Encyclopedia of american business history part 18 pptx

1670 • Hudson’s Bay Co. chartered by British Crown 1784 • Bank of New York founded 1790 • U.S. Patent Office created 1791 • First Bank of the United States founded 1792 • Buttonwood Agreement signed, forms early stock exchange in New York • Lancaster Turnpike opened in Pennsylvania 1793 • cotton gin invented 1800 • Congress passes first U.S. bankruptcy law 1802 • DuPont de Nemours & Co. founded 1807 • first steamboat, the Clermont, begins service in New York on Hudson River 1817 • Second Bank of the United States founded (rechartered) 1824 • Gibbons v. Ogden Supreme Court decision 1825 • Erie Canal completed 1836 • Colt Firearms Co. founded 1837 • stock market crash (or panic) 1840 • mechanical reaper produced by Cyrus McCormick 1844 • Samuel Morse successfully demonstrates the first telegraph 1847 • John Deere & Co. founded 1848 • Chicago Board of Trade founded • gold discovered at Sutter’s Mill, California 1851 • Singer Sewing Co. founded • Western Union Telegraph Co. founded 1852 • Wells Fargo organized 1857 • stock market crash (or panic) 1858 • first transatlantic cable laid 491 CHRONOLOGY 492 Chronology 1859 • Great Atlantic & Pacific Tea Co. founded 1864 • Congress passes National Bank Act 1867 • first ticker tape introduced • first typewriter patented 1869 • east-west railroad link completed at Promon- tory, Utah • John Wanamaker & Co. opens 1872 • Montgomery Ward opens first mail-order house 1876 • Alexander Graham Bell receives patent for telephone 1878 • Bell Telephone Company formed • General Electric Company founded as Edison Electric 1879 • F. W. Woolworth opens first store 1880 • B. F. Goodrich Co. founded 1881 • Wharton School established at University of Pennsylvania 1884 • W. Duke Sons & Co. opened in New York City • Westinghouse Electric founded 1886 • Coca-Cola founded • Sears, Roebuck founded 1888 • George Eastman produces first Kodak camera 1889 • Wall Street Journal founded 1890 • Congress passes Sherman Antitrust Act • J. P. Morgan & Co. founded after death of Junius S. Morgan 1892 • strike at Homestead Steel plant of Carnegie Steel • U.S. Rubber Company founded 1893 • J. P. Morgan assists Treasury in raising gold 1896 • first Dow Jones Industrial Average appears • IBM Corp. formed as the Tabulating Machine Co. 1900 • National Negro Business League convenes for first time • Weyerhaeuser Co. founded 1901 • United States Steel Corp. formed 1903 • Ford Motor Co. founded • Wright brothers make their first flight at Kitty Hawk, North Carolina 1904 • Bank of America founded in California as the Bank of Italy 1908 • General Motors Corp. founded • Harvard Business School established 1911 • Supreme Court orders breakup of Standard Oil and American Tobacco Chronology 493 1913 • Congress passes Federal Reserve Act • Congress creates first permanent income tax 1914 • Clayton Act passed • Federal Trade Commission created • New York Stock Exchange and other exchanges closed • Panama Canal opened 1915 • Carrier Air Conditioning Co. founded 1916 • William Boeing starts his company 1919 • Congress passes Volstead Act • Radio Corp. of America founded as a sub- sidiary of General Electric 1921 • Chrysler Corporation founded 1923 • Alfred Sloan becomes chief executive of Gen- eral Motors • Walt Disney founds cartoon studio in Hollywood 1925 • Congress passes the Air Mail Act of 1925, allowing the government to hire private air carriers to deliver the mail 1927 • Congress passes McFadden Act 1928 • Columbia Broadcasting System founded 1929 • stock market crashes (October) 1930 • Congress passes Hawley-Smoot Tariff 1931 • United Airlines incorporated 1932 • Congress creates Reconstruction Finance Corp. • Congress creates the Federal Home Loan Bank Board 1933 • Banking (Glass-Steagall) Act passed • Securities Act passed • Congress creates Tennessee Valley Authority • Volstead Act repealed 1934 • Congress passes National Labor Relations Act • Federal Communications Commission formed • Congress passes Gold Reserve Act • Securities Exchange Act passed 1935 • Eccles Act strengthens Federal Reserve powers • NIRA declared unconstitutional • Public Utility Holding Company Act passed 1937 • Congress creates the NASD 1938 • Civil Aeronautics Act releases the airlines from the control of the U.S. Post Office Department and establishes the Civil Aero- nautics Board as the airlines regulating agency 1944 • Bretton Woods agreement signed 1947 • Congress passes Taft-Hartley Act 1950 • first Walton store opened as Walton’s Five & Dime 1955 • the AFL merges with the CIO 1964 • first Visa card appears 494 Chronology 1971 • United States cuts fixed gold content of dollar 1972 • foreign exchange rates begin floating; Bretton Woods system collapses 1974 • Microsoft Corp. founded 1975 • Wall Street adopts negotiable commission structure 1978 • Congress passes Airline Deregulation Act 1979 • Federal Reserve changes U.S. monetary policy 1980 • Depository