The Advance of Communication and Transportation in the Late Nineteenth Century

Topics: Economics, Federal government of the United States, Money Pages: 2 (830 words) Published: October 9, 2012
In the time of the late nineteenth century, the telecommunication revolution, or globalization, was beginning to make its start in American history. Communication and transportation was becoming faster with the new advances in the technological world. This made large businesses grow, creating large fortunes from the new railroad business However, the farmers if America took a hard hit ti these advances. Food prices were decreasing, and farmers were producing more crops than the economy could consume. Because if the changes in economy, the farmers had grown in discontent with the government, and the fingers were being pointed at the large scale business leaders. In the late nineteenth century, the farmers had a valid reason that big businesses were decreasing away the profits of their work, and into the railroad companies and that banks were taking advantage of the farmers, causing the great agrarian discontent. As the conclusion of the nineteenth century rolled in to the twentieth, deflation was becoming a greater issue to deal with for farmers throughout America. Money supply was one of the problems farmers believed were the reason to their discontent. As the years went by, houses were being foreclosed due to the high mortgage rate the government put on the farmers, which they couldn't keep up with. The people party, or otherwise known as the populist party, saw that is the American government would begin coining and using silver as currency, the foreclosures and discontent would cease. However politicians felt differently. They believe that in would make matters much worse than it already was. The fact was, that the government wanted the railroad business to stay strong and in order to do that, rates had to be raised. An example of a scam, the farmers were told that they would get a two cent shipping rate on their cropped goods. Instead, the rate was raised to five cents, making it impossible for many farmers to afford. Industrialization was very successful...
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