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History Outlines Exam 1

History Outlines Exam 1 - ESSAY 2 Discuss the factors that...

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ESSAY 2 Discuss the factors that contributed to the rapid industrialization of America during the late 19 th and early 20 th centuries I. Intro II. Raw Materials and Technology a. Iron ore make steel : Bessemer Process b. Coal – necessary to run the factories c. Oil- profitable business used in lamps d. 1859 – 1 st oil drill e. Communications i. 1890s: telephone, cash registers, caclculators f. Electricity i. Street cars ii.Night life iii.DC current could only reach certain distance iv.Westinghouse challenged patent of lightbulb v.Edison tried to make people think AC was unsafe 1. Electicuted animals and made electric chair vi.Most Americans wanted AC - helped modernize III. Population and Mass Consumption a. More people move to cities to get jobs b. Big immigrant population taking jobs c. People start to nationalize economy d. Mass production e. Packaging – kelloggs f. Chain stores – Woolworths and A&P g. Department Stores – Macy’s IV. Running Business and Climate a. Corporations form, rise of corporate America b. People began to sell stock c. Limited Liability – only liable for what you buy d. Antebellum – partnerships e. New management techniques f. Horizontal Integration – Rockafeller buys out companies g. Vertical Integration – buyout businesses that contributes to you h. Trusts – any big business transfer stock (government thought to be illegal) i.
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