Says people are put into classes based on how things are made

  Says capitalists own the government, army and courts

·         Ex: people who make the things are in the working class, people who own the factories are called capitalists (the ruling class)

 Darwinism: species change over time for the better

·         Politics of Darwinism: gov should not regulate corporations, should not take huge measures to correct social ills or poverty

·         Voyage of the Beagle: interested in slight variations of species, especially the galopogas finches.

·         Origin of the Species: evolutionary theory that we pass on traits through natural selection

§  coined the term “survival of the fittest”; thought best society was a capitalist one; father of social Darwinism (limited gov)

·         “people had the right to ignore the state”

§  : American founder of sociology; fan of Spencer, but built off his ideas (don’t do away with survival of the fittest, but you can interfere with it by protecting the weak

·         Folkways:charted the evolution of human customs; “the products of social development over long periods of time

·         VERY against imperialism and Spanish-American war

§  FIERCELY opposed Spencer; thought free enterprise was harmful to society; fan of public schools;

·         Dynamic Sociology: human process should be guided by a strong, democratic gov

§  : student of Sumner, but didn’t agree; the ruling class has more time for leisure

·         Conspicuous Conception! The use of wealth to show off (rappers and cars)

  Everyone has an equal share and opportunity (like Canada and health care)

§  currency issued by the north during the Civil War, but the gov didn’t have the power to tax, so they didn’t have secure financial backing, and people didn’t honor their full value; non-gold backed!

§  the standard economic unit of account is based on a fixed weight of gold; limited the amount of money in circulation

§  gave charters to banks, and started the Federal banking system; encouraged a national currency backed by the bank holdings of the US Treasury

§  eliminated the standard silver dollar, eliminated bimetallism, so everyone that had silver basically had nothing; “The Crime”

gov would redeem greenbacks for gold

§  started by the miners, debters and farmers, tried to make silver more valuable

§  increased the amount of silver that the governemtn was required to purchase every month; farmers had a lot of debts that couldn’t be paid off due to deflation caused by overproduction; they wanted to boost the economy and cause inflation, allowing them to pay their debts with cheaper dollars; wanted to increase the demand for silver so the value would go up; backfired

raised average duty on imports; wanted to protect the domestic industries from foreign competition

§  also known as the independent party; political party with anti-monopoly ideology; opposed the shift from paper money back to coin money because they thought that banks and corporations would then reacquire the power to determine the  value of products and labor; against the use of militia and police against strikes; thought gov should keep more money in circulation because it would help farmers

§  Side with the people instead of the elites;

§  Rural people, anti-big business, big banks, and railroads

§  Didn’t like deflation, resulted in lower incomes for farmers

§  Conflict with railroads and such

§  Urbanization, changing nation

§  William Jennings Bryan at the Democratic National Convention

§  Supported “free silver”- advocates wanted to use both gold AND silver in US currency, where 16 ounces of silver = 1 ounce of gold; favored INFLATIONARY monetary policy;

§  Hated gold standard

§  Over money standard

§  Outlined how to have peace after WWI

§  Kant and the Democratic Peace Theory

§  Public treaties, no tariffs, empires will become democratic,

§  Triggered depression in both US and Europe

§  The “Long Depression”

§  Since Germany ceased minting silver coins, and silver mines were in the US, the value of silver here dropped

§  The Coinage Act was then passed, so now no silver from the public would be made into coins

§  Many were heavily invested in the railroads, and Grant wanted to raise interest rates which made it worse for those in debt

§  Set off a chain of bank failures and closed the NY stock market for 10 days, factories began to lay off workers as the US went into a depression, railroads began to fail (which used to be the backbone of our economy), HIGH UNEMPLOYMENT

§  Gold reserves in Europe were depleted, and the NY national banks halted investments in the rest of the US and called in loans; foreigners were losing confidence in the willingness of the US to stay on the gold standard

§  Similar to the one of 1873, it was due to railroad overbuilding, and shady railroad financing which set off s series of bank failures

§  One of the first signs was the bankruptcy of the Philadelphia and Reading Railroad

§  President Cleveland repealed the Sherman Silver Purchase Act which he thought was responsible

§  Also McKinley Tariff, because no one likes tariffs

§  People got worried and did bank runs again

§  “The Roosevelt Panic”

§  Due to the impact of the Hepburn Act, which gave more power to the ICC, which keeps the railroads in check and put a max on what they could charge so they wouldn’t have unfair prices or run a monopoly; investors got mad that they weren’t as profitable now

