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CHAPTER 20 | BIG BUSINESS AND ORGANIZED LABOR | OVERVIEW

CHAPTER TIMELINE

1866

National Labor Union formed

1869

Completion of the first transcontinental railroad

1869

Knights of Labor organized

1870

Standard Oil of Ohio incorporated

1876

Telephone patented

1877

Great Railroad Strike

1879

Incandescent light bulb invented

1879

Terrence Powderly became president of the Knights of Labor

1882

First electric current supplied to eighty-five customers in New York City

1882

Creation of the Standard Oil Trust

1886

Haymarket Affair

1886

Founding of the American Federation of Labor

1889

Andrew Carnegie’s “Gospel of Wealth”

1892

Homestead Strike

1894

Pullman Strike

1901

U.S. Steel Corporation formed

1905

IWW founded



CHAPTER OBJECTIVES

After you finish reading and studying this chapter, you should be able to:

  1. Evaluate the economic impact of the Civil War.
  2. Understand the important factors in the growth of the economy in the late nineteenth century.
  3. Discuss the role of the major entrepreneurs like Rockefeller, Carnegie, and Morgan.
  4. Account for the limited growth of unions in this period and the success of the Knights of Labor and the American Federation of Labor.
  5. Describe the major labor confrontations in this period.
  6. Explain the limited appeal of socialism for American labor.