Essay On The Haymarket Affair

The Homestead Strike was a very violent, but important event to the people of the American Business Industry. The violent act of a desperate businessman, in attempt to retain peace, killed many men. The infamous story of the Pinkertons changed the ways of American business agreements. The Homestead Strike changed the traditional American business environment by creating new laws and the awareness of the need for peace in business world.

The Homestead Strike was a labor dispute between the Amalgamated Association of Iron and Steel Workers and the Carnegie Steel Company. The Carnegie Steel Company’s chief executive, Henry Frick, hired Pinkerton Detectives to end the workers’ strike. On July 6, 1892, a confrontation between the workers and Pinkertons escalated into a deadly battle in Homestead, Pennsylvania (AFL-CIO). Despite becoming a source of inspiration for American workers, the Homestead Strike led to the eradication of the country’s strongest labor union and showed how powerful the combination of government and business could be.

Similar to the Industrial Revolution the phrase "market revolution" is explained in Charles Sellers's The Market Revolution: Jacksonian America, 1815–1846, which offers a look at the antebellum period through the rapidly changing market through cultural, social, and economic perspectives. Sellers describes America’s massively growing “capitalist market” was “history's most revolutionary force,” and that this new push of capitalism was “wresting the American future from history's most conservative force, the land” (Sellers, 4). This change in American culture turned a craft economy to a more laissez faire market of capitalism. The majority of Americans moved from self-employment and bartering to industrial and factory style work, changing the system from bartering and trade to an hour and wage system that supported the growing consumer market. The past handmade items that were low in variety and unique then turned into items that could be made in a very large and identical capacity for profit. Further, this “market revolution stressed Americans into unparalleled mobilization” that now dictated the lives of everyone swept up in it (Sellers, 4). Sellers explains that the market promoted a “competitive pursuit of wealth by open-ended production of commodity” which lured the American people into a false sense of individualism with each product they amassed (Sellers, 5). This created a new way to project the American image through the things that were owned. Bushman illustrates

What was the Market Revolution between the years of 1800-1840 all about? After winning the presidential elections in 1800, President Jefferson was determined to secure the nation and develop the market. He initiated improvements in roads, railroads, and canals. Consequently, the development in cotton kingdom led to the rise of the West as a powerful nation. The slavery trade also improved and became more organized. The revolution was also characterized by the growth of Chicago and Cincinnati cities. In 1814, the first large-scale factory was established in Waltham, Massachusetts. The economic improvements led to an influx of immigrants and traders in the major cities, and nativism due to the conflicts. Transformation Laws were implemented to control business and peace in the West. Additionally, the religion also improved as people celebrated self-improvement, self-determination, and self-reliance.

The partial repeal of the obnoxious taxes failed entirely to produce the effect intended. Rioting did not cease, and the worst kind of agitators in America found u help to inflaming popular feeling in the "Boston massacre," an affray between the soldiers and the mob in which three of the latter were killed and a half-a-dozen more were wounded. A Boston jury acquitted the soldiers of blame, but when passions have been excited such occurrences acquire a fictitious colour and a fictitious importance. Still, for some time the agitation only simmered; the colonials, for the most part, contented themselves with refusing

The rise of big businesses such as The Triangle Shirtwaist Factory was a noticeable feature of the Gilded Age. David Von Drehle explains, “The garment industry had become quite large and began to mature, having doubled in size over the previous decade” One of the main factors in causing the fire were the terrible circumstances in factories during the Gilded Age at that time. Everyone during this time was all fighting for a better workplace and a better profit for their hard work. Drehle supports his argument in a way that describes the hardships of each individual and their background throughout the story. The fire illustrates how the safety precautions were very weak and also poorly thought out throughout this time period in history. It also describes how evil and selfish the big business owners were who treated their workers like slaves to strive for wealth. Isaac Harris and Max Blanck who were owners of the Triangle factory who demanded that their employees produce twice as many products. “It was the practice of “sweating” workers- that is, squeezing out more work for less

During the harsh times of the 1890’s, the Newsboys were under severe oppression in the working place. This would change when they publicly challenge the authority of the corporate operation, ultimately leading to a shift in New York civil disputes and eventually helping to engulf the unfair working laws that were presented. This will and would lead the change of many civil minds and spark more impactful rebellions down the road.

