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An Industrial Giant
Industrial Growth
o Essentials in industrial growth
Cheap labour
Natural resources / Raw materials textile; cotton
Inventions technological improvements
Growth in national market high tariffs on imported goods
Led to many people preferring on local goods - protectionism
Increase in foreign and local capital investors
o Examples?
Railroads
o Pushed other industries to emerge
o Systems, equipment, time zones, powerful men
o Land grants and impact
Iron, oil, electricity
o Iron manufacturing techniques!
Steel
Brooklyn Bridge first suspension bridge
o Links Brooklyn and Manhattan
High rise buildings & elevators
o Supplies for?
Coal
Pittsburgh large coal mine
o Petroleum refining?
Kerosene
Competition and Monopoly
o Cost and competition
Offers rebates and discount in railroad
o Andrew Carnegie
Company bought by JP Morgan as Andrew wanted to retire US Steel
Didnt want to die as a rich man so he founded the Carnegie
Foundation for the Advancement of Teaching
o Standard Oil trust!
John D. Rockefeller
American ambivalence response from American public
o Laissez-faire and Darwins efficiency
o Increase in government regulation
Reformers
o George, Bellamy, Lloyd, Karl Marx
Government response
o Munn v. Illinois and ICC, Sherman anti-trust
Sherman anti-trust
Targeted to break standard oil company
o They were getting rid of their competitors
o Union
NLU
Knights of Labor
Haymarket
AFLs members? And militancy (Homestead and Pullman)
American Federation of Labor
Effects of big business!
Quiz 1
1. What were the factors that made Americas economy on par with the European
countries?
2. Rockefeller Oil
3. Thomas Edison - Electricity
4. Andrew Carnegie Steel
5. ^ what did they do to get the edge over many competitors
6. ^ their contribution and the bad things that they have done both sides of their
doings