USA Knowledge Tests (1865-1890) “Economic Growth”

Question 1

Where was the first Transcontinental Railway built and how long did it take to travel between destinations?

Answer 1

Built between New York and San Francisco which took 6 days instead of 6 months

Question 2

How many km of railway track was laid between 1868 and 1873?

Answer 2

53,000 km

Question 3

When was the stock market crash?

Answer 3

1873

Question 4

When had the New York stock exchange became the second largest in the world?

Answer 4

By 1890

Question 5

What did Vanderbilt’s fortune swell to during the boom years?

Answer 5

$100 million

Question 6

What % of world’s oil refining did Rockerfeller’s Standard Oil Company control?

Answer 6

85%

Question 7

How much money did Rockerfeller give away to medicine and African American education?

Answer 7

$550 million

Question 8

How many tons did American steel produce in 1875 compared to 1900?

Answer 8

360,000 - 60 million tons

Question 9

What processes did Carnegie introduce to steel making?

Answer 9

Bessemer process and vertical integration

Question 10

What was the nation’s wealth in 1860 compared to 1900?

Answer 10

$16 billion - $88 billion

Question 11

Who was JP Morgan?

Answer 11

American financier who dominated corporate finance on Wall Street, nearly all US companies had some financing from Morgan in the Gilded Age