§  Stockholders began to sell

§  Free market supporters blamed Roosevelt and the Hepburn Act

§  Progressivists blamed the American banking system and said it was flawed because there had been other panics

§  JP Morgan used his own money to help bail out

§  Hayes (for reconstruction) vs. Tilden

§  Tilden against reconstruction, and ended it

§  Tilden won the popular vote by 3%, but 20 electoral votes not counted, and they sided with Hayes cuz they’re still under republican rule

§  Redemption- all the states were welcomed back into the union, troops sent to the south to make sure elections went smoothly

§  Compromise of 1877: “Corrupt Bargain”- says Hayes becomes President, but he has to remove all the troops from the south, and ends reconstruction (even though he didn’t want to)

§  Realignment election

§  William McKinley vs. William Jennings Brian

§  Polar opposites

§  Brian = populist leading democrats, bimetallism, against coinage act

§  McKinley = raised protective tariffs to promote American

§  Wilson, Debs, Taft, Roosevelt

§  Roosevelt’s Bull Moose party split the rep party so the Dem, Wilson, won

·         Financiers

·         Get Grants brother in law to get info about the market, so they know in advance what to do with the stock market

·         Causes market to go down, causes panic (bank runs)

·         Fisk and Gould didn’t get caught, but a lot of people got hurt by it

Corrupt

2 Terms

He;s not personally known for it, his people are

Fisk & Gould

§  Gov agents, whiskey distillers would take tax revenue instead of giving it to gov

§  They pocketed millions of dollars

§  “construction company” owned by Union Pacific railroad

§  A company owned by a company paid by the government, so they got double money from the government

§  Came out during Grant’s time

§  Union Pacific becomes bankrupt (Gould buys them, so now he’s poor, ha!)

Ø  

v  opposed centralized power; small farmers and businesses; had local leaders, but never really grew to a national level

Ø  Co ops- shared each other’s tools to cut out the middle man and increase

Ø  Farmer credit union

Ø  Granger laws were state laws that regulated businesses

§  Freight rates

Ø   Populism

Ø  The grange is one of the populist farmer organizations to improve standard of living for farmers

Ø  Populist “people”

Ø  Abolitionist, general in the union

Ø  GREENBACK!!!!

Ø  FARMER’S ALLIANCE

Ø  Wanted certain people in certain regions of the nation

Ø  Labor reformer for the  8 hour day

Ø  Which lead to Muller vs. Oregon

Ø  Wrote The History of the Standard Oil Company

Ø  Swayed the popular opinion against standard oil

Ø  Wrote The History of the Standard Oil Company

Ø  Swayed the popular opinion against standard oil

Gifford Pinchot

Leading conversationist

1st chief of us forrest service, proposed the wise use policy

§  Caused by trying to cut costs by cutting wages

§  Employees refused to work then picketed

§  Tried to make other workers not to work

§  Sabotaged railroads so they would be shut down

§  Militia sent, they refused to use force

§  Sent in federal troops

§  Workers attacked national guard, violence

§  Spread to Penn, Ill, and Ohio

§  Took over a month and a half to restore order, but seen as victory because workers received benefits; first to receive pension

§  GOV SIDED WITH OWNERS NOT WORKERS

§  Tried for the 8 hour day

§  After enacted in 8 hour day, the 8 hour league (August Spies!!!!) was formed and they embraced Marxism; called meeting at Haymarket Square

§  Some men were executed, and became martyrs, and inspired May Day

§  Embraced Karl Marx’s Communist Manifesto

§  Ending child labor

§  Equal pay for women

§  8 hour work day

§  Graduated income tax

§  Powderly was head of it til it got huge

§  First to have skilled and unskilled workers (basic factory workers)

§  Samuel Compers

§  Skilled laborers

§  Thought skilled wouldn’t get along with unskilled

§  Didn’t want to destroy capitalist, just wanted to improve it for workers

Industrial Workers of the World

§  Wanted a socialist world

§  “Wobblies”

§  Unskilled factory workers

§  Wanted to unite with new immigrants

§  Wanted to destroy capitalism

§  Eugene Debs = leader!

·         Originally for labor unions

·         Then became socialist because he read the Communist Manifesto

v  Union pacific railroad goes east to west, know its impact

Ø  Steel

Ø  Vertical integration- bought everything to do with the steel stuff

Ø  Rags to riches

Ø  Standard Oil Company

Ø  Horizontal integration- bought up other oil refineries

Ø  Absorbed or destroyed most of his competition

Ø  trusts