Had no party, John Adams was his VP for both terms. First President of the United States, set many precedents for how future presidents would behave. Extremely influential in the construction of the nation, big leader in the Revolution which is how he became the first president. Extremely modest as well, didn't want to be treated as a king or have things named after him.
1797 - 1801
Federalist, Jefferson was VP. It was Adams v. Jefferson in the election race. Adams was chosen for the Federalist candidate because Hamilton, the face of the party, was too controversial. Adams wasn't disliked, but also not necessarily liked. Adams defeated Jefferson by three votes, and Jefferson became vice president because the person with the second most amount of votes got president. Adams wasn't the most popular president ever, and is most famous for his role in the Quasi-War with France, the XYZ Affair, and the Alien and Sedition Acts, as well as his appointment of the Midnight Judges. The Alien and Sedition Acts in particular were so unpopular that Jefferson defeated him easily in 1800.
1801 - 1809
Democratic-Republican, Burr was VP for first term, Clinton VP for second. Stood for an agrarian America, strict constructionist, wanted to have stronger state governments, not a powerful central govt. This is demonstrated in the Virginia and Kentucky Resolutions, which said that if the states disagreed with a federal law, they could nullify it. Wrote the Declaration of Independence. He was a Francophile and encouraged the French Revolution. Probably the biggest decision he made in office was to buy Louisiana from Napoleon for $15 million in 1803.
1809 - 1817
Democratic-Republican, Clinton then Gerry for VP. President during the War of 1812, pretty much wrote the Constitution, followed in Jefferson's footsteps although he began his political career amicable to the Federalists
1817 - 1825
Democratic Republican, Tompkins was VP. President during the Era of Good Feelings, in 1820 ran unopposed because the Federalists had died and there was not yet a new opposing party. Famous for the Monroe Doctrine concerning Mexico and South America, although it was mostly written by JQA. Also President at the time of the Missouri Compromise, and the Panic of 1819
John Quincy Adams
1825 - 1829
Democratic Republican, Calhoun VP. Became president out of the "corrupt bargain" in which Clay, the presidential candidate with the least votes and the Speaker of the House, supported Adams for president when the election went to the House due to no one winning a majority. Because of this, Adams won the presidency. Adams supported Clay's American System and tried to institute it, but most of it was blocked by Jacksonians in Congress. He tried to send a delegation to a conference in Panama in 1826, but southerers in Congress opposed the idea of whites Americans mingling with black delegates and were able to postpone the decision so long that by the time the US delegation got there, the conference was over. He also instituted the Tariff of Abominations. Basically, his presidency was a huge failure.
1829 - 1837
Democrat, Calhoun, Van Buren VP. War hero from War of 1812--defeated the British at the Battle of New Orleans, although it made no impact on the war itself. He is most remembered for the Trail of Tears and his Bank Wars
Martin Van Buren
1837 - 1841
Democrat, Johnson VP. Known as Van Ruin, as he was president during the Panic of 1837. Wasn't extremely admired or anything, just tried to ride on Jackson's coattails, which he kinda failed at
1841 - 1845
Whig, no VP. Pretty effective as a president, made Texas a state, took office after Harrison died. Made the Whigs angry because he had been a party-switcher, and once in office he revealed that he never really stopped being a democrat, and made non-Whig actions. He only made Texas a state when it was obvious that Polk was going to do it and just to spite him he pushed it through Congress in the last days of his presidency.
William Henry Harrison
Whig, Tyler VP. Ran on the campaign of "Tippecanoe and Tyler too!" and showing himself as a rustic log cabin lover, won the election, but on the day of his inauguration, it was raining, and he got pneumonia and died 40 days after
James K. Polk
1845 - 1849
Democrat, Dallas VP. Disliked because he instigated the Mexican War, which many thought could have been avoided easily. Also just disliked in general. He won the election because he wanted Texas in the Union, but Tyler got Texas to be a state just before leaving office, so now his election platform was kinda empty...
1849 - 1850
Whig, Fillmore VP. A Mexican War general, didn't do much before he died.
1850 - 1853
Whig, no VP. Took over after Taylor died, didn't do a ton, although he was president when the Gadsden purchase was made. Not the most memorable president ever.
1853 - 1857
Democrat, King VP. Has the title of "Worst President Ever" according to some, mainly because he didn't do anything at all during his administration.
1857 - 1861
Democrat, Breckinridge VP. Not important
1861 - 1865
Republican, Hamblin, Johnson VP. Greatest president our nation has ever seen according to many, a great leader because he tried to compromise as much as possible but would not compromise on the most important things. Although he opposed slavery, he believed that blacks were inferior to whites. He also had great strategy throughout the Civil War, as he knew the measures necessary to keep the Union on track, such as witholding the Emancipation Proclamation until 1863, and then declaring it as a war measure only. In his election, Lincoln was not elected in any of the Southern states, yet still gained the presidency, which is much of the reason why the Deep South seceded. Unfortunately, his awesomeness got ended when he was shot by John Wilkes Booth, and shortly after his second inauguration.
1865 - 1869
Democrat, no VP. Possibly the worst president ever; the first to be impeached for not letting people do anything basically--he vetoed every measure Congress tried to put through. He also had a vendetta against the Southern planter aristocracy, so he issued a blanket pardon for everyone except the Confederate leaders and those with over $20,000, who had to apply for individual pardons. However, he also wanted to be like the rich planters, so he then tried to suck up to them, and his Reconstruction policy became basically restoring how things were before the war, sans slaves. Because of his incredibly lenient policy, Congress finally decided to intervene and do a different Reconstruction.
Ulysses S. Grant
1869 - 1877
Republican, Colfax, Wilson, VP. While he was a great Civil War general, Grant was not the most amazing president. He oversaw the end of Reconstruction and it is said that with the end of his term came the end of Reconstruction. He was not very significant though.
Rutherford B. Hayes
1877 - 1881
Republican, Wheeler VP. Did nothing--Business was the major thing going on, not much politics, and the two parties were very similar. In his election, neither he nor his opponent Samuel J. Tilden was able to win enough electoral votes to be declared winner, so a special electoral commission, with a Republican majority, declared Hayes the winner of the three contested states. Democrats protested but the party leaders reached an informal compromise (Compromise of 1877) and Hayes became president. In return for the presidency, Republicans ended Reconstruction leaving the Democrats to rule the South. The man's shining moment? He sent federal troops to suppress the Great Railroad Strike of 1877 oooh
Chester A. Arthur
1881 - 1885
Republican, no VP. Did nothing--Business was the major thing going on, not much politics, and the two parties were very similar. "My God, Chet Arthur in the White House!" Championed the Pendleton Act, lowered tariffs
James A. Garfield
Republican, Arthur VP. Did nothing--Business was the major thing going on, not much politics, and the two parties were very similar. The most important thing he did was get shot 4 months into his presidency
1885 - 1889
Democrat, Hendricks VP. Did nothing--Business was the major thing going on, not much politics, and the two parties were very similar. However, he was the only democrat to be president during the Gilded Age and thus was slightly different. He was also the only president ever to serve two non-consecutive terms. He advocated lower tariffs, arguing that high tariffs placed an added burden on American consumers. He mainly won the presidency because mugwump Republicans abandoned Blaine. Created the ICC (Interstate Commerce Commission) which challenged the power of big business.
