THE GILDED AGE 1877-1896Chapter 16

Rise of Industrialism

INDUSTRY AND INVENTION

WHY DID AMERICAN INDUSTRIAL GROWTH OCCUR?

1. Population increases – baby boom & immigration

2. Innovative spirit – new machines and methods

3. Government sympathetic to industry – high tariffs, cheap labor market from immigration

4. New sources of power – oil and electricity

ROBBER BARONS OR CAPTAINS OF INDUSTRY?

Student mini-presentations Vanderbilt Hill Carnegie Rockefeller Duke Heinz

VERTICAL AND HORIZONTAL INTEGRATION Vertical – one company is involved in

EVERY aspect of an industry from raw materials to market.

Horizontal – one company completely controls ONE aspect of an industry

Examine the graphic on page 337.

GILDED AGE INVENTIONS

Alexander Graham Bell Thomas Alva Edison

POLITICAL REFORM & REACTION

SPOILS SYSTEM Elected officials appoint and hire their

friends to government positions. Corruption & Scandals

LABOR, RURAL, ECONOMICS

Child labor cartoon Free Silver and the “Cross of Gold” Demonstration of gold

standard/inflation. Farmers

STANDARD OIL TRUST