Summary
Summary Economic Changes 1890s - 1910s
- Course
- Institution
This document covers the strikes of the 1890s alongside other economic changes of the time.
[Show more]
Seller
Follow
surathsanwal
Content preview
Economic ChangesIndustrial growth: Trade unions:
The industry continued to expand, particularly with oil and steel. Labour unions representing different sectors were set up in the years following the Civil
1860 - Iron production is 920,000 tons War.
1900 - Iron production is 10.3 million tons 1885 - The American Federation of Labour (AFL) was created to represent labour
Pittsburgh, Pennsylvania became the centre of the iron industry, it was highly centralised unions. It would speak on behalf of all member unions alongside encouraging mutual
with 38 steel plants along 42 km of navigable rivers. support between unions.
Jan 1901 - Modern oil production began due to the success of the Lucas Well in AFL tried to bring about better working conditions and better wages with its main method
Spindleshop, Texas. The well produced 70,000 to 111,000 barrels per day before it was being strike action.
capped. 1886 - There were 1,400 strikes involving 500,000 members.
1901 - The Carnegie Steel Corporation was sold to J.P. Morgan, it was renamed US Steel Employers were generally hostile to trade unions and would often sack workers who
and became the world’s first billion-dollar corporation. joined trade unions, using blackleg labour to break up strikes.
1904 - The largest 4% of US companies produced 57% of the US industry.
1907 - Oklahoma was the leading oil producer.
1913 - Oklahoma was producing 25% of the USA’s oil.
Depression of 1893: Pittsburgh Steelworkers strike of 1892:
The Panic began when the Reading Railroad declared bankruptcy. 1892 - At Carnegie’s Homestead Steelworks plant, the manager, Henry Clay Frick, cut
Soon after, the ‘Industrial Black Friday’ hit, and 24 businesses failed per day in May. wages and refused to accept union negotiation.
1893-1897 - 15,000 companies and 600 banks closed, the national unemployment rate In order to break the union - the Amalgamated Association of Iron and Steel Workers -
reached 20%. (The unemployment rate in Pennsylvania hit 25%, in New York 35%, and in private detectives were used to smuggle in strike-breakers, who were then attacked by
Michigan 43%). strikers.
President Cleveland supported limited federal government and believed that the business The Company called in the militia who were armed with rifles and machine guns.
cycle was a natural occurrence that shouldn’t be tampered with. The strike ended after five months as strikers without wages were starving causing their
Sherman Silver Purchase Act of 1890 - The US Treasury would purchase 4.5 million action to collapse.
ounces of silver each month and issue notes for it. This Act was repealed by Cleveland in This defeat set back union power considerably.
October 1893, this helped boost business confidence and gradually stemmed
unemployment.
The Depression of 1893 led to the rise of Progressivism as the poorer elements of society
believed they had been ignored during the hard times.
Agricultural discontent: The Pullman strike of 1894:
Farmers in the South and West did not see the prosperity and expansion experienced by The Pullman Company had cut wages but refused to lower rents for the houses where
the industry, alongside this they objected to the power of bankers and corporations. employees were required to live.
Farmers saw themselves as independent and self-sufficient yet many had to rely on loans The American Railway Union (ARU) run by Eugene Debs refused to handle any trains
to get them through the farming year. carrying Pullman cars as long as the workers were on strike.
Falling agricultural prices and higher prices charged for the storage and transportation of The railway owners asked President Cleveland for help and he agreed to send in troops
grain meant that the farmers had less income to pay back these loans. to keep the trains functioning.
Many farmers blamed railroads and bankers for their problems. Rioting was followed by the troops firing into the crowd and killing four people.
1875 - Farmers’ Alliances was created to ensure unity between farmers through The strike ended in failure with rents remaining the same.
cooperation and self respect. Many farmers started joining this later on. Omnibus Indictment Act - prohibited strikers and union representatives from attempting
These Alliances led to the Populist Party and gave support to the Democrats in the to persuade workers to abandon their jobs.This Act was used against the ARU and
presidential election of 1896. remained in force until the 1930s.
Due to this, belief that the federal government did not care about the less well off in
society, causing them to turn to the more radical ideas of the Populist Party.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller surathsanwal. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.25. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now