1889 - 1893
Republican, Morton VP. Did nothing--Business was the major thing going on, not much politics, and the two parties were very similar. Fun fact-he's the grandson of William Henry Harrison! 1809 he signed into law the highest tariffin the nation's history, which punished Republicans in the midterm elections. He also signed the SHERMAN ANTITRUST ACT! YAH that crazy thang! 1809. Turns out the American people didn't actually like high tariffs because they didn't invite Harrison back for a second term. They also didn't really like the Republican support for what would become Prohibition.
1893 - 1897
Democrat, Stevenson VP. Did nothing--Business was the major thing going on, not much politics, and the two parties were very similar. Second time around, woohoo! Only guy to do that...anyway, Cleveland got a second chance..and then the economy kinda screwed it up for him because for the first time since the Civil War or something the economy went down, lots of things went bankrupt and people lost their jobs :( One of the reasons for this was the inadequate amount of currency in circulation, so teh money supply couldn't grow as the economy expanded. According to the Mint Act of 1972, there was free and unlimited coinage of gold and silver with a 15:1 ratio, but they changed it to only gold in 1873. So that didn't help either. This led to gold and silver being a big issue in the election of 1896.
1897 - 1901
Republican, Hobart, Roosevelt VP. In his campaign, McKinley appealed to banking and business interests by promising to keep the country on the gold standard. He won, and it devastated the Populist Party which then kinda died. The positions of the two parties in this election shaped how they would be in the twentieth century. Led the nation to victory in the Spanish-American War, kept to the gold standard, raised protective tariffs to help trade, lots of economic growth during his presidency, later shot. He also conducted a Front Porch Campaign while William Jennings Bryan toured the nation
1901 - 1909
Republican, none, Fairbanks VP. TR was the first strong president in the White House since Lincoln, and was the big progressive president. His domestic agenda was known as the Square Deal, and he championed the cause of conservation of natural resources and came to be known as the "trust buster". In the anthracite coal strike in 1902, his approach to public issues was revealed. He called representatives from both management and labor to the White House and threatened to take over the mines if owners didn't negotiate in good faith. He strengthened the ICC with the Elkins Act and Hepburn Act. He saw the concentration of economic power in the hands of few as dangerous to the economy so he set out to bust the "bad trusts" or the ones that interfered with commerce. In an attempt to help with conservation of natural resources, TR set aside tracts of land, including 6 national parks.
William Howard Taft
1909 - 1913
Republican, Sherman VP. Taft was handpicked by TR to be the next president, but he disappointed. He was in some ways more progressive than TR--he busted twice as many in one term as TR had in two. He agreed to higher tariff rates despite the fact that Progressives wanted to lower tariffs. TR quickly regretted his decision, and decided to run again in 1912, but couldn't win the Republican nomination so he created the Progressive or Bull Moose Party, but still lost. He's also famous for being the fattest president :-o
1913 - 1921
Democrat, Marshall VP. Second Democrat since Jackson, and the first Southerner to be President since 1844. He was an idealist which played hugely into his presidency. Pushed through the Federal Reserve Act which created the Federal Reserves in 1913, which were partly privately controlled and partly publicly controlled. He was a supporter of small business and strengthened antitrust powers of the federal government with the Clayton Antitrust Act. He is most remembered for his role in WWI--he emphasized the principle of freedom of the seas, and decided that the US would trade and sell weaponry to either side in the conflict, but Britain blockaded Germany, so the US ended up only trading with Britain. When running for reelection, his slogan was "he kept us out of war". However shortly after being reelected he became convinced that the US must enter the war to keep the world "safe for democracy". With the Zimmermann Note the US decided to enter WWI. Following the conclusion of WWI, Wilson put forth the Fourteen Points, meant to create a lasting peace throughout the world. The most notable of the points and the only one to actually be put in the Treaty of Versailles was the League of Nations, a coalition to help nations solve disagreements peacefully. He was also one of the Big Four in the treaty negotiations (others were Clemenceau, Lloyd George, and Orlando).
Warren G. Harding
1921 - 1923
Republican, Coolidge VP. Harding was elected on the campaign of a "return to normalcy" (get away from experimenation of Progressives and internationalism of WWI) and was generally unknown before he ran for president. He himself was not corrupt but almost his whole administration was. His presidency is mostly known for the Teapot Dome Scandal. He said he knew he was not one of the greatest presidents but he hoped he was one of the best loved. In 1923 he died of a heart attack, leaving his VP to take over
1923 - 1929
Republican, none, Dawes VP. Coolidge was kinda the opposite of Harding--while Harding was a bit of a party animal and very jovial, Coolidge was quiet and kept to himself, taciturn. His administration had zero traces of scandal. He was portrayed as a simple, rural man from his upbringing, although he was more comfortable around suits and executives. He had a philosophy of nonintervention in the economy, and lowered taxes and blocked congressional initiatives.
1929 - 1933
Republican, Curtis VP. Hoover had been head of the Food Administration during WWI, and when he ran for president, he was elected and very happily received. However, his whole philosophy was that it is volunteer organizations, and not the government that should help national problems, so it didn't work out too well for him when the Great Depression hit. He did the Hawley-Smoot Tariff which raised tariff rates on goods imported into the US a lot, making other nations create retaliatory tariffs--this didn't help the depression. Rugged individualism--the depression could be best solved by the determination and resolve of the American people, and when they couldn't help themselves, the volunteer thing.
Franklin Delano Roosevelt
1933 - 1945
Democrat, Garner, Wallace, Truman VP. Only man to be elected to four terms/more than two terms. Pretty awesome with the whole New Deal thing, although he is popularly thought to have brought the country out of the depression, its worst years actually occurred during his second term. The Depression ended when the US entered WWII, which FDR was an exemplary leader in, and part of the Big Three (him, Churchill, and Stalin)
Harry S Truman
1945 - 1953
Democrat, none, Barkley VP. Truman took over after the death of FDR shortly into his fourth term. He made the decision to drop both atomic bombs, and led the US in the beginning of the Cold War with the USSR. He was also an early supporter of civil rights who banned segregation in the military, but felt he couldn't go too far because he would lose the support of southern Democrats. He also did the Truman Doctrine, which proclaimed the US's intention of containing communism and helping any nation that voiced it's intention of doing the same.