Institutions Deregulation and Monetary Control Act passed 1982 • Congress passes Depository Institutions Act 1984 • AT&T monopoly broken up; regional Bell companies become independent 1986 • Congress passes Tax Reform Act 1987 • stock market records largest drop in history 1989 • savings and loan crisis • Congress creates Financial Institutions Reform, Recovery and Enforcement Act • Internet organized as World Wide Web 1990 • Drexel Burnham collapses 1991 • Pan Am Airways declares bankruptcy • Eastern Airlines shuts down all flight operations 1993 • Orange County, California, bankrupt because of derivatives transactions 1994 • interstate banking permitted by Congress • NAFTA becomes effective 1997 • Boeing merges with McDonnell Douglas Cor- poration, making it the largest aerospace firm in the world 1998 • Long-Term Capital Management collapses • Travelers Insurance and Citibank merge 1999 • Financial Services Modernization Act passed 2000 • Chase Manhattan and J. P. Morgan merge 2001 • stock market collapses after 9/11 attack • AOL merges with Time Warner • Enron Corp. collapses • American Airlines acquires TWA, making American the largest U.S. commercial airline 2002 • Congress passes Sarbanes-Oxley Act • United Airlines declares bankruptcy • WorldCom files for bankruptcy protection 2004 • New York Attorney General Eliot Spitzer brings civil action against mutual funds and the insurance industry 2005 • New York Stock Exchange and NASDAQ announce plans to merge with electronic trading networks 495 1. Hudson’s Bay Company Charter, 1670 2. Alexander Hamilton, Report on the Subject of Manufactur es, 1791 3. Constitution of the American Federation of Labor , 1886 4. Interstate Commerce Act, 1887 5. Andrew Carnegie, “Wealth,” 1889 6. Sherman Antitrust Act, 1890 7. Pure Food and Drug Act, 1906 8. Standard Oil Company of New Jersey et al. v. United States, 1911 9. Clayton Antitrust Act, 1914 10. Franklin D. Roosevelt, “Forgotten Man” Radio Speech, 1932 11. Securities Exchange Act, 1934 12. National Labor Relations Act, 1935 13. Dwight D. Eisenhower’s “Military-Industrial Complex” Address, 1961 14. Ronald Reagan’s Address to the Nation on the Economy, 1981 15. United States v. Microsoft, 2000 1. HUDSON’S BAY COMPANY CHARTER, 1670 Royal charter for incorporating the Hudson’s Bay Company, granted on May 2, 1670, by England’s King Charles II. It gave this English fur-trading company wide proprietary rights to territory sur- rounding “Hudson’s Bay” and to all lands drained by rivers flowing into it. The charter allowed the company to make laws for the “lands aforesaid” and to send warships and armed men “into any of their (the company’s) plantations, forts, factories, or places of trade aforesaid, for the security and defense of the same.” Two Frenchmen who founded the company—Pierre Esprit Radisson and Medard Chouart (Sieur des Groseilliers)—had been unable to interest French authorities in the fur-trading route through Hudson Bay and had turned to Prince Rupert, a cousin of Charles II, who secured the charter. The company eventually maintained trad- ing posts throughout Canada and a few forts on U.S. soil; it still exists, but without its original monopolistic, territorial, and administrative rights. ___________________ h ___________________ THE ROYAL CHARTER FOR INCORPORATING THE HUDSON’S BAY COMPANY, A.D. 1670 Charles the Second By the grace of God King of England Scotland France and Ir eland defender of the faith &c To All to whome these presentes shall come greeting Whereas Our Deare and entirely Beloved Cousin Prince Rupert Count Palatyne of the Rhyne Duke of Bavaria and Cum- berland &c Christopher Duke of Albemarle William Earle of Craven Henry Lord Arlington Anthony Lord Ashley Sir John Robinson and Sir Robert Vyner Knightes and Baronettes Sir Peter Colliton Baronett Sir Edward Hungerford Knight of the Bath Sir Paul Neele Knight Sir John Grif- fith and Sir Phillipp Carteret Knightes James SELECTED PRIMARY DOCUMENTS Hayes John Kirke Francis Millington William Prettyman John Fenn Esquires and John Port- man Cittizen and Goldsmith of London have at theire owne great cost and charge undertaken an Expedicion for Hudsons Bay in the North west part of America for the discovery of a new Pas- sage into the South Sea and for the finding some Trade for Furrs Mineralls and other considerable Commodityes and by such theire undertakeing have already made such discoveryes as doe encourage them to proceed further in pursuance of theire said designe by meanes whereof there may probably arise very great advantage to us and our Kingdome And whereas the said under- takers for theire further encouragement in the said designe have humbly besought us to Incor- porate them and grant unto them and theire suc- cessors the sole Trade and Commerce of all those Seas Streightes Bayes Rivers Lakes Creekes and Soundes in whatsoever Latitude they shall bee that lye within the entrance of the Streightes commonly called Hudsons Streightes