-
Vanderbilt merges trunk lines
Vanderbilt merges railroad trunk lines from New York City, Buffalo, and Chicago to his Central. Example of vertical integration. -
Period: to
Gilded Age Timeline
-
Gant is Elected President
Repulbican Ulysses S Grant becomes president of the United States. -
Transcontinental RR is Finished
Railroad connected the U.S Pacific Coast to the U.S Atlantic Coast. -
Standard Oil is Formed.
John D Rockefeller establishes this corporation in Ohio with a trust board to help the business. It teamed up with Carnegie/ US Steel and other big businesses to stay in power. Rockefeller used both horizontal and vertical integration. -
Knights of Labor is Formed
Was founded by Uriah S. Stephens as a secret organization with the help of a group of Philadelphia garment workers. Was soon taken over by Terence V. Powderly. The KOL welcomed all workers regardless of trade, race, sex, or creed. Fought for an 8 hour work day and the abolition of child labor and more workers rights in general. -
Population
American population was around 40 million. -
The Telephone is Invented
Alexander Graham Bell patents his invention of the telephone. -
Great Railroad Strike
Workers from different railroad companies went on strike because their wages were cut. They stopped railroad traffic for a week and had to be put down by federal troops. (Under President Hayes). -
The Lightbulb is invented
Thomas Edsion perfects the lightbulb and has it mass produced. This begins the decline of Rockefeller's oil company. -
James A. Garfield is elected president of the United States
Served as President until Sepember 19, 1881 when he was assassinated. -
Chester A. Arthur Becomes President
After president Garfield was assassinated, Arthur succeeds him and served until March 4, 1885 -
Chinese Eclusion Act
This act prevented Chinese from immigrating to the US. It didn't affect Chinese laborers who were already in the US. -
Grover Cleveland is elected as President
Served as the 22nd President of the United States. Served two non- consecutive terms. Served as the 24th President from 1893- 1897. -
The American Federation of Labor (AFL) is Founded
Founded by Samuel Gompers and organized only skilled workers. Used methods such as striking and boycotting to make their points. Wanted better working wages. Opposed women joining their organization. -
Haymarket Riot
A bomb was thrown during a protest againts alleged police brutality in Haymarket Square, Chicago. Although no one knows who threw the bomb, the Knights of Labor were blamed for the death of dozens of people. The Knights lost a lot of support. -
Benjamin Harrison is elected as President of the United States
Served as the 23 president until March 4, 1893 -
Carnegie Steel is Established
Andrew Carnegie officially established his company (in Pittsburg) after he absorbed enough steel mills. He did this through vertical integration. Carnegie was able o perfect the process of steel making through the Bessemer Process. -
Homestead Strike
Steelworkers in Pittsburg strike against Carnegie Steel. 10 workers were killed in the rio. -
Panic of 1893
Time period where many railroad companies were becoming bankrupt due to rate wars. Many went out of business and left people unemployed. Much help was needed by JP Morgan to fix problems. -
"Morganization" Begins
JP Morgan took over many railroad companies and established new rates, stock, and rebates. This lowered competion and crushed debts. Another example of vertical/ horizontal integration. -
William McKinley is elected as President of the United States
Served as president until September 14, 1901 when he was assassinated. -
New York City's Population Grows
At this time, New York City became the center for business and commerce. The population also rose to about 3.4 million people. -
Population Grows
The population in America rose to 76 million, mainly due to immigration. -
US Steel is Born
JP Morgan bought out Carnegie's Steel Company. It became US Steel