Dwight D. Eisenhower
1953 - 1961
Republican, Nixon VP. Eisenhower had been Supreme Commander of the Allied Forces during WWII, so he was pretty popular when he ran for president. He won in a landslide against Adlai Stevenson. He ended the Korean War using threats of nuclear weaponry. He was also the one to first articulate the Domino Theory, and was all about scaring the USSR into compliance. Domestically, he was pro-civil rights, but felt that government intervention would set the movement back instead of propelling it forward so it was only reluctantly that he acted in the Little Rock case in 1957. He only freely desegregated in government realms, such as the military which was one of the first things he did in office. He also appointed Earl Warren as Chief Justice, which was pretty helpful for civil rights. He was the first non-New Dealer in a while.
John F. Kennedy
1961 - 1963
Democrat, Johnson VP. Kennedy was the youngest president ever and the first Catholic. His election was the first to be televised, which probably helped him win the presidency because he looked so much better compared to Nixon. The election turned out to be one of the closest in history but Kennedy won. He instituted the Peace Corps in 1961 as a way to help underdeveloped nations. Shortly into his presidency was the Bay of Pigs Invasion which was a fiasco, but then in 1962 was the Cuban Missile Crisis, in which JFK's all-around awesomeness proved to be a lot. He also announced the US goal of landing a man on the moon by the end of the decade in 1961 and beating the USSR there--it ended up happening in 1969, but at the time of the announcement, it was a ludicrous goal. On November 22, 1963, JFK was shot by Lee Harvey Oswald while in Dallas, TX. (And btw, it seems like no one in the Kennedy family is that good at staying alive other than Ted)
Lyndon Baines Johnson
1963 - 1969
Democrat, none, Humphrey VP. Johnson took office following Kennedy's assassination. He was a pretty good president, but by the end of his term he was hated by the majority of the American populace due to his actions in the Vietnam War. Following his election in 1964, he proposed a plan called the Great Society which would eliminate poverty in America. It included the development of Medicare and Medicaid, welfare programs, and public housing, in addition to other initiatives. He probably would have won reelection until the Tet Offensive occurred in 1968, and public approval went way down.
Richard M. Nixon
1969 - 1974
Republican, Agnew, Ford VP. Nixon cut back on all the Democratic progress made in the last eight years and really since FDR. He represented the beginning of a comeback for conservatism, which had been pretty dead since FDR was elected. The Democrats were also really unorganized in the election because LBJ called it quits in February, and Robert Kennedy would have been the nominee but he got shot in the summer so no one knew who the Democratic nominee would be--it ended up being Hubert Humphrey, LBJ's VP. Nixon was elected on the idea that he would end the war in Vietnam, although he did not end it until 1973, and really 1975. He also was a bit all over the board in terms of conservatism and liberalism. He was conservative, but put through the EPA and Clean Air Act, and appointed Chief Justice Warren Burger who was thought to be conservative but then turned out to be liberal. Nixon pursued the policy of Vietnamization and led the US through the Arab Oil Embargo. However, his presidency will always be remembered and marked by the Watergate scandal, which he was not a part of, but was informed of it a few days following the robbery and then proceeded to go to great lengths to keep it hushed up--"The cover up is worse than the crime"
1974 - 1977
Republican, Rockefeller VP. "I am not a Lincoln, but a Ford" His whole thing was healing the country from the wounds of Watergate, so one of his first acts was to pardon Nixon. However, this backfired on him as it turned out Americans wanted to see Nixon suffer for his crimes. It didn't work out that great for Ford in the end.
1977 - 1981
Democrat, Mondale VP. People wanted a small town guy who wasn't involved in politics after the whole Nixon thing, so they chose Carter, a Georgian peanut farmer. However, his small-townness was exactly what didn't help him, because he didn't really know what would be best to do, so his administration was basically a bunch of mishaps.
1981 - 1989
Republican, HW Bush VP. The awesomest Republican of the modern times! Reaganomics, and Star Wars is whatcha gotta know. Supply-side economics and putting a shield in space to deflect Soviet missiles. Yeah, that's totally gonna work out for you...
George H.W. Bush
1989 - 1993
Republican, Quayle VP. He was stiff and presidential in general, pretty well liked until Clinton came around. USSR collapsed and Berlin Wall fell during his presidency, so Americans were pretty happy about that. The Persian Gulf War also occurred under HW, which was okay. His death blow was his saying "Read my lips, no new taxes" and then he raised taxes. Oops.
1993 - 2001
Democrat, Gore VP. Clinton angered Republicans because as a centrist Democrat, he took on some issues and ideas that were generally seen as Republican things. He's also famous for giving the "I'll always remember you, and I care about you" look to voters. He was impeached in 1998 for getting blowjobs from Monica Lewinsky in the Oval Office (not a good choice Billy!). He tried to reform health care but it didn't work out that well for him. In 1993 he approved NAFTA, the North American Free Trade Agreement, which was controversial but promised global prosperity as more nations participate in the global economy. In 1994 he aggreed to GATT the General Agreement of Trade and Tariffs which seeks to encourage countries to participate in the global economy by reducing barriers to trade. Although it has existed since 1948, the 1994 agreement was more far-reaching. There were issues in Somalia that he helped sort out, reformed welfare, and let's face it we don't need to know much about our friend Billiam Jeffy Clinton the Third.
George W. Bush
2001 - 2009
Republican, Cheney VP. Iraq. Don't really need to know about him either.
2009 - 2017
Democrat, Biden VP. Well, the guy's important in modern day politics, and will obviously be important in the future for APUSH, but at the moment, what you already know about him is really all you need to know since he won't be on the test.
Thomas Jefferson (Democratic-Republican) triumphs over John Adams (Federalist); ties with Aaron Burr (D-R), wins election in House of Representatives. "Republican Revolution" leads to 12th Amendment--separate votes for President and Vice-President.
"Era of Good Feelings" election--James Monroe, a D-R, is uncontested.
John Quincy Adams loses the popular and electoral vote to Andrew Jackson--without a majority in electoral college, election goes to House of Representatives. Adams wins election--charges of "corrupt bargain" with Henry Clay fuel Jackson's next run.
