HIST 1312 1st Edition Lecture 8 Outline of Last Lecture I Protective Tariffs II Andrew Carnegie A Steel B Definition of a Vertical Monopoly III John D Rockefeller A Oil B Definition of a Horizontal Monopoly IV J P Morgan A Banking V Railroads Outline of Current Lecture I Supply and Demand A Henry Ford B Capitalism C Socialism D Anarchism II Immigration A Dennis Kearney B Jacob Riis C Jane Addams III Labor A Molly McGuires B Haymarket Square Riot C Homestead Strike Current Lecture l A The economy in the early 1900 s and the late 1800 s was based on supply and demand When supply was up demand was stable and wages were down when supply was down demand went up and wages went up as well In 1920 Henry Ford was making one automobile a day When he created the assembly line he could produce one car per These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute minute However all the rich people who could buy his car would stop eventually because they would all have one So he raised the wages of his workers so they could also buy his cars on an installment plan B America became the first country to successfully run on Capitalism Capitalism is good when the economy s good however the poor people don t benefit from this system so most were Anarchists or Socialists C Socialists believe workers who are put in the labor force should share in the profits they make Socialism is a government controlled economy that can be strict D Anarchism started in Southern Europe and they believe in no rules and no authority so that they can rule over themselves They believe in no government ll A Chinese and Irish workers who worked on the railroad moved to San Francisco afterward They competed for jobs and Chinese workers would usually get them because they would work for less Dennis Kearney and Irishman went to San Francisco and witnessed this so he went to Congress to pass an act that prohibited Chinese immigrants from moving to California for a 10 year period and then it would be made permanent this act was called the Chinese Exclusion Act and it was the first immigration restriction act B Jacob Riis wrote a book called How the Other Half Lives This book talked about the immigrants and how they had to live in America he even included pictures of the immigrants living in dirty small tenements He helped raise awareness of what the immigrants lived through C Jane Addams was a wealthy woman whose driver took a wrong turn so she saw the South side of Chicago where the immigrants lived and couldn t believe it They were living in filth and in very harsh conditions So instead of getting married she used her dowry to create Hull House which was where she could provide immigrants with knowledge and safety lll A Molly McGuires were Irish coal miners in Pennsylvania who went on strike They went on strike because they had to work 12 hour days and the last two hours of these days consisted of many accidents because they were more tired So they wanted 12 hours cut down to 10 hours and the same pay Management says no so they go on strike and damage the mine s property and kill people who don t support them Because of this labor starts to get a bad reputation B In the Haymarket Square Riot picketers rally outside of the square and polic beat them back A lot of violence ensues and later the picketers come back to mourn the ones they ve lost Someone throws a homemade bomb and the cops and people start shooting at each other With 8 cops dead Unions are now considered cop killers and dangerous C The Homestead Strike occurred at the Homestead Plant that Andrew Carnegie was in charge of Union members wanted less hours so they talked to the person next in charge Mr Frick Mr Frick didn t have that kind of authority so he went a cable to Andrew Carnegie asking if they could do this Carnegie responds to the people with a talk to Mr Frick and he tells Mr Frick no So the Union members have a sit in and when the Pinkerton Agency can t stop them they call in the National Guard who were able to remove them One of the workers goes back and tries to kill Mr Frick so he sends another cable to Carnegie saying they better change what they re doing or the workers will rise up Since Carnegie wants to help the majority not just individuals he funds libraries where people can check out books for free