1 / 16

The Growth of Industry

The Growth of Industry. Industrialization: Factors. Plentiful Natural Resources Improved Transportation Growing Population/High Rates of Immigration New Inventions Investment Capital. Steel: Backbone of Industry. Bessemer Process – used less coal to produce steel

adrina
Download Presentation

The Growth of Industry

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Growth of Industry

  2. Industrialization: Factors • Plentiful Natural Resources • Improved Transportation • Growing Population/High Rates of Immigration • New Inventions • Investment Capital

  3. Steel: Backbone of Industry • Bessemer Process – used less coal to produce steel • Nation’s production increased • Steel replaced iron to produce many products • Plows, barbed wire, beams, nails, rails

  4. Steel: Backbone of Industry

  5. Titusville, PA

  6. New Inventions and Innovations • Typewriter • Stock ticker • Phonograph • Electric Lighting • Microphone • Electric Generator • Telephone • Sewing Machine • Standard Sizes

  7. Corporations • 3 Advantages 1. Selling Stocks = more $ 2. Special Legal Status = Banks more likely to loan $ 3. Limits risks of investors

  8. John D. Rockefeller • Oil Industry – First Refinery (1863) • Philosophy – put all competitors out of business (monopoly) • Most famous move = developing a trust in 1882 • Standard Oil controlled 95% of all oil refining in the US

  9. John D. Rockefeller • Became known as a robber baron • Made secret deals with railroads • Built and purchased his own pipelines • Bought other oil companies

  10. Andrew Carnegie • Steel Industry • Philosophy – beat competitors by producing the cheapest product • Bought all the processes related to steel manufacturing • Bought mines, ships, and railroads • Controlled the steel industry from 1889 - 1901

  11. Carnegie and Rockefeller • Both were philanthropists • Rockefeller = Universities of Chicago and New York • Carnegie = Libraries and universities

  12. Homestead Strike • Homestead, PA • Carnegie reduced wages of workers • 300 armed guards were hired, to protect the factory • Employees armed themselves • July 6, 1892 a battle occurred between workers and guards

  13. Homestead Strike

More Related