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

Fairs

• People Came Far and Wide • Exhibited New Inventions and Technologies

Baseball

• Becomes America’s Pastime Due to Popularity

America Emerges

• Becomes a World Power• Pays Little Attention to Defense From Foreign

Threats

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

Charles Schwab

• Shipbuilding and Steel Industry• Steel Beams• Led to Skyscrapers