Expansion of the USA

Question 1

what was the impact of the civil war?

Answer 1

• increased demand for manufactured goods
• mass production methods developed
• introduced paper currency (more money in economy)
• tariffs reduced influence of forge in goods

Question 2

what did more available land mean?

Answer 2

• increased westward settlement
• good for economic growth (market for goods and railroads)
• fertile land = mass production of wheat
• farming expansion = ample food
• mechanisation of agriculture = greater demand for manufactured goods

Question 3

What were the effects of population growth?

Answer 3

• ample cheap labour for economic expansion
• population increased from 31.5 million in 1860 to 50 million in 1880
• increased income = better food, housing, public health and medical knowledge
• 2.8 million immigrants in 1870’s
  immigrants = cheap labour and more demand for goods

Question 4

what did better transport mean?

Answer 4

• evolution of railroads = fast and efficient transportation of raw materials
• railroad employees = 1 million in 1900
• increased demand in steel for trains
• encouraged competition = reduced prices and better tech
• stimulated growth as rail centres needed roads to distribute to rural areas

Question 5

what did the development of capitals mean?

Answer 5

• entrepreneurs needed to borrow money to develop businesses
• profits from civil war cause high developed stock market (where profits were invested)
• NY stock exchange was 2nd largest money market in the world

Question 6

how did the government cause expansion of the USA?

Answer 6

• took bigger role in managing the economy
• businessmen had freedom in running enterprises
• few legislations were passed to restrict businesses
• commercial policies helped expansion and made forge in goods more expensive
• no business trade unions (owners free to manage workforce how they wanted)
  employers supported by federal authority

Question 7

how was expansion encouraged by corporations and trusts?

Answer 7

• economy graph encouraged by business methods (corps and trusts) due to lack of government control
• a corporation could own a number of businesses
• a trust was where multiple companies joined together
• these were legal methods of avoiding state laws

Question 8

how did technology help expansion?

Answer 8

• growth in industry due to change in tech
• Carnegie dominated steel industry
• brought a cheaper and faster way of making steel from britain
  steel was used for sodbusters, barrels on rifles, barbed wire and on the railways

Question 9

what was the population in 1860 and 1880?

Answer 9

31.5 million and 50 million

Question 10

how many immigrants were there in 1870?

Answer 10

2.8 million

Question 11

how many people did the railroad employ in 1900?

Answer 11

1 million

Question 12

what was the turnover of the NY stock exchange in 1865?

Answer 12

6 billion