APUSH Chapter 20

APUSH Chapter 20 - Chapter 20: Big Business and Organized...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 20: Big Business and Organized Labor The Rise of Big Business The Industrial Revolution created huge corporations that dominated political, social, and economic life in the 19 th Century Business owners sought to dominate industries by integrating all the processes of production and distribution o Entrepreneurs took advantage of fertile opportunities to create huge enterprises A nationwide labor shortage motivated inventors and business owners to develop labor-saving machinery Federal and state politicians encouraged business growth by imposing high Tariffs o Eliminated the foreign competition American agriculture provided wheat and corn to fuel the economy The railroad network connected East and West, and helped industrial development The Second Industrial Revolution Second Industrial Revolution - a period during the second half of the 19 th century spurred by an array of inventions and innovations for the production of metals, machines, chemicals, and food Centered in the US and Germany Transformed the economy and society into modern urban-industrial form Involved 3 related developments o The creation of a National Transportation and Communication System Telegraphs, railroads, steamships, the undersea telegraph cables, etc. o The use of Electric Power Advanced the power and efficiency of industrial machinery Spurred urban growth and enhanced the production of steel and chemicals o The application of scientific research to industrial processes Researchers found out how to refine kerosene and gasoline from oil Telephones, typewriters, cameras, and elevators were all invented
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Building the Transcontinental Railroads Railroads were the first big business, the first magnet for great financial markets, and the first industry to develop a large scale management bureaucracy Created a National Market by connecting raw materials to factories and retailers Opened the west to economic development Consumed iron, steel, lumber, and other goods Railroad construction was renewed after the Civil War Pacific Railroads Act (1862)- authorized the Union Pacific (west) and Central Pacific (east) Railroad Lines to build the first transcontinental railroad o Both built quickly to take advantage of federal subsidy o Executives directing the projects often cut corners and bribed legislators o Union Pacific Workers : ex-soldiers, former slaves, Irish and German immigrants o Central Pacific Workers : Coolie (Chinese) laborers Intended to accumulate money then return to their homeland Took most of the riskiest jobs and received the lowest pay o Construction was delayed by spikes in iron price, Indian raids, blizzards, and mountain ranges May 10, 1869- the first Transcontinental Railroad is completed Financing the Railroads Railroads were built by private companies that raised money for construction by selling railroad bonds to American and foreign investors
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/28/2010 for the course HIST 343 taught by Professor Staff during the Spring '09 term at Ill. Chicago.

Page1 / 11

APUSH Chapter 20 - Chapter 20: Big Business and Organized...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online