What combination of factors resulted in rapid US industrial growth in the late 1800’s? In the late 1800’s the US overtook Great Britain as the world’s largest source of manufactured goods Abundant natural resources
o The US was its own source of the raw materials necessary for industrialization o Coal, iron ore, copper, lead, timber, and oil Abundant labor supply
o High immigration between 1865 & 1900 o Increased supply of laborers and high demand for industrial jobs made labor cheap Capital (wealth or money) for investing in American businesses Laborsaving technological advances o 440,000 new patents were submitted by the US government from 1860 to 1890 Pro-Business government policies o Protection of private property
o Federal subsidies, loans, and land grants for railroads o Protective tariffs
o Very little federal regulation of business * Very low taxes on corporate profits
How did railroads impact American industrialization in late 1800’s? Railroads were the nation’s first “big business” * o Resources needed to build the nationwide network of railroads led to growth in other industries (especially coal and steel) * o Led to the development of the modern stock-holder corporation Cornelius Vanderbilt
* o Put millions from his steamboat business into the NY Central Railroad in 1867 * o Merged and “consolidated” local railroads into a trunk line connecting NY to Chicago * o Trunk lines major routes between large cities (Baltimore RR, Ohio RR, and Pennsylvania RR) Promoted settlement on the Great Plains Created one large national market by linking east and west
How did the federal government aid railroad expansion?
In order to promote western expansion the federal government provided railroad companies with huge subsidies in the form of loans and land grants o 80 companies received over 170 million acres of public land o Railroad companies received more than three times the land given away by the homestead act The Transcontinental Railroad
o During the Civil War Congress authorized land grants and loans for a transcontinental railroad connecting California to the rest of the Union o The Union Pacific company built from east to west across the Great Plains from Omaha, Nebraska Construction directed by General Greenville Dodge Used thousands of war veterans and Irish immigrants for labor o Central Pacific company built from west to east over the mountains from Sacramento Construction directed by Charles Crocker Used 6,000 Chinese immigrants as labor o The two companies met at Promontory Pont Utah on May 10, 1869 o A golden spike was driven into the ground to mark the linking of the Atlantic and Pacific states
What type of technological innovations contributed to rapid industrialization in the late 1800’s? Railroads: rapid transportation Telegraph: invented by Samuel Morse in 1844 o Cyrus W. Field’s transatlantic cable improved overseas communication in 1866 o By 1900 telegraph lines linked all continents in a global network of cables Telephone: invented by Alexander Graham Bell in 1876 Other inventions that improved business: typewriter (1867), cash register (1879), calculating machine (1887), adding machine (18880 Consumer use inventions: George Eastman’s Kodak Camera (1888), Lewis Waterman’s fountain pen (1884), King Gillette’s safety razor (1895) Thomas Edison...
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