WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
ROBBER BARONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It looked more and more to the outsider as if henceforth Mr. Rockefeller was going to have things his own way, for who was there to interfere with him, to dispute his position? No one, save that back in Northwestern Pennsylvania, in scrubby little oil towns, around greasy derricks, in dingy shanties, by rusty deserted oil stills, men still talked of the iniquity of the railroad rebate, the injustice of restraint of trade, the dangers of monopoly. . .”
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Captain of Industry
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Robber Baron
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -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.
Detailed explanation-2: -By 1880, Standard Oil owned or controlled 90 percent of the U.S. oil refining business, making it the first great industrial monopoly in the world. But in achieving this position, Standard violated its Ohio charter, which prohibited the company from doing business outside the state.
There is 1 question to complete.