Industrialization - Industrialization (1865-1900) 1....

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Industrialization (1865-1900) 1. Describe Industrialization - characteristics a. Economic focus moved from Agriculture to Manufacturing b. Concentration of production processes (assembly line) c. Huge companies begin to dominate the economy 2. How U.S. rapidly industrialized – in 40 years we jump from #4 to #1 in industry a. We have abundant natural resources (coal iron, timber, water) b. A large population increase in the late 19 th century c. Development of the railroad (faster, cheaper shipping) d. New technology (telephone, telegraph) e. Laissez faire attitude 3. Major developing industries a. Railroads – more stuff, carry it faster. Much safer. i. Building railroads stimulated other industries ii. Railroads create a national market of consumers b. How to pay for the railroads? i. Investors, stock c. Transcontinental Railroad – completed by 1869. d. Major problem for railroads – too much competition. J.P. Morgan comes in and establishes a trust. Creates a voting trust (a committee who controlled the largest railroad companies and made decisions for the entire
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This note was uploaded on 03/31/2008 for the course HIST 102 taught by Professor Schloss during the Spring '07 term at Texas A&M.

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Industrialization - Industrialization (1865-1900) 1....

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