Chapter 24 Flashcards
early industrial revolution
steam enginge
RRs, canals, turnpikes
cotton gin, steel plow, sewing machine, telegraph
factories and interchangeable parts
middle class
how us became world’s leading industroial power
gov grants for transport and communication helped open new markets
businesses used new innovations, access to natural resources, new management structures, advances in marketing, and an ubndant labor source to increase production of goods
trusts
laisesez faire
buidling of TRR, discovery of mineral resources amd gov policies promoted economic growth
abubdant kiquid capital
innocations
benefits of TRR
tied the nation E to W
economy: jobs, industry, profit
population migration
negatives of TRR
costly
dangerous
government subsididies andfvatages
not cash = no new taxes
dicounted gov rates on mail mand military transport
new cities
gov subsidies disadvatages
greefy coporations
false sens of value of land
ghost towns
companies abused their control of the land
union pacific railroad
started in omaha
flat prarie land, mtn ranges
irish “paddies”
fought against NAI
central pacific railroad
started in sacremento
mainly in mtn ranges
chinese laborers
explosives
backed by the Big FOur
headed by lelanbd stanfprd
improvements in RR
steel rails for iron
standard width track
air brake
pullman palace cars
RR became nation’s biggest business
growing RR
steel industry
transported farmers to farmlamds
transported produce/prodcuts
mining and agriculture in W
immigration = abundance of workers
cities
coruption
stock fruad
monopolies
alliances/pools
cickbacks
polotocal cronies
RR changes the environment
tall grasslands become corn fields
short grasslands became cattle
almost hunted buffalo to exticntion
white pine forrests used for limber
standard 4 time zones
cornelius vanderbuilt
became rich from inventing steambaots
imoroved old, E networks of RR
poorly educated, course, rothless
savvy business decieions
superior servuce at a low price
andrew carnegie
scottish immigrant
moved up ldder quickly through hard work, extra tasks, charm and leadership
not a monoplisit
vertical integration
steeeeeel
vertical integration
combining into one organization all phases of manufacturing
eliminate the middle man
improve efficiancy
control quality of products at all phases
steel is king
exported 1/3 of world’s steel
bessemer process
john d rockefeller
horizontal integration
oil baron
standard oil comparny