Economic Changes (unfinished) Flashcards
What was the nations wealth in 1860 compared to 1900?
1860- $16 billion
1900- $88 billion
What was iron production in tons in 1860 compared to 1900?
1860- 920,000 tons
1900- 10.3 billion tons
By 1904, what the top 4% of companies produced what % of the total industry?
57%
What was the population of the west in 1860 compared to 1890?
1860- 760,000
1890- more than 6 million
Where was iron ore discovered in 1892? What was this used for?
Messabe hills in Minnesota and was used in the steel industry
By 1913, what % had steel production increased by?
400%
What affect did the Alaska-Yukon gold rush have on US gold and when was it?
1896- doubled the size of US gold reserves
Developments in oil fields in which three states expanded the US’s position in the world for oil production?
Oklahoma, California and Texas
What was the national unemployment rate during the 1893 depression?
20%
How long was the depression of 1893?
4 years
How many companies and banks closed as part of the 1893 depression?
15,000 companies and 600 banks
Pullman Strike
1894, national strike that paralyses the nation led by Eugene Debs
What was Cleveland’s response to the Pullman Strike 1894?
Sent in troops and passed the Omnibus indictment act
Omnibus indictment act
1894, permitted the legal banning of strikes
Who wrote the book “The Jungle” and what did it reveal?
Upton Sinclair, revealed the horrendous conditions in the meat-packing industry in Chicago
When was the tractor invented?
1892
When was the assembly line with the conveyor invented?
1901
Who used the first conveyor belt and when?
Henry Ford,1913
What was Bakelite and when was it invented and where?
The world’s first fully synthetic plastic, invented in New York in 1907
