Unit II Notes: The Gilded Age and Industrialization 1877-1909
Railroads and the Industrialization of America in the Gilded Age.
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Transcript of Railroads and the Industrialization of America in the Gilded Age.
Railroads and the Industrialization of
America in the Gilded Age
Causes of Rapid IndustrializationCauses of Rapid Industrialization
Steam Revolution of the 1830s-1850s.
The Railroad fueled the growing US economy:
First big business in the US. A magnet for financial investment. The key to opening the West. Aided the development of other
industries.
Steam Revolution of the 1830s-1850s.
The Railroad fueled the growing US economy:
First big business in the US. A magnet for financial investment. The key to opening the West. Aided the development of other
industries.
Unskilled & semi-skilled labor in abundance.
Abundant financial capital ($$$).New, talented group of businessmen [entrepreneurs] and
advisors.Market growing as US population increased.Government willing to help at all levels to stimulate
economic growth.Abundant natural resources.
Unskilled & semi-skilled labor in abundance.
Abundant financial capital ($$$).New, talented group of businessmen [entrepreneurs] and
advisors.Market growing as US population increased.Government willing to help at all levels to stimulate
economic growth.Abundant natural resources.
Causes of Rapid IndustrializationCauses of Rapid Industrialization
Causes of Rapid IndustrializationCauses of Rapid Industrialization
Technological innovations. Bessemer and open
hearth process Refrigerated cars Edison
o “Wizard of Menlo Park”o light bulb, phonograph,
motion pictures.
Technological innovations. Bessemer and open
hearth process Refrigerated cars Edison
o “Wizard of Menlo Park”o light bulb, phonograph,
motion pictures.
Thomas Alva EdisonThomas Alva Edison
“Wizard of Menlo Park” “Wizard of Menlo Park”
The light bulbThe light bulbThe Phonograph (1877)
Moving Pictures
Stuff Edison Invented
Alexander Graham BellAlexander Graham Bell
Telephone (1876) First words on the phone: “Yes, I have Dr. Pepper in a can. Why?!”
Telephone (1876) First words on the phone: “Yes, I have Dr. Pepper in a can. Why?!”
Model T AutomobileModel T Automobile
Henry FordI want to pay my workers so that
they can afford my product!
Henry FordI want to pay my workers so that
they can afford my product!
“Model T” Prices & Sales“Model T” Prices & Sales
New Business CultureNew Business CultureLaissez Faire the ideology of
the Industrial Age.
Laissez Faire the ideology of the Industrial Age. Individual as a moral and economic
ideal. Individuals should compete freely in the
marketplace. The market was not man-made or
invented. No room for government in the market!
Individual as a moral and economic ideal.
Individuals should compete freely in the marketplace.
The market was not man-made or invented.
No room for government in the market!
The Building of the RailroadsPaid by the government with land grants; several
square miles per mile of track laid
The Building of the RailroadsUse of immigrant labor Irish in the Midwest
Chinese in California
The Building of the RailroadsImpact upon American economy:
Steel production
The Building of the RailroadsImpact upon American economy: Communications
The Building of the RailroadsImpact upon American economy: transportation of people/goods
The Building of the RailroadsImpact upon American economy: Related industries
mining
lumbermanufacturing
The Building of the RailroadsThe emergence of the Railroad Barons:
“The Commodore” Cornelius Vanderbilt
William VanderbiltLeland Stanford
James J. Hill
Jay Gould
Cornelius [“Commodore”] Vanderbilt
Cornelius [“Commodore”] Vanderbilt
Can’t I do what I want with my money?
Can’t I do what I want with my money?
The Power of the Railroads
William VanderbiltWilliam Vanderbilt$ The public be
d****d!
$ What do I care about the law? H’aint I got the power?
$ The public be d****d!
$ What do I care about the law? H’aint I got the power?
The Power of the RailroadsMore powerful than the government
The Power of the RailroadsEconomic Exploitation of America:
the “pool”: the division of railroad traffic among various “competitors”
Led to higher rates for farmers and lower wages for workers
The Transcontinental Railroad
Obstacles: Dangerous conditions, Indian attacks,mountain ranges, labor troubles, weather
The Trans-Continental RailroadMay, 10, 1869: meeting
of the Union and Central Pacific RRs.
THE ROBBER BARONS!
The ‘Robber Barons’ of the PastThe ‘Robber Barons’ of the Past
