Episode 7 and Beyond

Ridiculously rich.

The three men combined are worth 1 trillion dollars in today’s money. They literally own nearly everything.

The gap between the rich and the poor is growing at a staggering rate. Most people make $1 a day.

Conditions in the factories are unbearable.

As the country approaches the 1896 election, the poor are desperate and without hope.

William Jennings Bryan promises equality for all.

In addition, he guarantees that he will take power away from the elite.

The monopolies become targets of the Democrats.

The titans feel threatened if he wins the presidency.

He threatens to have them put in jail.

They decide they must ban together, set aside their differences, to buy the presidency. Their choice is William McKinley—the Republican candidate who will allow them to keep running their businesses they way they had for years.

Rockefeller edits speech for McKinley before the Republican Convention.

Yes, folks. They had that kind of power!

Rockefeller and Carnegie donate an estimated $20 million dollars to McKinley’s campaign.

The money raised by McKinley outnumbers William Jennings Bryan’s funds by a margin of 5:1.

In spite of this, Bryan conducts the first Whistle Stop Press Tour which is the model for how campaigns are run to this day.

He continues to attack the rich and vows for a new era.

Wealth distribution is STILL a hot topic today. As we talk about constantly in class, these main ideas that human beings have struggled with for many years will not soon go away. (The issue of states’ rights, equal rights, etc. are others that come to mind..)

This country was built on capitalism, but just how far is too far when it comes to this massive gap between the rich and the poor?

For twenty long hours, the titans agonize over the results. Will all their empires crumble?

People across the country DEMAND change. But this is not enough.

Bryan carries the rural South, but McKinley takes the big-money North East.

McKinley wins! The captains of industry dodged a bullet. The country remains in their control.

Profits once again skyrocket. They are set to become even more powerful than before.

Their alliance frays once the election is over. Back to business.

Rockefeller and Carnegie are looking for things to invest their money in.

Rockefeller knows little about steel (but he knows tons about stealing from Carnegie..Get it? Get it?!), but knows deposits used to make steel can beat Carnegie at his own game.

Rockefeller buys iron ore but Carnegie thinks it’s silly. No steel producer would buy it because it is too weak. But Carnegie is wrong. Rockefeller supplies it to all of Carnegie’s competitors at rock bottom prices. (Get it? Rockefeller? Rock bottom?)

Carnegie’s profits begin to take a tumble.

Rockefeller senses weakness and plans to build his own steel empire.

Carnegie calls a meeting hoping to talk him out of joining the steel business.

They had been feuding for decades, but for the first time, they are locking horns directly.

Steel is just a small part of Rockefeller’s fortune, but to Carnegie it’s everything.

Carnegie has little choice. He will buy all the output of Rockefeller’s mines, and Rockefeller promises not to build a steel mill.

Rockefeller might have gotten the better of Carnegie.

Believes that some individual needs to bring sense and order to American capitalism

Wants to consolidate steel.

Plans a takeover of Carnegie’s empire and his timing is impeccable.

At this time, Carnegie is questioning his future. Thinks about his legacy.

Morgan meets with Charles Schwab, Andrew Carnegie’s right hand man.

Schwab goes and asks Carnegie what his price would be, if he would consider selling Carnegie Steel. He responds with the outrageous sum of $480 million, $400 billion of today’s money.

This is more than the United States treasury!

Morgan says YES to this outrageous sum, and Andrew Carnegie is now the richest man in the world. He has a net worth of $310 billion in today’s money.

This is the largest private fortune the world has ever seen.

Initially, he is lost without his empire.

Part of a wealthy New York family He decides to take a different path than he could have—goes into politics,not business. To remake his image, he manufacturesan everyday guy image. He was aSpanish-American War veteran. He is a Republican and wins election toBecome governor.

He CANNOT be manipulated. Clamps down on big business in New

York. The titans see him as a threat. They

need to make him powerless…so they make him Vice President on the McKinley ticket!

It’s the 1896 election all over again. McKinley is reelected, Roosevelt is Vice

President, and they feel they can go about business as usual once more.

Their plan backfires in a huge way. McKinley is assassinated by a man fed up

with his relationship with big business. Eight days after he is shot, he dies.

Theodore Roosevelt takes over. Not only does he become president, he becomes the titans’ worst nightmare.

He quickly launches a campaign against trusts.

Refuses to back down. Even when involved with lawsuit with J.P. Morgan—Morgan loses. Roosevelt breaks up his railroad.

Rockefeller avoids all this for a bit, but Standard Oil will not be able to avoid the law forever…

Episode Nine: Henry Ford

Rockefeller and his posse finally go to court after evading the law for quite some time.

He finally stands up for Standard Oil in the landmark case United States v. Standard Oil

This case marks the beginning of the end for the era of the big business titans.

wants to create an affordablecar for regular people Easier said than done; ALAM ownsthe patent on the automobile. They are a

giant car monopoly Ford sees the future—wants cars to be

an everyday item At age 33, he builds his first car. He

tries to get permission from ALAM to mass produce but he is denied.

Ford has few options but refuses to give up on his dreams.

He challenges Alexander Winton (but he LOST ) to a race (fastest man in the world). He wins with his Ford! (David and Goliath situation here..)

He is sued by ALAM eventually for breaching patent on automobile.

However…Ford WINS again. He pushes forward, forever changingAmerica.

In 1911, the fight to bring down Standard Oil is getting ugly.

J.P. Morgan has kept US Steel off the target map. He also raises 40 million dollars to help get project to build the Panama Canal started.

US Steel, Standard Oil, and General Electric dominate everything. The gap between the rich and the poor is larger than ever.

But like all good things…this era is about to meet its end.

Unlike the titans of the past, Henry Ford is paying his workers $5 a day and treats them fair.

The assembly line is not invented by Ford, but he perfects it.

Under Ford, the 8 hour work day is born. The Model T costs $825 and common

people could afford it. Literally, Ford has changed America.

A prosperous Middle Class is born.

Harley and Davidson get together, add an engine to a bike, and…

Hershey uses the assembly line to make chocolate…

Wrigley makes gum… Max Factor creates make-up, a new

consumer product to be used by this growing middle class…

Working conditions are safe and the 40 hour work week is the norm

Standard Oil is broken up, but Rockefeller becomes richer than ever. Exxon, Mobile, and Chevron are all companies that stem from Standard Oil. Their gasoline are used to fill Ford’s automobiles.

Rockefeller is worth $660 billion dollars. (Today’s money)

“Man who dies rich, dies disgraced.” Carnegie and Rockefeller decide there’s a new race…who can give more away!

Carnegie donates 67 billion dollars in today’s money.

Rockefeller outlives Carnegie by 13 years, donating $100 billon of today’s money.

20th century is the American century!

When WWI breaks out, the world looks to America.

Fifty years removed form the Civil War, America has become a global superpower. Unbelievable. Remarkable. Awesome.

These men are incredibly important in our history.

They didn’t discover America…they built it.