HIST 151 1st Edition Lecture 8 Outline of Last Lecture I Chapter 17 The Contested West 1865 1900 Cont II Chapter 18 Business and Politics in the Gilded Age 1865 1900 Outline of Current Lecture III Chapter 18 Business and Politics in the Gilded Age 1865 1900 Steel and Oil Carnegie Steel Rockefeller Standard Oil Tarbell Current Lecture The Government and its agencies cannot keep up with the Gilded Age Steel and Oil The landscape of the U S commodities and business are changed forever Carnegie and Rockefeller oil and steel dominate railroading and the railroad industry The first billion dollar corporation is established Carnegie Steel Carnegie s name is forever connected to steel inspired by Europe to utilize and manufacture iron o Bessener a European entrepreneur found a way to turn iron into steel Carnegie traveled over seas to witness the procedure so he could perfect it and make it his own Pittsburgh was the birthplace of the steel industry By 1900 American steel made up 98 of the world s steel production One of the main issues of the steel industry is that steel needed lubrication oil Oil and steel are in tandem together Carnegie looked to Rockefeller the father of the oil industry for assistance Combined their forces together and became the first billion dollar corporation in America Rockefeller Standard Oil Tarbell Rockefeller family always acquired vast amounts of money brought oil into the work industry had more money than the United States Treasury Refused to pay his employees reasonable wages nor did he allow them time of 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 Ida Tarbell highly regarded woman and reporter employed by McClore s magazine decides to visit Rockefeller and discover how his business is being ran His industry was scandalous Tarbell s findings were published as a novel titled A History of the Standard Oil Company o Slap in the face of Rockefeller
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