together with all the Landes Countryes and Territoryes upon the Coastes and Confynes of the Seas Streightes Bayes Lakes Rivers Creekes and Soundes aforesaid which are not now actually possessed by any of our Subjectes or by the Sub- jectes of any other Christian Prince or State Now know yee that Wee being desirous to promote all Endeavours tending to the publique good of our people and to encourage the said undertakeing have of our especiall grace certaine knowledge and meere mocion Given granted ratifyed and confirmed And by these Presentes for us our heires and Successors doe give grant ratifie and confirme unto our said Cousin Prince Rupert Christopher Duke of Albemarle William Earle of Craven Henry Lord Arlington Anthony Lord Ashley Sir John Robinson Sir Robert Vyner Sir Peter Colleton Sir Edward Hungerford Sir Paul Neile Sir John Griffith and Sir Phillipp Carterett James Hayes John Kirke Francis Millington William Prettyman John Fenn and John Portman That they and such others as shall bee admitted into the said Society as is hereafter expressed shall bee one Body Corporate and Politique in deed and in name by the name of the Governor and Company of Adventures of England tradeing into Hudsons Bay and them by the name of the Governor and Company of Adventurers of Eng- land tradeing into Hudsons Bay one Body Cor- porate and Politique in deede and in name really and fully for ever for us our heirs and successors Wee doe make ordeyne constitute establish con- firme and declare by these Presentes and that by the same name of Governor & Company of Adventurers of England Tradeing into Hudsons Bay they shall have perpetuall succession And that they and theire successors by the name of the Governor and Company of Adventurers of England tradeing into Hudsons Bay bee and at all tymes hereafter shall bee persons able and capa- ble in Law to have purchase receive possesse enjoy and reteyne Landes Rentes priviledges lib- ertyes Jurisdiccions Franchyses and heredita- mentes of what kinde nature and quality soever they bee to them and theire Successors And alsoe to give grant demise alien assigne and dispose Landes Tenementes and hereditamentes and to doe and execute all and singuler other thinges by the same name that to them shall or may apperteyne to doe And that they and theire Suc- cessors by the name of the Governor and Com- pany of Adventurers of England Tradeing into Hudsons Bay may pleade and bee impleaded answeare and bee answeared defend and bee defended in whatsoever Courtes and places before whatsoever Judges and Justices and other persons and Officers in all and singuler Accions Pleas Suitts Quarrells causes and demandes whatsoever of whatsoever kinde nature or sort in such manner and forme as any other our Liege people of this our Realme of England being per- sons able and capable in Lawe may or can have purchase receive possesse enjoy reteyne give grant demise alien assigne dispose pleade and bee defended doe permitt and execute And that the said Governor and Company of Adventurers of England Tradeing into Hudsons Bay and theire successors may have a Common Seale to serve 496 Selected Primary Documents for all the causes and busnesses of them and theire Successors and that itt shall and my bee lawful to the said Governor and Company and theire Successors the same Seall from tyme to tyme at theire will and pleasure to breake change and to make a new or alter as to them shall seeme expedient And further Wee will And by these presentes for us our Heires and successors Wee doe ordeyne that there shall bee from henceforth one of the same Company to bee elected and appointed in such forme as hereafter in these presentes is expressed which shall be called The Governor of the said Company And that the said Governor and Company shall or may elect seaven of theire number in such forme as here- after in these presentes is expressed which shall bee called the Comittee of the said Company which Comittee of seaven or any three of them together with the Governor or Deputy Governor of the said Company for the tyme being shall have the direccion of the Voyages of and for the said Company and the Provision of the Shipping and Merchandizes thereunto belonging and alsoe the sale of all merchandizes Goodes and other thinges returned in all or any the Voyages or Shippes of or for the said Company and the man- nageing and handleing of all other busness affaires and thinges belonging to the said Com- pany And Wee will ordeyne and Grant by these presentes for us our heires and successors unto the said Governor and Company and theire suc- cessors that they the said Governor and Com- pany and theire successors shall from henceforth for ever bee ruled ordered and governed accord- ing to such manner and forme as is hereafter in these presentes expressed and not otherwise And that they shall have hold reteyne and enjoy the Grantes Libertyes Priviledges Jurisdiccions and Immunityes only hereafter in these presentes