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Industrialization, 1865–1901

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Industrialization, 1865–1901. Chapter 3 Summary. The Rise of Industry. The United States had abundant natural resources of timber, oil, and other minerals. The country had a cheap immigrant labor force to fill the millions of jobs.

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the rise of industry
The Rise of Industry
  • The United States had abundant natural resources of timber, oil, and other minerals.
  • The country had a cheap immigrant labor force to fill the millions of jobs.
  • Thomas Alva Edison and George Westinghouse founded companies that supplied electricity to New York City and Buffalo.
  • Alexander Graham Bell revolutionized communication by inventing the telephone.
  • High tariffs reduced the import of foreign goods.
the railroads
The Railroads
  • The first transcontinental railroad was completed in 1869.
  • Rail networks united regions and stimulated economic growth.
  • Cornelius Vanderbilt and James Hill consolidated and built lines from the East to the West.
  • The great wealth of railroad entrepreneurs led to corruption by some.
big business
Big Business
  • The growth of big business led to the development of pools, trusts, holding companies, and monopolies.
  • The practices of some big businesses in some cases limited competition.
  • Small businesses could not compete with economies of scale and large businesses.
  • Retailers sold directly to consumers and relied heavily on advertising.
  • Andrew Carnegie began the vertical integration of the steel industry.
  • John D. Rockefeller achieved almost complete horizontal integration with his company, Standard Oil.
unions
Unions
  • Low wages, long hours, and dangerous working conditions were common in large scale industries.
  • The first large unions formed but had little bargaining power against larger companies.
  • Unions often used strikes to improve working conditions and wages.
  • The Knights of Labor opposed strikes in favor of arbitration and boycotting.
  • The American Federation of Labor became the biggest union in the country by 1900.
  • Women made strides in the workplace with labor leaders, such as Mary Harris Jones.
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