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Homestead Act
Provided that any adult citizen, or intended citizen, who had never borne arms against the U.S. government could claim 160 acres of surveyed government land. -
Standard Oil Company
John D. Rockefeller formed the Standard Oil Company on January 10, 1870 with his business partners and brother. The success of this business empire made Rockefeller one of the world's first billionaires and a celebrated philanthropist. -
Carnegie Imitates Bessemer Steel
After visiting Henry Bessemer's steel plant in England, and noting the demand in Britain for steel rails, Andrew Carnegie returns to America intent on expanding his steel business. -
Panic of 1873
The collapse of Jay Cooke and Company, a Philadelphia investment bank, triggers a nationwide financial panic that leads to a broader economic depression which lasts until 1879. -
Railroad Strike of 1877
Brakemen and firemen from the Baltimore & Ohio Railroad, initiating a wildcat strike that will shut down thousands of miles of track throughout the northeastern United States. -
Garfield Assassination
President James Garfield is shot by Charles Guiteau, a deranged federal office-seeker. Garfield will die on September 19th. Vice President Chester A. Arthur will be sworn is as president one day later. -
Pendleton Act
Hoping to reduce corruption in the distribution of government jobs, the United States Congress passes the Pendleton Act, introducing an examination system for selecting federal civil servants. Only 10% of all federal appointees are made subject to this process of selection by examination. -
Homestead Steel Strike
Henry Frick, Chairman of the Board of Carnegie Steel and plant manager at Carnegie's Homestead steel plant, shuts down the factory and locks out its employees when negotiations with representatives from the Amalgamated Association of Steel and Iron Workers break down. -
Pullman Strike
Workers employed at the Pullman Company, outside of Chicago, go on strike when the company's owner, George Pullman, refuses to reduce rents in the company housing to match announced wage cuts. -
J.P. Morgan's U.S. Steel
United States Steel, J.P. Morgan's holding company, which includes the recently acquired Carnegie Steel, is chartered by the state of New Jersey.