HIST 1312 1st Edition Lecture 16Outline of Last Lecture I. The Transformation of the Westa. Farming in the Trans-Mississippi Westb. The Cowboy and the Corporate Westc. Conflict on the Mormon Frontierd. The Subjugation of the Plains Indianse. “Let Me Be a Free Man”f. Remaking Indian Lifeg. The Dawes Act and Wounded Kneeh. Settler Societies and Global WestOutline of Current Lecture II. The Second Industrial Revolutiona. The Industrial Economyb. Railroads and the National Marketc. The Spirit of Innovationd. Competition and Consolidatione. The Rise of Andrew Carnegief. The Triumph of John D. Rockefellerg. Workers’ Freedom in an Industrial AgeCurrent LectureThese 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.The Second Industrial Revolution- Between the end of the Civil War and the early twentieth century, the US underwent one of the most rapid and profound economic revolutions any country has ever experienced- The Industrial Economyo The rapid expansion of factory production, mining, and railroad construction in all parts of the country except the South signaled the transition from Lincoln’s America – a world centered in the small farm and artisan workshop – to a matureindustrial societyo 1913 – US produced 1/3 of the world’s industrial output – more than Great Britain, France and Germany combinedo 1890 – 2/3 of Americans worked for wages, rather than owning a farm, business, or craft shopo The heartland of what is sometimes called the “second industrial revolution” wasthe region around the Great Lakes, with its factories producing iron and steel, machinery, chemicals and packaged foodso Pittsburgh had become the world’s center of iron and steel manufacturingo Chicago, by 1900 the nation’s second largest city with 1.7 million inhabitants, washome to factories producing steel and farm machinery and giant stockyards where cattle were processed into meat products for shipment east in refrigeratedrail cars- Railroads and the National Marketo The railroad made possible the second industrial revolutiono In 1883, the major companies divided the nation into the four time zones still in use todayo The growing population formed an ever-expanding market for the mass production, mass distribution, and mass marketing of goods, essential elements of a modern industrial economy- The Spirit of Innovationo The opening of the Atlantic cable in 1866 made it possible to send electronic telegraph messages instantaneously between the US and Europeo During the 1870s and 1880s, the telephone, typewriter, and handheld camera came into useo Thomas Edison helped to establish entirely new industries that transformed private life, public entertainment and economic activity Phonograph Lightbulb Motion picture A system for generating and distributing electric power- Competition and Consolidationo The combination of a market flooded with goods and the federal monetary policies that removed money from the national economy led to a relentless fall inpriceso The world economy suffered prolonged downturns in the 1870s and 1890so Businesses engaged in ruthless competition o Railroads and other companies tried various means of bringing order to the chaotic marketplace They formed “pools” that divided the markets between supposedly competing firms and fixed prices They established “trusts” – legal devices whereby the affairs of several rival companies were managed by a single director- The Rise of Andrew Carnegieo During the depression that began in 1873, Andrew Carnegie set to establish a “vertically integrated” steel company – that is, one that controlled every phase ofthe business from raw materials to transportation, manufacturing, and distributiono Believing that the rich has a moral obligation to promote the advancement of society, Carnegies denounced the “worship of money” and distributed much of his wealth to various philanthropies, especially the creation of public libraries in towns throughout the country- The Triumph of John D. Rockefellero Began his working career as a clerk for a Cleveland merchant and rose to dominate the oil industryo He drove out rival firms through cutthroat competition, arranging secret deals with railroads companies, and fixing prices and production quotaso By 1880s, his Standard Oil Company controlled 90 percent of the nation’s oil industry o Depending on one’s point of view, they were “captains of industry,” whose energy and vision pushed the economy forward, or “robber barons,” who wielded power without any accountability in an unregulated marketplace- Workers’ Freedom in an Industrial Ageo For a minority of workers, the rapidly expanding industrial system created new forms of freedomo A worker’s economic independence now rested on technical skill rather than ownership of one’s own shop and tools as in earlier timeso For most worker, however, economic insecurity remained a basic fact of lifeo During the depressions of 1870s and 1890s, millions of workers lost their jobs or were forced to accept reductions of payo Much of the working class remained desperately poor and to survive needed income from all family