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Industrialism
Progressing Westward
http://www.youtube.com/watch?v=7Cvofeaj0y0
America Changes
• Big Businesses and Factories – Faster Production Methods
• Use Natural Resources to Create New Products
• Rise In Immigration• Change in Communication Methods• Railroads• Banking Options
The South
• In Debt From Civil War• Fall Behind With Industrialization• Becomes Very Poor• Loses Labor Force (Slaves)
The Factory
• Use of an Assembly Line• Produces Goods Quickly• Poor Working Conditions • Low Wages • Citizens Moved From Farms to Cities
The Train
• Allowed Faster Movement of Citizens Westward
• Allowed Resources and Goods to Be Transported Westward
• Rise of Cowboys and Bandits• Built Primarily By Immigrants From China
The Telephone
• People Could Talk Instantly Without Time Lapse of Letters
• Pony Express Extinct• Stagecoach Mail Delivery Dying Out • Telegram also created faster communication
Banking
• Widespread• Offered Stocks and Bonds to Promote Business• Gave Loans to Many People• Large Economic Growth Led to An Increase in
Wealthy Class• Fast Money
Roosevelt’s Big Stick
• America Had The Right to South America• Vowed to Fight Off Any Countries from the
Eastern Hemisphere
Monopoly • Rich Business Men Try to Corner
Markets• Force US to Buy Their Goods
Exclusively• Gain Too Much Powerhttp://www.econedlink.org/lessons/index.php?lid=628&type=educator (Monopoly Lesson)
John D. Rockefeller
• Oil Barren – Founded Standard Oil Company• First US Business Trust• Kerosene and Gasoline Become Important in US
Industries• World’s Richest Man• 1st American to Be Worth More $1 Billion• Regarded As the Richest Person in History
(Inflation)• Founded Several Colleges
Andrew Carnegie
• Steel Barren• Born Poor, Gained Wealth from Investing the
US Railroad• Founded Several Colleges and Libraries
Cornelius Vanderbilt
• Railroad Baron• Founded Vanderbilt University• Married First Cousin – 13 Kids• Initially Worked IN NY Steamboat Industry– Staten Island Ferry
• Almost Died on Train with John Quincy Adams aboard
• Worked With Railroad Industries to Transport Goods By Land and Sea
JP Morgan
• Helped Merge Businesses Together For Financial Gain
• Leading Financer of Progressive Era• Led One of the Most Powerful Banks of the
World
John Jacob Astor
• Fur Industry• First Multi-Millionaire in the US