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Morgan Vs Jay Gould

658 Words3 Pages

Jay Gould “standardized tracks” by buying multiple single railroads and connected them which formed the transcontinental railroad. The corrupted railroad king deliberately bankrupted businesses with water stocking then restore them into profitable businesses and bribed legislature officials to change laws to let him continue. J.P. Morgan was a broker for railroads and applied “Morganization” (which is the same as Jay Gould’s monopoly) to railroad and steel companies. J.P. Morgan also invested into Thomas Edison’s laboratory development of the incandescent lighting system. This complex system opened doors for companies to work continuously and increased productivity. Andrew Carnegie’s steel company would be the infrastructure of the gilded age when his steel was used for railroads which kept railroad tracks together. Along with the air break made transportation faster, and increase the weight of cargo and more goods. Steel was also used to build skyscrapers made it possible for larger buildings to be built, and more people to live in one area. The problems caused by urban growth the decrease of food availability. Herbert Spencer and William Graham Sumner applied Darwinism to business and society which related wealth and power with natural selection and “fitness” and justified discrimination of economic statues, race, and gender. Andrew Carnegie would challenge Social Darwinism with his …show more content…

To decline corrupted parties, the Pendleton Civil Service Act in 1883 was passed. It prohibited government corruption and declined the revenue of party bosses by requiring competitive examinations, outlawed removal of jobholders for political gain, and prohibit federal jobholders contributing to political campaigns. The Interstate Commerce Act in 1887 was the first federal law to regulate railroad monopoly and the Sherman Antitrust Act regulated business

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1696 Words | 7 Pages

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821 Words | 4 Pages

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