granted and expressed and noe other And for the better execucion of our will and Grant in this behalfe Wee have assigned nominated consti- tuted and made And by these presentes for us our heires and successors Wee doe assigne nom- inate constitute and make our said Cousin Prince Rupert to bee the first and present Governor of the said Company and to continue in the said Office from the date of these presentes untill the tenth of November then next following if hee the said Prince Rupert shall soe long live and soe untill a new Governor bee chosen by the said Company in forme hereafter expressed And alsoe Wee have assigned nominated and appointed And by these presentes for us our heires and Suc- cessors Wee doe assigne nominate and constitute the said Sir John Robinson Sir Robert Vyner Sir Peter Colleton James Hayes John Kirke Francis Millington and John Portman to bee the seaven first and present Committees of the said Com- pany from the date of these presentes untill the said tenth Day of November then alsoe next fol- lowing and soe untill new Committees shall bee chosen in forme hereafter expressed And further Wee will and grant by these presentes for us our heires and Successors unto the said Governor and Company and theire successors that itt shall and may bee lawfull to and for the said Governor and Company for the tyme being or the greater part of them present at any publique Assembly commonly called the Court Generall to bee holden for the said Company the Governor of the said Company being alwayes one from tyme to tyme to elect nominate and appoint one of the said Company to bee Deputy to the said Gover- nor which Deputy shall take a corporall Oath before the Governor and three or more of the Committee of the said Company for the tyme being well truely and faithfully to execute his said Office of Deputy to the Governor of the said Company and after his Oath soe taken shall and may from tyme to tyme in the absence of the said Governor exercize and execute the Office of Gov- ernor of the said Company in such sort as the said Governor ought to doe And further Wee will and Grant and by these presentes for us our heires and Successors unto the said Governor and Company of Adventurers of England trade- ing into Hudsons Bay and theire Successors That they or the greater part of them whereof the Gov- ernor for the Tyme being or his Deputy to bee Selected Primary Documents 497 one from tyme to tyme and at all tymes hereafter shall and may have authority and power yearely and every yeare betweene the first and last day of November to assemble and meete together in some convenient place to bee appointed from tyme to tyme by the Governor or in his absence by the Deputy of the said Governor for the tyme being And that they being soe assembled itt shall and may bee lawfull to and for the said Governor or Deputy of the said Governor and the said Company for the tyme being or the greater part of them which then shall happen to bee present whereof the Governor of the said Company or his Deputy for the tyme being to bee one to elect and nominate one of the said Company which shall be Governor of the same Company for one whole yeare then next following which person being soe elected and nominated to bee Gover- nor of the said Company as is aforesaid before hee bee admitted to the Execucion of the said Office shall take a Corporall Oath before the last Governour being his Predecessor or his Deputy and any three or more of the Committee of the said Company for the tyme being that hee shall from tyme to tyme well and truely execute the Office of Governour of the said Company in all thinges concerneing the same and that Ymedi- ately after the same Oath soe taken hee shall and may execute and use the said Office of Governor of the said Company for one whole yeare from thence next following and in like sort Wee will and grant that aswell every one of the above named to bee of the said Company or fellowship as all other hereafter to bee admitted or free of the said Company shall take a Corporall Oath before the Governor of the said Company or his Deputy for the tyme being to such effect as by the said Governor and Company or the greater part of them in any publick Court to bee held for the said Company shall bee in reasonable and legall manner sett down and devised before they shall bee allowed or admitted to Trade or traffique as a freeman of the said Company And further Wee will and grant by these presentes for us our heires and successors unto the said Governor and Company and theire successors that the said Governor or Deputy Governor and the rest of the said Company and theire successors for the tyme being or the greater part of them whereof the Governor or the Deputy Governor from tyme to tyme to bee one shall and may from tyme to tyme and at all tymes hereafter have power and authority yearely and every yeare betweene the first and last day of November to assemble and meete together in some convenient