ap focus what were three factors in bringing on the age of industry that transformed modern america...
TRANSCRIPT
AP FOCUS
What were three factors in bringing on the age of industry that transformed modern America in the late 19th and early 20th centuries?
The New American Economy
The New American Economy
The Second Industrial Revolution was fueled
by 3 industries: railroads, steel, & oil
Industrialism
1865-1900
I. Major Ideas
Invention and Innovation in the Industrial Age
Accelerated technological innovation, emphasizing new inventions and applied science.
In the first decade of the US Patent Office (1790-1800) 276 new inventions were patented, From 1890 to 1900 235, 000 new devices were patented.
I. Major Ideas
II. Railroad Building
1st transcontinentaltranscontinental railroad connected the west coast to eastern cities in 1869
Chinese workers made up a large percentage of laborers
on the western leg
Irish workers made up a large percentage of laborers on the eastern section
Rails Across the ContinentIn 1862, Congress authorized the
transcontinental railroad:–Union Pacific worked westward
from Nebraska (Irish laborers)–Central Pacific worked eastward
from CA (Chinese immigrants)–May 10, 1869 the 2 tracks met
at Promontory Point in UtahBy 1900, 4 more lines were built
to the Pacific
Other Transcontinental LinesNorthern Pacific Railroad 1883
Federal Land Grants to Railroads by 1871The national gov’t doled $65 million &
millions of acres in land grants (received reduced rates for shipping)
Railroad Construction, 1830-1920
Railroad Consolidation and Mechanization
In 1870, RR companies developed the 1st time zones to better schedule the RR system; the US
would not adopt time zones until 1918
“Pullman cars” & “refrigeration cars”
Significance of America’s RR Networks
1) Spurred Industrialization2) United Nation (physically)3) created huge domestic
markets for raw mat. & man. Goods
4) Stimulated 3 west. Frontiers (mining, ag., and ranching)
5) RR led to cityward movement of late 19th cent.
Significance of America’s RR Networks
6) Facilitated large influx of immigrants
7) spurred investment from abroad
8) time zones9) maker of millionaires, new rr
aristocracy emerged10) N.A. displaced and herded
into reservations
Railroad Corruption by Robber Barons
Wrong Doing in Railroading Railroads were not
without corruption, as shown by the Credit Mobilier scandal.
Jay Gould made millions embezzling stocks from the Erie, Kansas Pacific, the Union Pacific, and the Texas and Pacific railroadcompanies.
One method of cheap moneymaking was called “stock watering,” in which railroad companies grossly over-inflated the worth of their stock and sold them at huge profits.
Financier Jay Gould
The Railroad Industry America’s first “big business” was
the railroad industry:–Railroads stimulated the coal,
petroleum, & iron/steel industries–Large companies bought small
railroads, standardized gauges & schedules, & pooled cars
–Small lines in the east acted as tributaries to the 4 great trunk trunk lineslines into the West
Cornelius “the Commodore”
Vanderbilt was the most powerful figure in
the railroad industry
William VanderbiltWilliam Vanderbilt
$ The public be damned!- William
$ What do I care about the law? H’aint I got the power?- Cornelius
$ The public be damned!- William
$ What do I care about the law? H’aint I got the power?- Cornelius
Government Regulation of Robber Baron RR Tycoons
Supreme Court Precedence: Slaughterhouse Cases, 1873
Gov’t Regulation of Industry ■ From 1870 to 1900, 28 state
commissions were created to regulate industry, especially RRs:– In 1870, Illinois declared RRs to
be public highways; this was upheld by Munn v. Illinois Munn v. Illinois (1876)
–But, was overturned in Wabash Wabash v. Illinoisv. Illinois (1886): “only Congress can regulate interstate trade”
Tariffs & Trusts
■ Congress responded by creating:–The Interstate Commerce Interstate Commerce
CommissionCommission (ICC) in 1887 to regulate the railroad industry
The ICC became the model for future
regulatory agencies
This was the 1st attempt by the federal gov’t to regulate big business
The Interstate Commerce Act