Class Notes, 09/30/2009

1. 1869: 9 Billion, 1900: $29 Billion
2. Carnegie, Rockefeller: major players
3. employment in steel-10x
4. major confrontation in Homestead, Pennsylvania: union went on strike, workers locked out, strikebreakers brought in, Union loyalists attacked the barge
5. Gospel Of Wealth: “obligations” of the wealthy to the poor
6. Carnegie gave away 90% of his wealth
7. first $Billion dollar corporation in American history-consolidation of resources, monopolistic
8. Rockefeller: $ is in refining oil, ruthlessness!
9. Rockefeller: organized a trust, “Mother Of All Trusts”
10. 1911 Standard Oil is broken up, under Sherman Anti-trust act
11. powerful corporations have virtual monopolies
12. issue of trust, major political football, concern of progressive reform
13. the development of a corporate economy (corporatism/fascism?)
14. steel, oil, railroads-economic engine
15. pay by hour, not by task
16. uniform standard time was needed 
17. 1880s, 70% of the country’s wealth held by 10% of the people
18. 1916: 60% of the country’s wealth held by 2% of the people
19. a small # of industrial corporations controlled 1/2 of the manufacturing
20. Republicans: packed the Supreme Court, supported corporate privilege
21. Santa Clara, gives corporations Bill of Rights protections of 5th & 14th amendments.
22. Progress & Poverty (George), The Gilded Age (Mark Twain)
23. Belamie: perfect civilization, utopia, all cooperative, society was like a train
24. Gladden: Applied Christianity, being a Christian is being compassionate for your fellow man, the Social Gospel
25. Charles Sheldon, In His Steps, 1896 story of dying vagrant, stumbles into a church, 2nd most selling book in America next to the Bible
26. America’s independent farmers-moral backbone of America, economically independent, close to nature, strong-hard working, family-oriented, Bible-oriented people
27. North and East: two sections that prevailed over the South (Civil War), the Homestead Act of 1862, 160 acres of land in the West
28. Independent farmers were disillusioned by Republican Party, felt powerless. Railroad prices for carrying products decreased, farmers had easier access to credit, agricultural machinery made productivity higher but prices for crops were declining. 
29. railroads: arbitrary rates, American farmers were always dependent on bankers, dependent on unpredictable factors
30. Farmers organized with Grange Movement in the 1870s. Failed because of conservative courts wouldn’t allow state regulations to be enforced. 
31. sought to regulate railroad rates. 
32. Women: some of most outspoken leaders: masses vs. the classes (upper)
33. Wanted federal regulation of the trusts/railroads