Andrew Jackson (D) defeats JQA (National Republican)--beginning of Jacksonian Democracy
William Henry Harrison (W) "outjacksons the Jacksonians" and "Martin van Ruin"
"Dark Horse" candidate James K. Polk (D) defeats Henry Clay and oversees major period of American expansion
Abraham Lincoln (R) wins 40% of popular vote (180 electoral votes)--South Carolina secedes shortly thereafter, setting the stage for the Civil War
High Voter Turnout (80%)
1860 - 1900
Seward Dreams of an American Empire
1860 - 1900
Lincoln’s secretary of state who (once the Civil War ended) revived his vision of an America that would hold a “commanding sway in the world.” He believed that the US was destined to have commercial dominance over the Pacific islands and continents. He purchased Alaska from Russia in 1867 for $7.2 million. He acquired a coaling station in the Midway Islands near Hawaii which paved the way for expansion in Korea, Japan, and China. Advocated for the annexation of Cuba and other islands in the West Indies. Tried to negotiate a treaty for the building of a canal through Panama. He dreamed of American “control of the world” (a bit Hitler-esque don’t you think)
Crime of '73
Government stopped coining silver because market value of silver was higher than government mandated ratio
In 1870s, new discoveries of silver meant that market value fell below 16:1
Holders of silvers would benefit from coinage at this ratio
Silver-mine owners and farmers seeking currency inflation sought to overturn the crime of 73
Specie Resumption Act
After Civil War, debated whether fed govt should continue to circulate paper money it issued during the war, passed the act which gradually retired greenbacks from circulation and set gold as the standard. As large supplies of silver were discovered, Congress was pressured to coin silver. In 1878 as part of a compromise, the Treasury "was required to buy between 2 million and 4 million $ of silver each month and coin it as silver dollars"
Rutherford Hayes (Republican) captures disputed electoral votes in the Compromise of 1877, leading to the end of Reconstruction
Business is more important than Politics
1876 - 1901
until Teddy Roosevelt; Americans "mistrusted organized power and believed in harmony of interests and laissez-faire." The two parties differed not in principles, but patronage. Elected presidents rewarded their followers with government positions. Party affiliation generally reflected interest in important cultural, religious, and ethnic questions; Republicans said "regulate moral life but not economic development" and were liked by Northeastern Yankee industrialists and Scandinavian Lutherans. Democrats "opposed government efforts to regulate morals" and were liked by white southerners and Irish/German Catholics. For a few years the Civil War and Reconstruction issues created party differences, but after 1876, the parties avoided taking a stance on almost all issues, making them evenly matched. Elections were won by small margins, and parties rarely had an overwhelming majority in the houses. The four issues prevalent during this time were the tariff, currency, civil service, and government regulation of the railroads. The tariff is the one thing parties took a stance on--Republicans wanted a high tariff to protect businessmen from foreign competition, while Democrats wanted a low tariff because "government is best which governs the least"; however, most politicians yielded to loval interests over party interests during tariff revisions.
1880 - 1884
Highest Voter turnout in the 1880 elections--men drawn by party parades, buttons, banners, etc. Urban bosses (machines) delivered the immigrant vote--they did numerous favors for immigrants such as handing out jobs, giving money for rent, fuel, and bail, and offering presents. Election of 1884 didn't have actual issues, mostly just insults--made chants about "Blaine! Blaine! James G. Blaine! Continental liar from the state of Maine!" or "Ma! Ma! Where's my pa? Gone to the White House, Ha! Ha! Ha!" Cleveland won because a Republican clergyman called the Democrats the party of "rum, Romanism, and rebellion.", a remark which backfired horribly.
James G. Blaine
The Secretary of State under Garfield who in 1881 sought to convene a conference of American nations to promote hemispheric peace and trade. His effort driven only by presidential ambition did result in the first Pan-American Conference eight years later.
Chinese Exclusion Act
1882 - December 17, 1943
Tensions within laboring ranks appeared most dramatically in anti-chinese campaign, and workers began to blame Chinese workers for economic hardships. The local hostility was expressed at a national level with the act; with support from the Knights of Labor, it prohibited immigration of Chinese workers for 10 years. It was extended in 1892 and made permanent in 1902; it wasn't repealed until 1943
Garfield's assassination fired up Congress enough to reform civil service by passing the Pendleton Act, mandating merit examinations for about 1/10 of federal offices
Interstate Commerce Act
Congress' response to the Wabash Case which prohibits rate discrimination in short and long hauls, requires railroads to publish rate schedules, and declares that rail rates must be reasonable and just
Had Republican control of both houses, so lost no time in passing legislation in five areas:
1. Pensions for Civil War veterans and their dependents.
2. Trusts--Although the Sherman Anti-Trust Act was vague and not really intended to break up big corporations, it was an "initial attempt to restrain large business corporations."
3. Tariff--McKinley's bill raised tariff rates to higher levels than ever before
4. Silver Coinage--Sherman Silver Purchase Act ordered the Treasury to buy 4.5 million oz of silver monthly and to issue Treasury notes for it.
5. Rights for blacks--both Republican bills failed. The elections bill proposed to ensure African American voter registration and fair elections. The second bill proposed to provide federal aid to schools in the South, mostly black, that did not receive fair share of local funds.
National American Woman Suffrage Association, and had three arguments for it:
1. Women needed the vote to pass self-protection laws to guard against rapists and unsafe industrial work
2. Political enfranchisement would further women's role in cleaning up immoral cities and corrupt politics.
3. Women would counteract the undesirable influence of illiterate male immigrants.
Sherman Anti-Trust Act
July 2, 1890
The Act prohibits business activities deemed to be anticompetitive (so trying to become a monopoly) and requires the government to inspect, etc. companies thought to be violating the Act. Today it is the basis of our antitrust ligitation, but many were unwilling to refer to it until Teddy Roosevelt's presidency.
Sherman Silver Purchase Act
July 14, 1890
The Act increased the amount of silver the government was required to buy and coin monthly to 4.5 million oz. This caused foreign investors to dump $300 million of their securities in the US. As gold left the country to pay for these securities, the nation's money supply declined, causing deflation. This caused depression
Election of 1892
Harrison, Cleveland, and James B. Weaver of the People's Party run. Cleveland wins with Democrat majority in both houses, focuses on tariff reform, but Senate weakens original proposal with result of Wilson-Gorman tariff of 1894
Creation of subtreasuries or warehouses where farmers could store crops as collateral until prices rose.
Direct election of senators
Regulation and later ownership of RR's, telephones, and telegraphs.
Government-owned postal savings banks, graduated income tax and currency inflation
William McKinley (R) defeats William Jennings Bryan (D & Populists)--end of Populists as a national party; "Cross of Gold" vs. "Front Porch" campaign; business interests vs. progressive interests.
Election of 1896
Depression caused the election to be a battle over currency. Populists emphasized silver issue and hoped the parties would nominate gold candidates, but the Democrats nominated WJBryan, a silverite. Republicans nominated McKinley, who was identified with the high tariff that bore his name. McKinley had a front porch campaign, which means he really didn't, while Bryan did the first cross-country campaign that is typical of today. McKinley still swept the election. The landslide victory broke the stalemate, but political participation declined greatly. Discoveries of gold in the Yukon and Alaskan Klondike increased Treasury deposits and helped stabilize the economy. McKinley rejected traditional views of the president, and instead of being passive, dealt directly with Congress and the press
Teddy Roosevelt's Presidency
1901 - 1909
Roosevelt revitalized the executive branch, reorganized the army command structure, and modernized the consular service, established Bureau of Corporation, appointed independent commissions staffed with experts, and enlisted talented and well-trained men to work for the government. He was known as a trust-buster; he directed his lawyer to file a suit to dissolve the Northern Securities Company, a giant RR monopoly; they won and then went to bust some other monopolies. He didn't force down the price of kerosene, cigars, or RR tickets, but his trust-busting breathed life into the Sherman Anti-trust Act and increased the role of govt as a regulator.
