Lect.1-1 - 1) RAILROADS a) Why were railroads so important...

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1) RAILROADS a) Why were railroads so important in the development of modern industrial America? In what ways did they change the way people lived and did business? What was their impact on American government? i) This was when American Econ. Took off @ a very rapid pace ii) Also many more people living in U.S. (1) Immigration, spurred by industrial rev. (more job openings brg foreigners) iii) In capitalistic economy, the business cycle is discovered (1) Large inequality in classes –upper class was much more advanced than lower class- b) Heart of this booming economy i) Allowed quick transportation to consumers c) Social change; allowed people to meet with each other d) Changed the way people did business –managers studied the way railroads were run to learn their own trade- e) Effected government regulation of big businesses, because the gov. helped to fund them i) Business entrepreneurs could not have come up with the funds for such an endeavor alone 2) The Golden Spike –the two railroads meet together- a) March 19, 1879 b) Promontory Point, Utah c) Union Pacific and Central Pacific d) Before it was complete, it took about 3months to travel from coast to coast i) Now it took only 10 days e) Transformed the West, from a very nature-based society to that of more like the East (New England) 3) Telegraph lines were lain alongside the railroad as it was being built
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Lect.1-1 - 1) RAILROADS a) Why were railroads so important...

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