1890-1920 Economic Flashcards
What % did manufactured exports rise between 1895-1900?
90%
By which year was the USA a net exporter?
1913
What was the ‘second industrial revolution’?
Shift towards ‘new’ industries
What was discovered in the Mesabi Hills, Minnesota in 1892?
Iron ore
Where was there a rush of farm settlers in the late 1880s/1890s?
Midwest (Tennessee Valley)
Why was the initial homestead agricultural success so short lived? (until ww1)
The land was poor and suffered quickly from overproduction
By 1900 how many US cities had a population of 100k or more?
38
Where was there a major gold rush in the late 1890s?
Yukon
When did McKinley officially put the USA on the gold standard?
1900
1898 onwards, why did the West Coast ports like San Francisco become so important?
They were gateways to trading with Asia
Who led the 1893 Great Northern Strike that forced railroad bosses to make concessions to workers?
Eugene Debs
Why was there a Panic in 1893 followed by 3 years of recession?
Gold reserves fell and couldn’t support the economy
Why was there a panic in 1907?
NY Stock Exchange dropped 50% due to the Knickerbocker Co. (3rd largest company in NY) collapsing
Who put up millions to restore the economy in 1907?
J.P. Morgan
Which US firm produced 5500 military locomotives and 6m artillery shells for Britain in ww1?
Baldwin Locomotive
