Industrial revolution upload


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Industrial revolution upload

  1. 1. Industrial Revolution<br />
  2. 2. By early 1900s, US world’s leading industrial nation.<br />Fueled by:<br />Abundant supply of natural resources<br />Improved transportation <br />transcontinental railroad moving resources and people<br />Increase in labor force<br />1860-1910 population tripled<br />Greater demand for consumer goods<br />Large workforce<br />
  3. 3. Gov’t supported industrialization:<br />Helped industries with loans & minimal regulation<br />Railroad construction subsidized by gov’t<br />Loans and land grants<br />Maintained laissez-faire approach<br />Imposed few regulations<br />Viewed labor organizations with suspicion<br />High tariffs on imports to protect domestic industry<br />Contradicted laissez-faire<br />Caused foreign nations to raise tariffs<br />Increased cost of American goods<br />
  4. 4. Steel…<br />Affected technological change more than any other product<br />Allowed for cheaper building materials<br />Bessemer Process<br />Cold air pressure method of transforming iron ore into steel<br />
  5. 5. Oil and Electricity<br />Oil could be refined into gasoline, kerosene, and distillate<br />John D. Rockefeller<br />Standard Oil Co.<br />Own all aspects of production<br />Oil wells, refineries, retail outlets<br />Controlled 90% of world’s oil trade<br />Edison Electric Illuminating Co.<br />Supplied electric power to New York City<br />
  6. 6. The Assembly Line<br />Henry Ford popularized use in manufacturing<br />Combined sub-assembly lines into one continuous moving line<br />Divided operation into simple tasks<br />Workers performed same task repeatedly<br />Unskilled workers could perform tasks<br />Allowed for faster production<br />Reduced cost of automobile<br />
  7. 7. Railroads<br />Pacific Railway Act provided for construction of transcontinental rr<br />Transcontinental Railroad<br />Gov’t gave land along right-of-way to encourage rapid construction<br />Sold land to pay for costs<br />Union Pacific RR-built East to West from Omaha, NE<br />Central Pacific RR-built West to East from Sacramento, CA<br />Hired workers from China<br />Joined May 10, 1869 near Ogden Utah<br />
  8. 8. Big Business<br />Corporation – company owned by many but treated by law as single-owner<br />Business costs<br />Fixed—items paid when company is operating or not<br />Operating—costs occurred only when company is operating<br />Advantage of big business—can operate during poor economic times<br />Can cut prices to increase sales<br />Disadvantage for small business—can’t stay in operation if not selling product<br />
  9. 9. Big Business cont’d.<br />Competition creates lower prices<br />Without competition, monopolies form<br />Vertical integration<br />One company owns all other businesses it takes to make finished product<br />Chair Co = Cloth Co + Frame Co + Shipping Co<br />Horizontal integration<br />One large company owns several smaller companies doing the same type business<br />Mega Convenience Store = Allsups + Pak-a-Sak + Toot-n-Totum<br />
  10. 10. Factory Work in US<br />Life in the factory—<br />Unsafe work environment<br />No gov’t regulations<br />Low pay<br />Long hours<br />Tedious, monotonous jobs—no skills required<br />Unions<br />Great length to keep out of factories<br />Samuel Gompers—first leader of American Federation of Labor<br />Fought for higher wages, better working conditions<br />
  11. 11. The Impact of Industry<br />Industrial Revolution at first not benefit everyone equally<br />National wealth and personal income grew significantly by 1920s<br />More consumer goods on market<br />