UNIT 5: INDUSTRIAL

GROWTHUS History

Mrs. McClary

TRANSCONTINENTAL RAILROAD 1870’s US spans from Atlantic to Pacific. Pacific Railway Act (1862) linked

railroads to form the Transcontinental Railroad.

Railroads made life out west possible by allowing farmers and ranchers access to eastern markets and resources.

Railroads also made it easier for people too move west and populate territories.

Cattle, farms, goods, and people began to populate the west.

TRANSCONTINENTAL RAILROAD

TRANSCONTINENTAL RAILROAD: COMPLETED MAY 10, 1869

TRANSCONTINENTAL RAILROAD Irish and Chinese immigrants made up

the majority of the workforce on the railroad.

After the completion, Chinese were competing for jobs with white Americans.

Chinese faced racism and were eventually banned from immigrating to the US in the Chinese Exclusion Act in 1882.

This law was not repealed (overturned) until 1943.

CHINESE LABOR

IN WHAT WAY DID RAILROADS AND ADVANCES IN COMMUNICATION AFFECT GEOGRAPHIC PATTERNS IN THE US?A. They stalled the need for new

inventions.B. They assisted in maintaining cultural

traditions in the area.C. They changed the physical

characteristics of a region.D. They stalled migration.[Default][MC Any][MC All]

ROBBER BARONS Robber barons were extremely wealthy

businessmen who eliminated their competition by forming a monopoly.

Monopoly: total control of an industry Cornelius Vanderbilt: Railroad between

NYC and Chicago Andrew Carnegie: steel industry Steel and oil industry grew as a result of

the railroads.

ROBBER BARONS

Cornelius Vanderbilt Andrew Carnegie

JOHN D. ROCKEFELLER This most important name associated

with big business is John D. Rockefeller. He founded Standard Oil Company,

which was the nations’ first trust. Trust companies unite different

companies into one system. Trusts exists to destroy competition and

create monopolies (a market in which there is only one supplier of a product).

For example, if Verizon was the only cell phone company today. What could they do?

JOHN D. ROCKEFELLER

JOHN D. ROCKEFELLER He was able to dictate prices, eliminate

competition and control the U.S. oil industry.

He used vertical integration: a business strategy in which one corporation owns not only the company that produces the finished product, but also the companies that provide the materials needed for production.

Standard Oil Company was very corrupt and would eventually be criticized for its practices.

WHAT WAS THE EFFECT OF THE GROWTH OF MONOPOLIES?A. They increased competition among

similar businesses.B. They reduced the need for government

intervention.C. They spread equal wealth among the

entire population.D. They reduced the number of small

businesses within an industry.[Default][MC Any][MC All]

STANDARD OIL COMPANY

WHAT WAS THE PURPOSE OF THE SHERMAN ANTI-TRUST ACT OF 1890?A. To assist robber baronsB. To eliminate government intervention

in businessC. To protect trade and growth of

monopoliesD. To eliminate big business monopolies[Default][MC Any][MC All]

BIG BUSINESS By 1900, 30% of all industry in the US

was controlled by monopolies and robber barons.

US government would try to stop trusts and monopolies through laws like the Interstate Commerce Act (1887) and the Sherman Anti-Trust Act (1890).

Often called the “Gilded Age” because of the extreme wealth of the robber barons.

“Millionaire” was a word invented during this time.

“GILDED AGE” OR “GOLD COVERED” AGE

WHO INVENTED THE ELECTRIC LIGHT BULB?A. Eli WhitneyB. Thomas EdisonC. John D. RockefellerD. Andrew Carnegie

[Default][MC Any][MC All]

TECHNOLOGICAL INNOVATIONS Telegraph (1844) and telephone (1876)

were invention that connected people across the US.

Electricity allowed industries to form in cities where there were plenty of laborers.

Thomas Edison was most important inventor of the late 1800’s.

Edison invented the following:Light bulb (1880)Phonograph (recorded and played back

sounds)Kinetoscope (motion pictures)

THOMAS EDISON AND THE LIGHT BULB