Chapter 17 An Industrial Giant

What factors contributed to industrial growth in the late nineteenth century?

o Cheap labour
How did railroads affect the development of the American economy?
o Reliable land transportation
Road had too much problems land clearing, maintenance
Cattle transportation
What was the importance of technological developments in the railroad, steel,
petroleum, telephone, and electric light industries?
How did competition and deflation affect the pricing practices of railroads?
o Brought down the prices of goods
What forces led to economic concentration in industry?
Analyse the ambivalent reactions of Americans to big business.
Discuss the different approaches taken by various reformers and critics of big
business.
In what ways did government attempt to regulate business?
What role did the courts play in shaping government regulation of business?
o Favoured employers
Describe the growth of the union movement after the Civil War.
o Before CW
No workers protested and thought it was part of working hard
No day off, long working hours sees this as a work ethic
o After CW
Joined unions

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