place from tyme to tyme to be appointed by the said Gov- ernour of the said Company or in his absence by his Deputy and that they being soe assembled itt shall and may bee lawfull to and for the said Gov- ernor or his Deputy and the Company for the tyme being or the greater part of them which then shall happen to bee present whereof the Governor of the said Company or his Deputy for the tyme being to bee one to elect and nominate seaven of the said Company which shall bee a Committee of the said Company for one whole yeare from thence next ensueing which persons being soe elected and nominated to bee a Com- mittee of the said Company as aforesaid before they bee admitted to the execucion of theire Office shall take a Corporall Oath before the Governor or his Deputy and any three or more of the said Committee of the said Company being theire last Predecessors that they and every of them shall well and faithfully performe theire said Office and Committees in all thinges con- cerneing the same And that imediately after the said Oath soe taken they shall and may execute and use theire said Office of Committees of the said Company for one whole yeare from thence next following And moreover Our will and pleas- ure is And by these presentes for us our heires and successors Wee doe grant unto the said Gov- ernor and Company and theire successors that when and as often as itt shall happen the Gover- nor or Deputy overnor of the said Company for the tyme being at any tyme within one yeare after that hee shall bee nominated elected and sworne to the Office of the Governor of the said Com- pany as is aforesaid to dye or to bee removed 498 Selected Primary Documents from the said Office which Governor or Deputy Governor not demeaneing himselfe well in his said Office Wee will to bee removeable at the Pleasure of the rest of the said Company or the greater part of them which shall bee present at theire publick assemblies commonly called theire Generall Courtes holden for the said Com- pany that then and soe often itt shall and may be lawfull to and for the Residue of the said Com- pany for the tyme being or the greater part of them within convenient tyme after the death or removeing of any such Governor or Deputy Gov- ernor to assemble themselves in such convenient place as they shall thinke fitt for the election of the Governor or Deputy Governor of the said Company and that the said Company or the greater part of them being then and there present shall and may then and there before theire depar- ture from the said place elect and nominate one other of the said Company to bee Governour or Deputy Governor for the said Company in the place and stead of him that soe dyed or was removed which person being soe elected and nominated to the Office of Governor or Deputy Governor of the said Company shall have and exercize the said Office for and dureing the residue of the said yeare takeing first a Corporall Oath as is aforesaid for the due execucion thereof And this to bee done from tyme to tyme soe often as the case shall soe require And also Our Will and Pleasure is and by these presentes for us our heires and successors Wee doe grant unto the said Governor and Company that when and as often as itt shall happen any person or persons of the Committee of the said Company for the tyme being at any tyme within one yeare next after that they or any of them shall bee nominated elected and sworne to the Office of Commitee of the said Company as is aforesaid to dye or to be removed from the said Office which Committees not demeaneing themselves well in theire said Office Wee will to be removeable at the pleasure of the said Governor and Company or the greater part of them whereof the Governor of the said Company for the tyme being or his Deputy to bee one that then and soe often itt shall and may bee lawfull to and for the said Governor and the rest of the Company for the tyme being or the greater part of them whereof the Governor for the tyme being or his Deputy to bee one within convenient tyme after the death or removeing of any of the said Committee to assemble themselves in such convenient place as is or shall bee usuall and accustomed for the eleccion of the Governor of the said Company or where else the Governor of the said Company for the tyme being or his Deputy shall appoint And that the said Governor and Company or the greater part of them whereof the Governor for the tyme being or his Deputy to bee one being then and there present shall and may then and there before theire Departure from the said place elect and nominate one or more of the said Company to bee of the Committee of the said Company in the place and stead of him or them that soe died or were or was soe removed which person or persons soe elected and nominated to the Office of Committee of the said Company shall have and exercize the said Office for and dureing the residue of the said yeare takeing first a Corporall Oath as is afore- said for the