Newlands Act and National Reclamation Act
TR pushed the acts through Congress. Newlands created federally subsidized irrigation in arid states, and NRA set aside the proceeds from the sale of public land in sixteen western states to pay for the construction set forth by Newlands.
Eliminated the use of rebates by RRs, increased power of ICC
Created the Interstate Commerce Commission to investigate and enforce rates.
After San Fran earthquake, they wanted a dam on the valley/river thing. In the end, TR and Congress sided with Pinchot and a dam was built
Meat Inspection Act
Roosevelt was deeply disturbed by The Jungle, and used the public mood to manipulate the process to pass the act, which enforced some federal inspection and mandated sanitary conditions in all companies selling meat in interstate commerce.
TR's Square Deal
TR's domestic program based on 3 ideas; conservation of natural resources, control of corporations, and consumer protection, or the three C's. The Deal is aimed at helping middle class citizens and attacking plutocracy (rule by the wealthy) and bad trusts while protecting business from the most extreme demands of organized labor.
1909 - 1913
TR stepped down after 2 terms but soon regretted it even though his hand-picked successor became president. Taft was a bigger trust-buster than TR, busting more trusts than TR had in two terms. He supported the 8 hour workday and legislation to make mining safer and urged the passage of the Mann-Elkins Act in 1910. When Taft reversed many of TR's conservation policies, TR became infuriated and decided he would run again for president
Progressives successfully got the Mann Act prohibiting the interstate transport of women for immoral purposes, raised the age of consent for women, and made the Wassermann test for syphilis mandatory upon being issued a marriage license in 20 states
Strengthened the ICC by giving it more power to set RR rates
1910 - 1912
A plan which would involve lowering the tariff, creating a better banking system, and strengthening antitrust laws. He claimed that if these three things happened, monopolies would end and freedom would be restored. However, it had no plan for social justice reforms
1910 - 1912
TR's new idea for his campaign; A plan that would reform everything in American life except race relations. It involved the national government involving itself in many things, and a total rejection of laissez-faire ideals, but TR argued that they needed change and the federal government was the only way to get it done. It also included plans for social justice reform, including stuff about women!
Congress Establishes Children's Bureau in Department of Labor
Child labor reform became a pretty big topic; judicial opposition was a main factor preventing its national reform. This reform was partly unsuccessful because businessmen profited from child labor, and politicians and judges saw it as an individual matter
Election of 1912
Woodrow Wilson; Democratic nominee
Taft; Republican nominee
TR; lost Republican nomination, so created the Progressive parts, appealing to progressives from all over the country who had become frustrated with the conservative leadership in both major parties.
The campaign became a heated debate over political philosophy, the proper relationship of government to society in a modern age. TR thought govt should regulate business in stronger hands while WW emphasized limited govt with open competition.
WW won :D
States passed laws designed to extend democracy such as initiative and referendum laws allowing citizens to originate legislation and to overturn laws passed by the legislature. Recall laws allowed the people a way to remove elected officials. The 17th Amendment allowed for the direct election of US senators, rather than their appointment by legislatures.
1913 - 1921
WW recommended reducing the tariff to eliminate favoritism, freeing the banking system from Wall Street Control, and restoring competition in the industry. He opposed women's suffrage, arguing that the states should decide who could vote, and failed to support and anti-child labor bill. Also ordered segregation of blacks in several federal departments.
WW solution to controlling American corporations; prohibited a number of unfair trading practices, such as purchasing stocks in other corporations if this tended to reduce competition. The bill also exempted labor and agricultural organizations. Gompers hailed it as labor's "Magna Carta" but courts interpreted the provision so that labor unions remained subject to court injunctions during strikes despite the act.
Federal Trade Commission
Modeled after the ICC, with enough power to move directly against corporations accused of restriction competition.
Congress passed the 18th Amendment, prohibiting the sale, manufacture, and import of intoxicating liquor within the US. This mainly was able to go through because it was a one-party house and many men were away fighting the war or busy with war things
Diplomacy and Foreign Relations
A doctrine created in 1823 under President Monroe, that recognized the independence of Latin American nations from Spain. The Latin American Revolutions were modelled after the American Revolution, which was flattery. Additionally, America was developing lucrative trade with these nations and wanted to keep it. This doctrine was reactionary to the Quadruple Alliance. It stated that the Western Hemisphere was closed to further European colonization. The US would not interfere wit existing European colonies. The US would not interfere with internal European problems. Any attempt of h powers to intervene in the Western Hemisphere would be deemed dangerous. The significance of this was it inserted America’s importance in World Affairs, and it isolated Europe from the Western Hemisphere. In this chapter is is important because America wanted to get involved in world affairs and wanted to be influential
Commodore Matthew Perry Goes to Japan
In 1853 he was given a mission to go to Japan (Japan had a law saying that Japanese could not leave and foreigners could not enter). He was sent by the US to open ports for trade, refueling and repairing ship wrecked ships. He threatened war on Japan if they did not comply and he was successful in opening more ports. His trip to Japan was one of the reasons Americans began looking beyond the continent in order to expand
Grant Argues for the Caribbean
Said it was strategically and economically important, tried to get the Senate to annex Santo Domingo. However the opposition argued that annexation violated American principles of self-determination and government by consent, and the Senate rejected it.
1889 - 1954
Pan American Conferences, the periodic meetings of the independent republics of the Western Hemisphere. From 1889 to 1954, meetings were regularly held to discuss general topics of concern to the American republics. Typically aimed at fostering closer relations among the American republics in political, economic, and social affairs. Pan Americanism has sometimes included proposals for a political alliance or for confederation, but these efforts have gained little support. First Conference, The first conference was in 1890 Washington, D.C.; 18 countries represented, all of the then-independent American republics except Santo Domingo (now the Dominican Republic). (from How Stuff Works)
1891 - 1893
A strongly nationalist woman who became the Hawaiian queen in 1891. She promptly abolished the constitution, seeking to establish control over whites in the name of Hawaii for the Hawaiians. In 1893, fearful of the queen turning to Japan for political support, the US staged a palace coup with the help of US gunboats, marines, and sugar planters. They sought formal annexation of Hawaii under the Harisson administration. However, Cleveland came back into power for his second term and halted the movement.
