroads, insurance companies, and banks. Bought out Carnegie and started the United States Steel Corporation (1901).
p. 544 Carnegie
Carnegie Steel. Vertical integration. Strived toward reliable quality during all stages of construction. Eliminate the middle man.
Knights of Labor
Knights believed ordinary people needed control over the enterprises which they worked. They proposed to set up shops owned by employees, transforming America into a cooperative commonwealth. They sought to ensure equal work and equal pay for workers across America.
Open membership- disregarded race, gender, or employment (still excluded Chinese immigrants)
AFL- American Federation of Labor
"The New South"
Subsidies to Railroads
The Government promoted private companies to construct railroads by providing loans, subsidies, and grants of public land. The government aid influenced a boom in railroad construction and railroad companies transformed American capitalism. They adopted a form of organization that allowed them to raise a larger amount of private capital.
Subsidies: a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
The Morrill Act reserved 140 million federal acres to be sold by states to raise money for public universities.
The land-grant college are schools made from the land given by the Morrill Act.
Its goal was to broaden educational opportunities and encourage technical and scientific prowess.
The Dawes Severalty Act (1887), created by Senator Henry L,. Dawes of MA and leader in the Indian Rights Association.
The act was an effort to assimilate Indians by division of tribal lands, which Dawes hoped would force natives to:
- hold individual landholdings
- partition reservations into homesteads
They thought when the natives held individual property it would lead to "a personal sense of independence" and yearn for more money.
A HUGE failure due to careless execution
- Whites coveted Indian land
- persuaded government to sell them unnecessary amounts of land
The Ghost Dance Movement: the Natives hopes that if they preformed sacred dances, the bison would resurrect and call a great storm to drie whites back across the Atlantic.
It was an example of the blending of cultures (syncretism) since the dances drew on Christian aspects as well as native ones.
Fearing another outbreak of war, the U.S. army massacred fleeing Lakotas and killed as many as 300 on December 29th, the Battle of Wounded Knee.