The Daily Times - Sara Ward
Standard Oil Company
John Rockefeller was the president of the Standard Oil Company, and created the trust to have more control over the oil companies.
Trust was when shareholders of a company turn there shares over to trustees, who control the business. This created a monoploy through horizontal integration. But in 1890, the Sherman Antitrust Act were passed by Congress that banned trusts.
Social Darwinism was the accepted philosophy of the wealthy men like JP Morgan. John Pierpont Morgan also known as JP Morgan took over his fathers broker firm which was very successful. JP also formed the U.S Steel company in 1901 by buying out Carnegie Steel and other successful companies. JP Morgans company the U.S Steel became the first Billion dollar company in the world.
Knights of Labor:
In 1869 Knights of Labor were led by Terence Powderly. This labor unions were fighting for better hours, and better working conditions. They wanted to have 8 hour working days, improve wages, and put a end to child labor. But the Knights of Labor failed due to Hay Market Riot!
Thomas Edison is one of the greatest inventors of this time. He created the mimegraph (copier), cinema scopes (movies), phonography (record player). He also perfected the lightbulb which changed social activites and sleep patterns. Thomas Edison created many inventions that i feel will be used in the future.
Letter from the Editor:
In my opinion, if i was apart of the labor unions i would agree with the Knights of Labor. Everything they were fighting for, they believed in and were not going to give up without a fight. The demands they were asking for was not unrealist because all of these conditions that they were having to work in was affecting there lives.
In 1886 a strike against the McCormick Harvesting Machine Company in Chicago was led by the Knights of Labor. During this riot police and strikers fought which led to the death of one striker. The next day people came from all around to protest the death of there fellow striker. When police came to break it up another riot was started which resulted in the dealth of 7 police men. After this event the Knights of Labor membership in the union was denied.