Chp. 17: Industrial Supremacy

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I.M. Singer and Company founded

1851

one of the first modern corporations, Isaac Singer patented a sewing machine

1st oil well drilled

1859

Edwin L. Drake, one of George Bissell's employees, established 1st oil well near Titusville Pennsylvania. was soon producing 500 barrels/month

1st transatlantic cable laid

1866

National Labor Union

1866 - 1874

founded by William H. Sylvis, a polygot association, claiming 640,000 members, included a variety of reform groups having little direct relationship with labor. after panic of 1873, union disintegrated and disappeared

Open-hearth steelmaking begins in US

1868

introduced by NJ ironmaster Abram S. Hewitt from Europe, largely supplanted the Bessemer process. made possible the production of steel in great quantities and large dimensions

Knights of Labor founded

1869

created by Uriah S. Stephens. championed 8 hr workday, abolition of child labor. Terence V. Powderly made Knights public organization. disappeared in early 1890s after failed railroad strikes

Standard Oil founded

1870

founded by John D. Rockefeller, controlled access to 90% of refined oil in US, practiced horizontal (buying out refineries) and vertical (creating factories for pipes and barrels) integration

Commercial and financial panic

1873

Carnegie Steel

1873 - 1901

founded by Andrew Carnegie with business partner Henry Clay Frick. 1901 sold out to J.P. Morgan for $450 million

Telephone invented

1876

invented by Alexander Graham Bell

Nationwide Railroad workers strike

1877

began when eastern railroads announced 10% wage ut. US 1st major national labor conflict, illustrated how disputes could no longer be localized in the increasingly national economy

"Progress and Poverty"

1879

published by Henry George, tried to explain why poverty existed amidst the wealth created by modern industry, proposed a 'single tax' to replace all other taxes which would destroy monopolies, distribute wealth more equally and eliminate poverty

Electric Lightbulb invented

1879

invented by Thomas A. Edison

American Federation of Labor founded

1881

AFL, association of autonomous craft unions and represented mainly skilled workers. sought equal pay for men and women. supported better wages and working conditions. demanded 8 hr workdays and would strike if not achieved by 5/1/1886

Rockefeller creates 1st trust

1882

pioneered by Standard Oil but perfected by J.P. Morgan. Stockholders in individual corporations transferred their stocks to a small group of trustees in exchange for shares in the trust itself. Owners of trust certificates often had no direct control over decisions of trustees, simply received share of profits of combination.

Haymarket bombing

1886

bomb thrown in Haymarket Square in Chicago during strike at McCormick Harvester Company. bomb killed 7 officers and injured 67 other people, policed fired into crowd, killed 4 more people. 8 anarchists charged with murder, no one knew who threw the bomb

"Looking Backward"

1888

published by Edward Bellamy, described the experiences of a young Bostonian who went into a hypnotic sleep in 1887 and awoke in the year 2000 to find a new social order where want, politics and vice were unknown. labeled the philosophy behind this vision "nationalism", work inspired 160+ Nationalist Clubs

Workers strike Homestead plant

1892

Henry Clay Frick wanted Amalgamated union to disintegrate, cut wages 2x. when strike called,Frick called in Pinkerton Detective Agency to quell. 7/6/1892: Pinkertons approached plant, workers set fire to water. 3 guards, 10 strikers killed. governor sent 8000 troops to force production to continue at Homestead

Depression begins

1893

Workers strike Pullman Company

1894

company slashed wages by 25% but did not decrease rent in model town which was 25% higher than other areas.

American Socialist Party founded

1901

created by a dissident faction of 1870s Socialist Labor party

United States Steel Corporation

1901

created by J.P. Morgan, merged Carnegie's interests with others to create the $1.4 billion corporation, controlled 2/3 of nation's steel production

Spindletop oil field discovered

1901

Texas

1st successful flight

1903

Wilbur and Orville Wright constructed glider that could be propelled through the air by internal combustion engine (the same kind propelling automobiles). In 1st flight (Kitty Hawk, NC), airplane took off by itself and traveled 120 feet in 12 seconds under own power. by 1904 they improved plane where they were able to fly over 23 miles.

Women's Trade Union League founded

1903

founded in response to exclusion from AFL

1st automobiles produced

1906

produced by Henry Ford

"Folkways"

1906

published by William Graham Sumner, individuals must have absolute freedom to struggle, to compete, to succeed, or to fail. Agreed somewhat with Herbert Spencer and theory of social Darwinism