Industrialization 1865-1901

1
Industrialization1865-1901

• Section 1
• The Rise of Industry

2
Natural Resources

• Even before the invention of the automobile,
  petroleum was in high demand because it could be
  turned into kerosene.
• Edwin Drake Drilled the first oil well.

3
Free Enterprise

• Laissez-faire relies on supply and demand to
  regulate prices and wages.
• Supporters of laissez-faire believed the
  government should interfere in the economy only
  to protect property rights and maintain peace.
• Protect new domestic businesses from foreign
  competition.

4
Free Enterprise

• During the early days of industrialization, many
  members of Congress believed that tariffs were
  necessary to help new American industries compete
  with large established European factories.

5
New Inventions

• Alexander Graham Bell Invented the telephone.
• Come here Watson, I want you.
• Thomas Alva Edison Invented the phonograph,
  light bulb, electric generator, etc.
• Set up Menlo Park which became the forerunner of
  the modern research laboratory.

6
Technologys Impact

• Northrop Automatic Loom Changed bobbins without
  stopping.
• Measurements taken of Union soldiers during the
  Civil War led to the development of ready made
  clothes.

7

• Section 2
• The Railroads

8

• Pacific Railway Act Began the railroad boom.
• Union Pacific
• Central Pacific
• Hired workers from China when there was a labor
  shortage in CA.
• Construction of the transcontinental railroad
  pushed west from Omaha, Nebraska.
• The government offered each railroad company
  building the transcontinental railroad land along
  its right-of-way to encourage rapid construction.

9

• Railroad companies raised a large percentage of
  their money from selling government land grants.
• In 1883 the American Railway Association divided
  the country into four different time zones.
• Cornelius Vanderbilt Began the first direct
  rail service from New York City to Chicago.

10

• Crédit Mobilier Scandal - Union Pacific investors
  became rich by paying inflated bills from a
  construction company they controlled.
• Jay Gould - Practiced insider trading.