Treaty of Versailles
November 11, 1918 - June 28, 1919
It took 6 months to debate the terms, Germans weren’t allowed to attend. Ended up having the League of Nations and a list of punishments for Germany; Germany was blamed for the war, had to make reparations by paying 6,600 million euros? for damage done during the war, had the army reduced by a lot (demilitarized), and lost territory in Europe
Original 13 Colonies Settled
1609 - 1776
Acquired by charters from England and expansion westward, cost nothing, began US civilization and got US recognized as an independent nation
Acquired through a treaty with Napoleon, cost $15 million. More than doubled American land mass, gave control of Mississippi River to the US, New Orleans as a new trade port, expansion of slavery into the west, eliminated Napoleon as a threat in North America
Adams-Onis Treaty, cost $5 million. Lost Spanish influence, fear of Spain trying to take American land
1845 - 1848
Treaty of Guadalupe Hidalgo, $15 million, Extended US land to Pacific Ocean, got Texas, California, and New Mexico
Treaty with England, cost nothing since it was an agreement. British agreed on border at the 49th parallel if Vancouver Island remained British--some Americans were unhappy with this and thought the border should be at 54'40', way up in Canada
Treaty with Spain, $10 million, Really important for building of railroads, which is why it was so expensive
It cost $7.2 million. Thought to be an arctic wasteland but actually had rich deposits of coal and oil
1868 - 1878
A country in the Caribbean that the US was interested in for its resources. Was a country in the process of revolution and revolted 1868-1878. It flared up again in 1895 and was attempted to be stopped by WEyler the butcher with 50,000 troops. The revolution appealed to the American spirit of democracy, and reinforced the the idea of America as protector of the weak. America had rallies for food and supplies for the Cubans. Acted as fodder for the Spanish-American war because the US got involved, the Spanish didn’t want them to, and the US were affronted by Spanish incivility.
Islands in the South Pacific where the US required a naval station (at Pago Pago) in 1878. They had to share the port with Britain and Germany. In 1889 American and German naval forces almost fought there but a typhoon wiped out both navies and ended the crisis.
New Management of RRs
Daniel McCallum hired to devise a system to make railroad managers and their employees more accountable, highlighting difference between small and big businesses--emphasized division of responsibility, flow of information
Economics before Civil War
Manufacturers mostly made textiles, clothing, leather products, processed agricultural and natural resources--afterwards, producer goods took prominence
US leading source of growth
Railroad Construction Encouraged
The government started promoting RR construction vigorously, and along with them Western Union or telegraph lines appeared all over the country--these encouraged mass production and distribution. The size and costs of RRs also made them the first American corporations
Pollution became more and more widespread as big businesses developed. In general, city life was disgusting, and additionally they deforested and made rivers so acidic all animals etc. died. :(
Led by Gompers, focused on immediate bread and butter issues; higher wages, shorter hours, industrial safety, and the right to organize. They didn't allow black workers in the union, became the dominant labor union in 1890
First Transcontinental Railroad Finished
Following this, a burst of RR construction started and four more TRRs were laid along with other RR's
Knights of Labor
Most influential union in 1880s, founded as a secret society, led by Powderly. Sought to secure to workers the full enjoyment of the wealth they create. The union had exclusive membership and potential power of great numbers. Haymarket riot was connected with them, started as a peaceful protest meeting connected with the lockout at the McCormick reaper works. When the police arrived to creak it up a bomb went off killing 7 of them.
Transition to Mass Production
Until now, most manufacturers depended on water power, but new anthracite coal deposits were opened and the price of coal fell, and the industry began to use steam. Eventually when Thomas Edison discovered how to capture electricity, it replaced steam
RR leaders establish Pools
1870 - 1880
these eliminated ruinous competition and created uniform rates or divided traffic--didn't work though because one always ended up breaking the agreement
1873 - 1879
Big Business Joins the American Family
By now, textiles, metal and machinery co.'s equalled RRs in size, and big business was part of the economy. Around this time incorporation became more popular as well
This was the first and most violent strike of the 19th century, the immediate response was that the owners reduced wages, and more than 100 people died before troops ended the strike. After 1876 strikes became pretty common, usually in an attempt to change conditions in the workplace. They changed because before they striked in the neighborhoods but now they occurred in the workplace.
1/5 of children in the US held a job between the ages of 10 and 14. They weren't even allowed to finish school because of the belief that by their tenth year children had enough knowledge and could go to work
Financing Economic Growth
1880 - 1900
The new developments required a lot of capital--however, British, French, and German investors saw RRs as good investments, and Americans began saving more for investment as opposed to consumption--stock was riskier than bonds which deterred buyers at first but JP Morgan popularized them and expanded the economy a lot
Managers offered to take off time limits and pay more for people who worked more, since they knew workers wanted and needed the money and would be willing to do two men's work for more pay; however, to their surprise the workers didn't want this option, and wanted to keep their 18 box limit even though there was the promise of more money
Republican protective tariff; issue contributed to heavy Republican losses in midyear election; it was probably high because they're republicans
By this time, women's willingness to work for low pay opened up jobs for them in office work, nursing, clerking, etc.-- however, they were still barred from higher jobs such as medicine and law
Carnegie put Frick in charge of the Homestead Steel Mill. Frick issued an ultimatum declaring that workers must accept wage cuts or be replaced. When they came to work the next morning the mill was surrounded by police and workers engaged in gun battle. The strike dramatized the length to which both labor and capital could go.
1893 - 1897
These two depressions show how the transformation of the economy was anything but smooth--these are also the first times widespread unemployment was seen, making them different from depressions before the Civil War. Manufacturers flooded markets during expansionary years and overproduced, then when the market was saturated sales and profits declined, and depression. In addition to the Sherman Silver Purchase Act, the depression was caused by farmers planting more when prices of foods went down, and Wall Street crashing when investors frantically sold their shares causing companies to fail for bankruptcy. This depression had huge effect, including reduction in gold reserves and confidence in the market, business bankruptcies, and massive factory closing. During this time, the upper class build multimillion dollar summer resorts and went to parties, while the mass demonstrations forced city authorities to open soup kitchens and erect places for homeless to sleep in. Cleveland responded poorly to the depression by repealing the Sherman Silver Purchase Act and focusing on tariff reform.
1893 - 1894
Debs, the founder of the ARU, faced crisis at the Pullman Palace Car Company--management controlled all aspects of worker's lives there, the depression worsened and the company cut wages and laid off workers, desperate pullman workers joined the ARU in 1894, Debs led ARU in sympathy strike in support of the striking Pullman workers, when president Cleveland ordered troops to crush the strike, violence escalated quickly, the defeat of the strike killed the ARU, causing unions to lose members--people wouldn't join because they found little in common with the people in the union (diverse people and interests).
Western Federation of Miners formed
Created when miners were replaced by machines in the mines and wages were cut, causing workers to go on strike; militiamen broke it up and the strikers were convicted.
Samuel Jones institutes 8 hour Work Day
Jones, a rags-to-riches man, instituted an eight-hour work day, provided a minimum wage of $2/day, gave out Christmas bonuses, and offered hot lunches. He was the precursor to 20th century industrial reform.
Rockefeller uses horizontal integration to control the oil market
was refining 84% of American oil
International Ladies Garment Workers Union established because women were not allowed in the AFL
By 1901, manufacturing has replaced agriculture as the leading source of economic growth in the US--this made New England and the Midwest more important to the country
Industrial Workers of the World or "Wobblies"
Coming in a bit later than the Knights and the AFL, the Wobblies were the radical component of labor groups, wanting to get rid of capitalism because it keeps the worker under foot, wanted to organize the working class, didn't like "the man", and kinda communist.
