Growth of Business and Industry Objective: Cover the development of business and industry after the Civil War
Industrial Revolution <ul><li>Started in England in 1700s </li></ul><ul><li>Change from making products at home to making ...
Industrial Rev. <ul><li>U.S. industrialize for many reasons </li></ul><ul><li>1 st  People had capital (money) </li></ul><...
Ways of Organizing Business <ul><li>Many years one person or a family owned a business </li></ul><ul><li>Partnership- two ...
Corporations <ul><li>Can raise lots of money by selling shares </li></ul><ul><li>If corporations fail shareholders only lo...
New Inventions <ul><li>Henry Bessemer discovers fast cheap way to turn iron into steel </li></ul><ul><li>Granville Woods i...
Growth of Big Business <ul><li>Oil, Steel, and Railroads become huge industries </li></ul><ul><li>Where called big busines...
Growth of Big Business <ul><li>Several Companies could become a monopoly by forming a  Trust </li></ul><ul><li>A trust is ...
Captains of Industry or Robber Barons <ul><li>Cornelius Vanderbilt – Railroads </li></ul><ul><li>Andrew Carnegie – Steel I...
Government Tries to Control Big Business <ul><li>Laissez-Faire means hands- off </li></ul><ul><li>Many Americans believe g...
Interstate Commerce Act <ul><li>Controls business crossing state lines </li></ul><ul><li>Tries to regulate rates charged b...
Sherman Anti-Trust Act <ul><li>Made Monopolies illegal </li></ul><ul><li>Goal to break up Big Business </li></ul><ul><li>L...
Upcoming SlideShare
Loading in …5
×

Growth Of Business And Industry

1,119 views

Published on

Published in: Economy & Finance, Sports
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,119
On SlideShare
0
From Embeds
0
Number of Embeds
11
Actions
Shares
0
Downloads
16
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Growth Of Business And Industry

  1. 1. Growth of Business and Industry Objective: Cover the development of business and industry after the Civil War
  2. 2. Industrial Revolution <ul><li>Started in England in 1700s </li></ul><ul><li>Change from making products at home to making them in factories </li></ul><ul><li>Industrial Rev. Started in America in textile mills in New England </li></ul>
  3. 3. Industrial Rev. <ul><li>U.S. industrialize for many reasons </li></ul><ul><li>1 st People had capital (money) </li></ul><ul><li>2 nd lots of natural resources (coal, iron, oil, water) </li></ul><ul><li>3 rd U.S. had lots of Railroads </li></ul><ul><li>4 th New Inventions </li></ul><ul><li>5 th Lots of people </li></ul><ul><li>6 th American economy based on Capitalism </li></ul>
  4. 4. Ways of Organizing Business <ul><li>Many years one person or a family owned a business </li></ul><ul><li>Partnership- two or more people own a business </li></ul><ul><li>If business fails owners pay any debts </li></ul><ul><li>Lack of capital in partnerships </li></ul>
  5. 5. Corporations <ul><li>Can raise lots of money by selling shares </li></ul><ul><li>If corporations fail shareholders only lose what they put in </li></ul><ul><li>If profitable can sell shares for more money </li></ul>
  6. 6. New Inventions <ul><li>Henry Bessemer discovers fast cheap way to turn iron into steel </li></ul><ul><li>Granville Woods invents way for trains to run electricity </li></ul><ul><li>Elijah McCoy invents lubricating cup </li></ul><ul><li>Thomas Edison invents light bulb </li></ul><ul><li>Alexander Graham Bell invents telephone </li></ul>
  7. 7. Growth of Big Business <ul><li>Oil, Steel, and Railroads become huge industries </li></ul><ul><li>Where called big business because they controlled many other smaller businesses </li></ul><ul><li>Try to establish a Monopoly </li></ul><ul><li>A monopoly controls an entire industry </li></ul>
  8. 8. Growth of Big Business <ul><li>Several Companies could become a monopoly by forming a Trust </li></ul><ul><li>A trust is a group of companies run by a board of directors </li></ul><ul><li>Three powerful leaders of big business were: Vanderbilt, Carnegie, and Rockefeller </li></ul>
  9. 9. Captains of Industry or Robber Barons <ul><li>Cornelius Vanderbilt – Railroads </li></ul><ul><li>Andrew Carnegie – Steel Industry </li></ul><ul><li>John D. Rockefeller – Oil Industry </li></ul>
  10. 10. Government Tries to Control Big Business <ul><li>Laissez-Faire means hands- off </li></ul><ul><li>Many Americans believe government should stay out of business </li></ul><ul><li>Big Business was too BIG </li></ul><ul><li>Congress wanted to pass laws to control business </li></ul>
  11. 11. Interstate Commerce Act <ul><li>Controls business crossing state lines </li></ul><ul><li>Tries to regulate rates charged by railroads </li></ul><ul><li>Interstate Commerce Commission created to enforce law </li></ul><ul><li>Takes 15 cases to court and loses </li></ul>
  12. 12. Sherman Anti-Trust Act <ul><li>Made Monopolies illegal </li></ul><ul><li>Goal to break up Big Business </li></ul><ul><li>Law not written clearly was hard to enforce </li></ul>

×