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Nc goal #5 the new american society and the economy
 

Nc goal #5 the new american society and the economy

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    Nc goal #5 the new american society and the economy Nc goal #5 the new american society and the economy Presentation Transcript

    • The Gilded Age: A New American Society and Economy What made industrialization possible? What advances were made during this period? Were the entrepreneurs captains or barons?
    • Six Sources of Industrial Growth
      • Abundant raw materials
      • Large and growing labor supply
      • Surge in technological innovations
      • Emergence of a talented and often ruthless group of entrepreneurs
      • Federal government eager to assist the growth of business
      • Expanding domestic market for the products of manufacturing
    • Natural Resources
      • Coal
      • Iron
      • Timber
      • Petroleum
      • Water
    • Abundant Labor Force
      • Old farming families
      • Immigrants arrive
        • Italians
        • Chinese
        • Irish
        • Central European
      • Total population was 76 million in 1914
        • 7 million immigrants between 1870-1890
        • 15 million between 1890 and 1914
    • Improvements in Transportation
      • Steamships
        • Can cross Atlantic Ocean in half the time
        • Can transport on Hudson River, Ohio River, and Erie Canal
      • Railroads
        • By horse- 50 miles a day
        • By rail- 50 miles an hour
    • Why railroads?
      • Direct routes
      • Speed
      • Safety
      • Comfort
        • Pullman sleep car
      • Brought in outside products
      • Dependable schedule
        • Time zones are established
      • Encouraged specialization
    • The Railroads
    • Improvements in Communication
      • Bell’s Telephone
      • Edison’s Phonograph
      • Typewriter
    • Improvements in Manufacturing
      • Refining petroleum
      • Bessemer process
      • Cash register
      • Singer’s Electric sewing machine
      • Automatic looms
      • Eastman’s Kodak camera
    • Improvements in Food industry
      • Refrigerator car
        • Cattle from Texas
        • Fruit from California and Florida
      • Beer
      • Packaged cereal
      • Canned meat
      • Swift’s “Disassembly factories”
    • A new light
      • Edison’s lightbulb
        • Light within 2 mile radius
      • Westinghouse converts electrical power to mechanical power
        • Light to all
    • Cornelius Vanderbilt
      • Shipping and railroad magnate
      • 1810 - Purchased first ship
      • 1846 – Self-made millionaire
      • 1849 – Vanderbilt Accessory Transit Company
      • 1869 – Consolidated the Hudson River Railroad and New York Central Railroad
      • 1873 – Was able to offer rail service between New York and Chicago
      • Constructed Grand Central Terminal
    • Collis P. Huntington
      • Railroad magnate
      • Became wealthy as a merchant
      • 1861 – Joined with the “Big Four” to incorporate the Central Pacific Railroad
      • 1865 – Constructed lines from southern California to New Orleans
      • 1890 – President of the Southern Pacific-Central Pacific rail system
    • Andrew Carnegie
      • Steel
      • Pittsburg
      • J Edgar Thomson Steel Company
        • Named after President of Pennsylvania Railroad
      • Won contract for Brooklyn Bridge, Golden Gate Bridge, and Empire State building
      • Sold more steel than Great Britain
    • J. Pierpont Morgan
      • A banker
      • Refinanced railroads
      • Bought Carnegie Steel
        • Merged with his company Federal Steel
        • Named United States Steel Corporation
      • Financed Edison Illuminating Company
    • John D. Rockefeller
      • Oil
      • Standard Oil Company
      • Kerosene
      • Refineries began in Cleveland and Pittsburg
      • Concept of trust
        • Vertical alignment
          • Wells
          • Chemical plants
          • Refineries
          • Warehouses
          • pipelines
      • Concept of the holding company
    • Alexander Graham Bell
      • The telephone
      • American Telephone and Telegraph Company
      • Holding company
        • 100 separate Telephone companies in local areas
    • Cyrus W. Field
      • Financier
      • 1854 – Founded the New York, Newfoundland and London Telegraph Company
      • 1856 – Helped to organize the Atlantic Telegraph Company
      • 1866 – Successfully laid the first transatlantic telegraph cable
    • Captains of Industry or Robber Barrons: The Emergence of Entrepreneurs
      • Captain of Industry
        • Self made
        • Entrepreneur
        • Witty
      • Robber Barron
        • Didn’t care about labor
        • Felt it was best to control industry
    • Bringing Products to Consumers
      • Department Stores
      • Mail Order Catalogs
      • City
      • Macy’s- New York
      • Marshall Field’s- Chicago
      • Higbee’s- Cleveland
      • A&P Grocery stores
      • Rural
      • Buy from catalog
      • Based on consumer trust
      • Importance of advertisements
      • Sears and Roebucks
      • Montgomery Ward