Free Flashcard From HIST 2112 MidTerm
Standard Oil Company
Founded in 1870 by Rockefeller in Cleveland, Ohio, it grew itno the U.S.'s first industry dominating trust in 1881. Rockefeller used bribes, threats, and spies to build his empire through consolidation. Other industries, such as sugar and whiskey, followed suit and formed trusts. Consolidation became the wave of the future, and along with it came extreme corruption and growing gap between the rich and the poor. The Sherman Anti-trust Act was created to curb abuses, and in doing so changed the way America did business.