The Market Revolution attempts to look at the United States in its most critical period. Beginning after the United States’ victory in the War of 1812, the focus shifts to how the United States will undergo rapid change with a new generation of Americans taking part in an emerging free market economy. The Market Revolution is written by Charles Sellers, a professor at the University of California, Berkeley. Sellers is an American history professor who has done extensive research of the nineteenth century United States. This century saw the transformation of the United States from an agrarian republic into an industrialized entrepreneurial power. Facing an identity crisis with the emergence of the free market as well as politics between the Federalists and Jeffersonian republicans is the beginning of Sellers’ thesis. With a focus on how the free market is responsible for this transformation, Sellers focuses on the family structure of the American society from subsistent farms

We study, in the last section of the book, while everyone was still out for blood; the proprietors of the Triangle Shirtwaist factory were tried for one of the deaths when the fire took place. The trial period and evidence was all over the place and were seen as innocent people. Still, the rest of the workers of New York really earned the benefits of the changes that the fire started. Stronger unions and stronger rules protecting buildings, owners, & finally the workers won.

Inventions such as firewalls, fireproof doors, sprinklers, and sturdier fire stairs were available but the company didn’t spend the money on them because there was not a workers compensation program set up. They didn’t install these devices for the simple fact that it was cheaper to pay the families of people killed a portion of their salary since there was no minimum wage. Additionally, the owners didn’t install sprinklers because it was common for them to set fire to their factory to collect insurance money. Previous to the deadly fire, the factory caught fire twice in 1902 before workers arrived. The installation of a sprinkler system would have stopped the ability for the owners to intentionally set their building on fire. From this lack of regulations costing a large number of lives, people protested. The protest drove government officials to create a commission to investigate factory safety. This commission investigated everything from wages, hours, child labor, and working conditions. When the investigations concluded thirty-six new laws were created along with various organizations to inspect and enforce these standards. The New York City Bureau of Fire prevention made it mandatory for fire alarms, extinguishers, and working hoses to be installed in factories.

The men thought it was a raid they all put their hands up and faced the wall. They were all quickly shot. The fingers were all pointed at Al but, Al had a strong alibi. He was meeting with his district attorney. So once again all charges were dropped.10

In his book Death in the Haymarket, James Green recounted the American labor movement in the late 1800s. The main focus of Green’s book was the bombing of Haymarket, which occurred on May 4 in 1886. Beginning as a peaceful protest promoting the eight-hour work day, a bomb was thrown causing devastating consequences. The Haymarket bombing almost ended the labor movement altogether, with unjustified trials and fear implemented amongst all Americans. However, it is important to know that the Haymarket bombing is not just an isolated event. From wage cuts to people going on strike, labor unions starting up, to almost losing the labor movement altogether. The Haymarket bombing was the fuse to an event larger bomb known as the labor movement.

Miners who were up to their necks in horrible treatment from their employers, an army of almost 10,000 mine workers have marched on Blair Mountain in Logan County and clashed with 3,000 coal supporters and police officers. The two divided groups clashed with rifles, machine guns and even planes dropped bombs. Dozens of people were killed. Unfortunately, the federal troops weren’t fast enough getting there. This was said to have been the largest labor uprising ever! Low wages caused this battle of death and destruction. Our unions are the backbone of these wars. They were being paid with mostly scrip, which can only be used within the company store. The war on Coal was getting worse. Basically, this battle had been the climax of our wars!

3 Haymarket Riot: In 1886, labor rights movements were on a course to change unconstitutional labor laws. At one of the rallies, an unknown person threw a bomb at the police, leading to eight deaths. With no evidence, the police persecuted multiple labor rights activists, setting back the progression of fair workplaces.

7. Compare your valuation with Smith Barney’s. What assumptions do you have to make to get the terminal value EBITDA multiples used by Smith Barney. Is there any benefit of their method relative to FCF method?