Unformatted text preview: RAILROADS RAILROADS
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? The Golden Spike Spike March 19, 1879 Promontory Point, Utah Union Pacific and Central Pacific Expansion of Railroads Expansion Cost of Railroads Cost 10 billion dollars Private and foreign investors State and Federal Aid – Land grants (150 million acres) – Tax Exemptions – Govt. Subsidies Railroad Boom Railroad New Technology Other Innovations – Steel Rails – Better Locomotives – Air Brakes; Automatic Coupler (safety) – Better Bridges – Pullman Cars – Meatpacking Industry – 1870s, refrigerated cars Managerial Innovations Managerial America’s First Big Business Managerial Innovations – Need for Coordination – Size and Distance – Chain of Command – Professional Managers – Long Term Planning/Accounting – Graduate Programs – Lessons from RR Economic Stimulation Economic Iron, Steel and Coal Telegraphs Cattle and Meatpacking Agriculture and distant markets Railroads CHANGED US Economy Railroads Connections New markets Impact on local & regional businesses Traveling Salesmen (x4) Mail order – Montgomery Ward – Sears and Roebuck Railroads CHANGED US Society Railroads Western Settlement Vacations 1880 Transcontinental trip less than 10 days Impact on Towns and Cities Faster Information National Culture Railroads and Time Railroads Watches Standard US Times Zones Seasons – November 18, 1883 – “Day of Two Noons” Politics and the Railroad Politics Private Corporation/ Public Function Private enterprise and the state State Railway Commissions New Laws Railroad Pricing Railroad Short and Long Haul Rates Rebates State “Granger” Laws State 1870s Midwest Farmer’s Alliances (the “Grange”) Significance – Railway Commissions – “Maximum Rates” – Price Discrimination Course of Railroad Laws Course 1877 – Munn v. Illinois 1895 – Wabash v. Illinois 1897 – Interstate Commerce Act – Interstate Commerce Commission Railroads Summary Railroads Impact on: – Economy? – Big Business? – Society? – Government? ...
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- Spring '08
- Economics, RAILROADS RAILROADS