Chicago and San Francisco Fires
Although really the SF fire was an earthquake that caused a fire
Shirtwaist Workers' Strike
It was successful, but the victory was limited as numerous companies refused to accept the union's terms , causing women to go back to work amid still oppressive conditions.
Triangle Shirtwaist Fire
The fire broke out in a garment factory where hundreds of women died because of the lack of fire exits. Shocked by the fire, the state legislature appointed a commission to investigate working conditions. The investigation caused the state legislation to limit women's work to 54 hours/week, prohibiting labor by children under 14, and improving safety regulations in factories
Not a free-trade bill, but it did reduce the schedule for the first time in years. To compensate for the money lost by the reduction of the tariff, the Underwood Tariff imposed a modest rate of 1% on income over $4,000. It provided for 12 federal reserve banks and federal reserve boards appointed by the president, and created a flexible currency based on federal reserve notes that could be expanded or contracted as the situation required.
This time is similar to the Gilded Age
1970 - 2000
1776 - 1880
Begin date is a guesstimate
This term was coined in 1845 in John L. O’Sullivan’s Democratic review. It refers to the idea that the superior American institutions and culture give Americans a God-given right and even an obligation to spread civilization across the entire continent. This term was used as a justification for westward expansion and for American treatment of other cultures but it did not cause it.
1865 - 1900
US grew 2% a year but cities grew much quicker--and not due to a high birthrate, because women were having fewer children and the death rate for infants was twice as high in cities as the rest of the nation
1865 - 1920
Time is approximate
Progressives were intellectually influenced by the darwinian revolution, almost always middle class, part of a stats-minded, realistic generation, conducting surveys, writing reports, and documenting every conceivable problem, and they were optimistic about human nature, and believed change was possible.
1865 - 1900
Urban dwellers came from farms, rural areas, abroad--everywhere! Rural Americans moved because farming was declining and they could make more money in factories than as farmers, and city life was romanticized. Southern blacks were also attracted to the cities, mainly in the South, but were discriminated against
Farmers in South and MidWest formed Farmer's Alliances
1870 - 1892
Primarily concerned with loval problems, some members sought larger reforms that would replace competitive economy with cooperative system.
Notable for significant role played by women
1889-alliances created loose merger and issued Ocala demands, preview of more developed platform in 1890s
1892 met in Omaha to nominate JBWeaver, got 8.5% of vote
Industry rather than Commerce/Finance fuels Urban Expansion
1870 - 1900
1870 - 1880
National Grange of the Patrons of Husbandry
First major effort of farmers to organize to support their interest, primarily social/educational in early years, depression of 1873 caused members to form marketing cooperatives to allow farmers to bypass middlemen. Succeeded in controlling state legislatures for many Midwestern states in 1870s, but return of prosperity and overturning of Granger laws by Supreme Court caused rapid decline by end of 1870s
1875 - 1900
Slums disturbed people because there were so many people living in them, although the same cities had vast amts of wealth as well. By this time, central business districts had taken the place of houses, businesses, and small artisans--banks, shops, theaters, professional offices, businesses replaced them. Not many people lived downtown anymore, just worked and shopped there. At this time, the early 1800s pattern of living in which it was desirable to be close to the center of the city reversed itself to the way it is today--working class in the middle, wealthier farther out.
Gospel of Wealth
1880 - 1900
Frances Willard wanted to apply ethical principles of Jesus to economics, called a Christian socialist. She believed Christianity called for a cooperative social order designed to reduce inequalities of wealth--but for most, Christianity supported competitive individualistic ethics that justified the place of those on top. Carnegie celebrated benefits of better goods and lower prices resulting from competition, concentration of wealth in the hands of few was "not only beneficial but essential to the future of the race." The rich were obligated to spend some of their wealth on the poor--ideas based on Social Darwinism. Herbert Spencer was the main proponent of SD in the US, emphasized that poverty was the consequence of the struggle for existence and it was pointless to try to end it. It created scientific rationale for a "baffling social order". SD's also believed in superiority of Anglo-Saxon race, justified imperialism and race supremacy. Some questioned it, of course, helped people see that "social change was not as closed as the Social Darwinists claimed"
1880 - 1900
15 million came to US between 1860 and 1900 and about 3/4 of them stayed in the Northeast and in cities, eventually outnumbered American whites. Until 1880, mainly old immigration happened. Immigrants saw America as the golden land, and usually came to work, single men with few skills. Migration was heavy when industry needed lots of labor. Mexicans also added to the immigrants, but came in larger amounts later. Chinese came, mostly unskilled male contract laborers promising to work for a number of years, and had some of the worst jobs in the west.
Jane Addams builds Hull House
This house was meant to be a haven for women to grow, learn, advance, etc. But also could have been her coffeehouse that the textbook referred to, which she tried to make a substitute for saloons
1893 Chicago Worlds Fair
A celebration of 400 years since Columbus sailed to America, although one year late, the Chicago Worlds Fair, or the Columbian Exposition, was the culmination of the Gilded Age basically.
Frederick Jackson Turner
A historian who in 1893 wrote that “the dominant fact in American life has been expansion.” He observed that the influences that America was slowly spreading showed that expansionism would continue.
Maggie, A Girl of the Streets
Stephen Crane, shows reality of urban life, see also Sister Carrie
Dewey Reforms Education
1894 - 1930
Advocated schools to be child-centered instead of subject-centered, and believed students should learn by doing. Best known for replacing the traditional desks bolted to the ground in rows with seats that could be moved into circles or arranged in small groups
1900 - 1910
Time is approximate
Wanted to "make the city more organized and efficient for the business and professional classes who were to control its workings." Most small to medium cities replaced mayor and council with a nonpartisan commission of administrators, and began to regulate municipal utilities or to take them over from private owners. Municipal reform and the progressive social justice movement was closely tied to religion. Related was the city beautiful movement in which people build attractive museums and libraries for the upper classes. On the other side, social justice progressives established public playgrounds and advocated open schoolyards on weekends for the working classes.
Writers who exposed corruption and other evils in American society
Progressivism for Whites Only
TR invited BTWash to White House in 1901
1906, TR ordered all 167 members of the three companies dishonorably discharged after a white male was killed by several black soldiers; unjust punishment for unproven crime
Niagara movement was where WEB Du Bois gathered support for black reform and equality. Advocated for the best education possible for the most talented tenth of the black population.
A Muckraker novel, described the poor working conditions in Chicago meat packing industry
National Association for the Advancement of Colored People, aimed at promoting equality and justice for blacks
National Housing Association
This was a movement to try to make tenement homes neater, but immigrants disliked the middle-class trying to rearrange their homes.
