Sources of Industrial Sources of Industrial GrowthGrowth

AP US HistoryAP US HistoryEast High SchoolEast High School

Mr. PetersonMr. PetersonSpring 2009Spring 2009

Industrial TechnologiesIndustrial Technologies

SteelSteel New techniquesNew techniques

Bessemer processBessemer process Open-hearthOpen-hearth

PittsburghPittsburgh PetroleumPetroleum

George BissellGeorge Bissell First oil well-1859First oil well-1859 44thth among nation’s exports by 1870s among nation’s exports by 1870s

Airplanes and AutomobilesAirplanes and Automobiles

Internal combustion engineInternal combustion engine Nicolaus August OttoNicolaus August Otto

Gottfried DaimlerGottfried Daimler First American gasoline car in 1903First American gasoline car in 1903

Henry Ford-1906Henry Ford-1906 4 in 1895 to 5 million in 19174 in 1895 to 5 million in 1917

Wilbur and Orville Wright-1903Wilbur and Orville Wright-1903 National Advisory Committee on National Advisory Committee on

Aeronautics-1915Aeronautics-1915 Limited use in WWILimited use in WWI Charles Lindbergh-New York to ParisCharles Lindbergh-New York to Paris

Research and ScienceResearch and Science

General Electric-corporate laboratoryGeneral Electric-corporate laboratory Transformation of universitiesTransformation of universities ““Scientific management”Scientific management”

““Taylorism”Taylorism” Thomas Edison’s Menlo Park Thomas Edison’s Menlo Park

laboratorylaboratory Bell Telephone, Du Pont, Eastman Bell Telephone, Du Pont, Eastman

Kodak, GEKodak, GE Moving assembly lineMoving assembly line

Railroad ExpansionRailroad Expansion

193,000 miles by 1900193,000 miles by 1900 Government subsidiesGovernment subsidies TycoonsTycoons

Cornelius Vanderbilt, James Cornelius Vanderbilt, James J. Hill, Collis P. HuntingtonJ. Hill, Collis P. Huntington

The CorporationThe Corporation

““limited liability”limited liability” Stock sales and capitalStock sales and capital Andrew Carnegie and steelAndrew Carnegie and steel

Henry Clay FrickHenry Clay Frick Mesabi iron range-MNMesabi iron range-MN Sold to J. Pierpont Morgan in 1901Sold to J. Pierpont Morgan in 1901 US Steel CorporationUS Steel Corporation

Gustavus Swift and Isaac SingerGustavus Swift and Isaac Singer Efficient managementEfficient management

Middle managerMiddle manager

ConsolidationConsolidation

““horizontal integrationhorizontal integration Combining several firm in same Combining several firm in same

enterpriseenterprise ““Vertical Integration”Vertical Integration”

Different businesses fro company’s Different businesses fro company’s primary functionprimary function

Carnegie’s SteelCarnegie’s Steel Mills, mines, railroads, etc.Mills, mines, railroads, etc.

Rockefeller's Standard OilRockefeller's Standard Oil Horizontal and verticalHorizontal and vertical Controlled access to 90% of refined oil; Controlled access to 90% of refined oil;

““cutthroat competition”cutthroat competition” Pool arrangements-cartelsPool arrangements-cartels

Trusts and Holding CompaniesTrusts and Holding Companies

Rockefeller and J.P. MorganRockefeller and J.P. Morgan Economic combinationEconomic combination Exchange individual corporate Exchange individual corporate

stock for shares in truststock for shares in trust Corporate mergersCorporate mergers

““holding companies”holding companies” Rapid corporate combinationRapid corporate combination

Substantial economic growthSubstantial economic growth

Sources of Industrial Sources of Industrial GrowthGrowth

AP US HistoryAP US HistoryEast High SchoolEast High School

Mr. PetersonMr. PetersonSpring 2009Spring 2009