due execucion thereof and this to bee done from tyme to tyme soe often as the case shall require And to the end the said Governor and Company of Adventurers of England Trade- ing into Hudsons Bay may bee encouraged to undertake and effectually to prosecute the said designe of our more especial grace certaine knowledge and meere Mocion Wee have given granted and confirmed And by these presentes for us our heires and successors doe give grant and confirme unto the said Governor and Com- pany and theire successors the sole Trade and Commerce of all those Seas Streightes Bayes Rivers Lakes Creekes and Soundes in whatsoever Latitude they shall bee that lie within the entrance of the Streightes commonly called Hud- sons Streightes together with all the Landes and Territoryes upon the Countryes Coastes and con- fynes of the Seas Bayes Lakes Rivers Creekes and Soundes aforesaid that are not already actually Selected Primary Documents 499 500 Selected Primary Documents possessed by or granted to any of our Subjectes or possessed by the Subjectes of any other Chris- tian Prince or State with the Fishing of all Sortes of Fish Whales Sturgions and all other Royall Fishes in the Seas Bayes Isletes and Rivers within the premisses and the Fish therein taken together with the Royalty of the Sea upon the Coastes within the Lymittes aforesaid and all Mynes Roy- all aswell discovered as not discovered of Gold Silver Gemms and pretious Stones to bee found or discovered within the Territoryes Lymittes and Places aforesaid And that the said Land bee from henceforth reckoned and reputed as one of our Plantacions or Colonyes in America called Ruperts Land And further Wee doe by these pre- sentes for us our heir es and successors make cre- ate and constitute the said Governor and Company for the tyme being and theire succes- sors the true and absolute Lordes and Proprietors of the same Territory lymittes and places afore- said And of all other the premisses saving alwayes the faith Allegiance and Soveraigne Dominion due to us our heires and successors for the same To have hold possesse and enjoy the said Territory lymittes and places and all and sin- guler other the premisses hereby granted as aforesaid with theire and every of their Rightes Members Jurisdictions Prerogatives Royaltyes and Appurtenances whatsoever to them the said Governor and Company and theire Successors forever to bee holden of us our heires and suc- cessors as of our Mannor of East Greenwich in our Country of Kent in free and common Soccage and not in Capite or by Knightes Service yeilding and paying yearely to us our heires and Successors for the same two Elkcs and two Black beavers whensoever and as often as Wee our heires and successors shall happen to enter into the said Countryes Territoryes and Regions hereby granted And further our will and pleasure is And by these presentes for us our heires and successors Wee doe grant unto the said Governor and Company and to theire successors that itt shall and may be lawfull to and for the said Gov- ernor and Company and theire successors from tyme to tyme to assemble themselves for or about any the matters causes affaires or businesses of the said Trade in any place or places for the same convenient within our Dominions or elsewhere and there to hold Court for the said Company and the affaires thereof And that alsoe itt shall and may bee lawfull to and for them and the greater part of them being soe assembled and that shall then and there bee present in any such place or places whereof the Governor or his Deputy for the tyme being to bee one to make ordeyne and constitute such and soe many rea- sonable Lawes Constitucions Orders and Ordi- nances as to them or the grater part of them being then and there present shall seeme neces- sary and convenient for the good Government of the said Company and of all Governors of Colonyes Fortes and Plantacions Factors Masters Mariners and other Officers employed or to bee employed in any of the Territoryes and Landes aforesaid and in any of theire Voyages and for the better advancement and contynuance of the said Trade or Traffick and Plantacions and the same Lawes Constitucions Orders and Ordinances soe made to putt in use ad execute accordingly and at theire pleasure to revoke and alter the same or any of them as the occasion shall require And that the said Governor and Company soe often as they shall make ordeyne or establish any such Lawes Constitucions Orders and Ordinances in such forme as aforesaid shall and may lawfully impose ordeyne limitt and provide such paines penaltyes and punishmentes upon all Offenders contrary to such Lawes Constitucions Orders and Ordinances or any of them as to the said Governor and Company for the tyme being or the greater part of them then and there being present the said Governor or his Deputy being alwayes one shall seeme necessary requisite or convenient for the observacion of the same Lawes Constitucions Orders and Ordinances And the same Fynes and Amerciamentes shall and may by theire Officers and Servantes from tyme to tyme to bee appointed for that purpose levy take and have to the use of the said Gover- nor and Company and theire successors without the impediment of us our heires or successors or [...]