Assignment2 - Garrett Behr History 1025 History of the...

This preview shows page 1 - 2 out of 5 pages.

Garrett Behr History 1025- History of the United States since 1865 Assignment #2 1) Industrialization transformed American life in the late 19th century as nothing had before. What was the overall character of this industrial change? Focusing on the careers and companies of Andrew Carnegie and John D. Rockefeller, discuss how big business emerged and altered the old republic of small businesses and small farmers. To what degree was this a revolution and the creation of a new economic order in the United States? How did workers and government respond? What was life like in the age of the new industrial city? The American industrial revolution started when Samuel Slater brought the cotton mill to the U.S. in 1793, but the revolution did not take off until after the Civil War. After the War, America needed to rebuild the economy, and industrialization moved at a much faster pace. America expanded its land, and the new territories had many natural resources. Moving across this new land would not have been possible without the transcontinental railroad. The transcontinental railroad was built in large part because of the Pacific railroad Acts, which gave land to railroad companies for every mile of railroad built. Another driving force was immigration to the United States. Over 14 million immigrants came to the United States from 1860 to 1900, providing a solid work force in the country. During this industrialization, companies would look in every direction in order to increase efficiency. Many industrialists took business risks in order for their company to become successful. This also increased inventions in the country. Everyone was trying to come up with creative new ways to perform tasks. To do this, company owners tried to maximize what they were producing, and do all of this for as cheap as they could. Although Andrew Carnegie and John D. Rockefeller worked in different industries, their approach to business was similar. Carnegie set up the first steel mills in the United States in order to produce steel in large quantities. Carnegie cut costs by controlling every part of the steel producing process, by investing in mines that had raw materials, then buying the mills and ovens that produced the mills, and even owning railroads and shipping lines in order to ship the final product. By controlling every part of the process, he was not dependent on other companies and could save money in that way. Rockefeller became the richest man in the country by creating oil trusts, which controlled over 90% of all oil in the U.S. This limited competition, and he was able to set prices on oil in the country. Although the two had different approaches, each of them were trying to maximize the amount of money they could make. These new big businesses pushed out smaller businesses because they were able to keep their prices lower while still making a profit. Smaller business were not producing their product at such a large, cheap rate, and could not drop

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture