degler 9 and 10 - 1 Revolutionary Challenge manufacturing...

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1. Revolutionary Challenge manufacturing and agriculture increased dramatically [farm production at a high] around 1860-1914; railroads were built and fares decreased very low because of the availability Geography: important in production, had resources such as coal, iron, copper, metals, gold & silver, and oil in abundance - led to diversity in the market and political unity - other side: not enough to account for such rapid industrialization, the foundation had been laid before canals and transportation, NE manufacturing, war decreased economic growth from pre-war - government actions also not taken into consideration and effects of legislation in the North [banking, currency stabilization, protective tariff, and Homestead Act] government provided some funds for railroad building and internal improvements, public land given away [though was discontinued] land given away because railroads made their worth more the way government regarded business also added to the industrialization friendly toward competition immigrants provided working force needed to shape industry inventions were important for expansion of industry [Bessemer process of steel] reason for inventions is because short on labor, so need machines - close connection between interest in machinery and improving status for the worker [lot of machines from Europe, esp. England] Europe contributed machines and capital entrepreneurs who possessed genius for industrial production pushed America further into industrial growth [poor class, uneducated, sons of farmers, foreign] but still not people who came up from the bottom [education btr than most others, opportunities] - common quality=passion for their work, lust for wealth and challenge 2. The Industrial Leviathan though industrialists wanted free competitive economy, built larger, oligopolistic industrial empires control of market and getting rid of competition - consolidation=US Steel Corporation, cotton goods, agricultural machinery and even electrical machinery manufacturing, and railroading growth of investment banking[rid of competition] =maturing capitalism - demand by railroads, created Pujo Committee to investigate Money Trust and found bankers had extreme power [balance max production with consumer prote.] - two solutions: Interstate Commerce Act [Commission] and Sherman Antitrust Act: fed government should bring competition back 3. The Reconstruction that Took after slave system was gone, South took to manufacturing: South closely linked w/ business interests of North
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