Margaret Sanger Advocates for Birth Control
Comstock Law of 1873 made writing about contraceptive devices illegal, Sanger founded the American Birth Control League and gave rise to what would become Planned Parenthood
Majority of Americans live in urban areas
However, an urban area is thought to be over 2,500 people, and in that case, Winchester is a huge city!!
Supreme Court overruled series of state laws regulating railroads as unconstitutional effort to control interstate commerce
Danbury Hatters Case
A Supreme Court Case in which it was ruled that union members could be held personally liable for money lost by a business during a strike, in accordance with the Sherman Anti-Trust Act. This was one in a long line of issues with unions; Gompers, head of AFL, ignored the growing number of unskilled laborers and concentrated on raising wages and improving conditions for skilled craftsmen. National Association of Manufactures launched aggressive counterattack on AFL by providing strikebreakers, using industrial spies, and blacklisting union members. Women's Trade Union League forced AFL to pay more attention to women, helped out in strikes, put up bail money for arrested, and publicized plight of working women. Courts always sided with the employers, as seen in above case.
Muller v. Oregon
The most significant court case for women workers, since the court upheld the Oregon ten-hour law. Reformers won some protection for women workers by arguing that women are fundamentally weaker than men and so should have shorter work days.
Transportation Revolution Part 1
1820 - 1840
Horse-Drawn Omnibus, carried 10-12 people and was pretty slow and expensive, so most people walked
Samuel Morse invents Telegraph
Transportation Revolution Part 2
1850 - 1860
Horse Railways created, carry 25 people and go about 5-6 mph; went out from city centers like spokes, allowed the city to expand out about 4 miles; the cost of it limited passengers to being upper and middle class
January 1855 - October 1855
Henry Bessemer created a machine that made iron into steel by forcing air through liquid iron, reducing carbon, and also reducing need for workers--inventions such as this one allowed for new ways of production such as Andrew Carnegie's method of vertical organization. The Bessemer Converter, of course, eventually had to be remodeled for other purposes such as building. The solution to this was using extremely high temps in the process
Patents issued was exponential, Huge amounts
1865 - 1900
Alexander Graham Bell invents the telephone
This and things like lights were not common but increased desirability of urban dwellings
Electric Lights invented by Thomas Edison
Transportation Revolution Part 3
Cable cars, Trolleys, Subways created by this time, extended city bounds even further than previous limits
Cornelius Vanderbilt Becomes Known as the Commodore
Actually before 1812, gets reputation for good seafaring, then when the war begins, gets a lucrative govt contract because they know he will get the job done. Using the money he gets from the contract, he buys his own fleet
JJA creates town called Astoria
sometime before 1812 in actuality, US comandeered it and he had to close down
John Jakob Astor sells fur until War of 1812, becomes rich
CV's business starts dropping off due to steamships
Due to this, he changes his business to steamships and beat out all competitors by dropping prices, to the point that he would give some rides for free. He loved winning mostly, money was second.
Andrew Carnegie born
Scottish village, center of textile industry. He grew up thinking he'd be a weaver like his father but then machines were introduced
John Pierpont Morgan born
one of the only business tycoons with a privileged upbringing, his father wanted him to do business and so from a young age he studied account books
JJA invests in Manhattan real estate
becomes one of the biggest private owners in the city
John D. Rockefeller born
As a child, always had to choose between thrifty conservative mom and conman dad. Became religious and vowed not to be like his dad, and shortly after started his own company
AC settles in Pittsburgh
got a job at 16 working 10 hour days for $1.20 a week in a textile factory. His mother expected much of him, so he studied at libraries and eventually got a job at a telegraph co. and had the rare ability to get messages by ear. At this job, he realized RRs needed steel and saw his chance to get into industry.
JPM goes to school
went in Switzerland, distinguished himself and took charge
JPM clerks at a NY bank
At the age of 20 went to work, but still tried to run things even though he was a lowly clerk. Through this, a scenario occurred in which he bought a bargain he liked behind the boss's back--at first they were really angry, but then it became a huge profit and they were happy. This came a lot from the fact that he knew he was right.
JDR gets into Oil
1859 - 1863
Oil discovered and becomes profitable, and 1863 JDR opens his first refinery, Standard Oil. This soon became the biggest one in the industry, but he wanted to be the only one--horizontal integration, and was ruthless in trying to get his goal. He offered his competitors the choice of becoming part of Standard Oil or dying a slow painful death--those who took the offer got rich, and those who didn't saw artificial shortages in supplies that killed their businesses. RRs demanded outrageous prices, and in the 1890s, kerosene seemed to be taking over, oil not important, but then the car was invented, requiring a lot of oil to run. Oil powered the world into the modern Age. His business practices were strongly criticized
CV gets into RRs
Although it was late in life for him, he saw the way the country was headed, gave up his ships, and got into RRs, and soon had the largest and richest RR in the world. He was one of the first owners to envision a network, and made his RR business as good as his steamship one. He knew that good service meant profits, so he put money into improvements.
The Big Question
Are these tycoons Robber Barons or Captains of Industry??
Had more money than the US Treasury, made 1 million $ gift to Vanderbilt University under the stipulation that it be named after him. His son Henry doubled the fortune after. His greatest legacy was his vision of a network.
JPM starts to focus on RRs
1879 - 1890
For investments he got to be on RR boards, and then he knew best. Throughout the 1880s, became one of most powerful men in country, able to hire and fire hundreds of workers, eventually became feared because of this. Also, his nose was diseased and made him intimidating
AC's image as a friend of workers shattered
Workers in PA homestead milled peacefully then violently protested the conditions in his factory. He had chosen money over them. His reputation didn't fully recover ever but his business kept growing.
Cleveland asks JPM for help
Gold reserve was dangerously low, and he was the only one who could fix the situation, only took him a couple days. However, he wasn't nice, he wanted payment for the favor.
JP Morgan and Company created
spcialized in getting Europeans to invest in American business, and his company became trusted because whenever JP &Co. went in the red, he always got it back in black. One of the top financiers of the day.
JDR saw success as God's will, which came with the obligation to give back, so at 58 he started withdrawing from his company.
JP Morgan buys Carnegie Steel and Creates US Steel
Carnegie was surprised when Morgan offerend to buy, but accepted for $420 million. Selling it allowed him to start his philanthropy, began giving away all his money
JPM's crowning achievement, made so much money
Teddy Roosevelt tries to break Oil Monopoly
1904 - 1911
Surprisingly, when JPM died he only had 80 million. However, he had been possibly the most powerful man in the nation. He was not altruistic and kinda ruthless in his quest to get what he wanted.
By this time, AC had given away about 90% of his wealth; a man should spend first half of life making money, second half giving it away. Mostly gave by building libraries because of the good they had done him in his childhood. The money that wasn't given away went to the Carnegie Foundation and his family.
By death had amassed maybe the largest wealth in US history, more than half went to charities, rest went to his son. His legacy lives on in antitrust laws and the companies that Standard Oil was divided into.