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CSU HIST 151 - Chapter 18: "Business and Politics in the Gilded Age"

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HIST 151 1st Edition Lecture 8Outline 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 & TarbellCurrent LectureThe Government and its agencies cannot keep up with the Gilded AgeSteel 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 establishedCarnegie Steel- Carnegie’s name is forever connected to steel – inspired by Europe to utilize and manufacture irono 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 ofThese 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, decidesto 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 Companyo Slap in the face of


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