industrialization - Sasha Rozenberg 11/22/06 Per. 1...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Sasha Rozenberg 11/22/06 Per. 1 Industry Come of Age 1865-1900 1. What was the impact of the transcontinental rail system on the American economy and society in the late nineteenth century? The impact of the transcontinental rail system on the American economy and society was enormous economic growth. The railroads tied up America from east to west, having a colossal amount of miles ranging over America. The lives of millions of Americans changed; employment for the poor was now achievable while small towns in other states grew to large cities. The railroad opened many new doors to different industries especially oil and steel, also assembly lines were created to produce products with cheap labor. The rail road provided fast and long distance transportation especially for the military and postal needs. The rail roads opened up fresh markets for manufactured goods and brought products to factories. Also the railroad stimulated the large stream of immigration for buying land. Also the “time zones” were established to avoid any wrecks. 2. How did the huge industrial trusts develop in industries such as steel, and oil, and what was their effect on the economy? The huge industrial trusts developed in industries such as steel and oil because there was a lot of competition to make the most profit and to be the best factory. Oil was a huge cooperation because it fueled the trains. Smaller bothersome rival companies would join bigger ones to create a monopoly. Standard oil owned by Rockefeller was a vast power and the word trust came to be generally used to describe any large scale business combination. Steel became a large industry for the fact that it was a strong metal that built the trains and tall sky scrappers. Also steel was used to build the transcontinental rail roads The Bessemer process came about which was a method of making cheap steel. It made the economy a more cut throat environment of dog eat dog and became ruthless. The economy was about power and money and was very greedy. Immigrant workers were employed with very low wages and worked laboriously many hours a day. Their effect on the economy was to create large monopolies, their effects were tremendous. 3. What early efforts were made to control the new corporate industrial giants, and how effective were these efforts? Early efforts were made to control the new corporate industrial giants because it was not healthy or politically acceptable that so many people should be in jeopardy of so few. Very poor farmers began to wonder if the nation had not escaped from slaver power only to fall into the hands of money power, as shown by the railroad plutocracy. The American people quickly responded to the political injustice, but slowly tried to combat the economic injustice. Many legislatures tried to regulate the rail road monopoly. The Supreme Court in 1886 in the famed Wabash case stated that individual states had no power to regulate interstate commerce. The federal government would become involved if any monopolizing were to occur. President Cleveland was not
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 5

industrialization - Sasha Rozenberg 11/22/06 Per. 1...

This preview shows document pages 1 - 2. Sign up to view the full document.

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