... separation of the occupation of the cultivator, from that of the Artificer, has the effect of augmenting the productive powers of labour, and with them, the total mass of the produce or revenue of a Country In this single view of the subject, therefore, the utility of Artificers or Manufacturers, towards promoting an increase of productive industry, is apparent II As to an extension of the use of Machinery... efforts of industry? All which is humbly submitted Source: Harold C Syrett, ed The Papers of Alexander Hamilton New York: Columbia University Press, 1961-87 3 CONSTITUTION OF THE AMERICAN FEDERATION OF L ABOR , 188 6 Charter of organization for the American Federation of Labor (AFL), the association of trade unions formed in December 188 6 at a national labor convention in Columbus, Ohio Delegates of the... two-thirds vote of the delegates, and must be ratified within six weeks thereafter, by a majority vote of the members of the societies composing this Federation Sec 2 This Constitution shall go into effect March 1st, 188 7 Source: Report of the Sixth Annual Session of the Federation of Organized Trades and Labor Unions of the United States and Canada Official Archives of the American Federation of Labor and... arguments on both sides of the protection question h _ _ To the Speaker of the House of Representatives The Secretary of the Treasury in obedience to the order of ye House of Representatives, of the 15th day of January 1790, has applied his attention, at as early a period as his other duties would permit, to the subject of Manufactures; and particularly to the means of promoting such as... point which though partly anticipated requires to be placed in one or two additional lights The employment of Machinery forms an item of great importance in the general mass of national industry ‘Tis an artificial force brought in aid of the natural force of man; and, to all the purposes of labour, is an increase of hands; an accession of strength, unincumbered too by the expence of maintaining the... invitations of a better price for their fabrics, or their labour, of greater cheapness of provisions and raw materials, of an exemption from the chief part of the taxes burthens and restraints, which they endure in the old world, of greater personal independence and consequence, under the operation of a more equal government, and of what is far more precious than mere religious toleration—a perfect equality of. .. form some estimate of the possibilities for the improvement of the race which lie embedded in the present law of the accumulation of wealth Much of this sum, if distributed in small quantities among the people, would have been wasted in the indulgence of appetite, some of it in excess; and it may be doubted whether even the part put to the best use, that of adding to the comforts of the home, would... means of Subsistence habitation clothing and defence The possession of these is necessary to the perfection of the body politic, to the safety as well as to the welfare of the society; the want of either, is the want of an important organ of political life and Motion; and in the various crises which await a state, it must severely feel the effects of any such deficiency The extreme embarrassments of the... children and many of them of a very tender age And thus it appears to be one of the attributes of manufactures, and one of no small con- Selected Primary Documents sequence, to give occasion to the exertion of a greater quantity of Industry, even by the same number of persons, where they happen to prevail, than would exist, if there were no such establishment IV As to the promoting of emigration from... President: 1st, Credentials; 2d, Rules and Order of Business; 3d, Resolutions; 4th, Finance; 5th, Report of Executive Council Sec 4 Should a vacancy in any office occur between the annual meetings of the Convention, such vacancies shall be filled by the President of the Federation, by and with consent of the Executive Council When a vacancy occurs in the office of President, the Vice-Presidents shall succeed . Subject of Manufactur es, 1791 3. Constitution of the American Federation of Labor , 188 6 4. Interstate Commerce Act, 188 7 5. Andrew Carnegie, “Wealth,” 188 9 6. Sherman Antitrust Act, 189 0 7. Pure. Bank of the United States founded (rechartered) 182 4 • Gibbons v. Ogden Supreme Court decision 182 5 • Erie Canal completed 183 6 • Colt Firearms Co. founded 183 7 • stock market crash (or panic) 184 0 •. and in name by the name of the Governor and Company of Adventures of England tradeing into Hudsons Bay and them by the name of the Governor and Company of Adventurers of Eng- land tradeing into