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The Second Industrial Revolution. Section 1 Chapter 19. Focus Questions. What developments occurred in the steel, oil, and electric-power industries during the Second Industrial Revolution? What changes occurred in the way that businesses were organized?

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The Second Industrial Revolution

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focus questions
Focus Questions
  • What developments occurred in the steel, oil, and electric-power industries during the Second Industrial Revolution?
  • What changes occurred in the way that businesses were organized?
  • Why did some Americans oppose monopolies, and what actions did they take against them?
an age of steel
An Age of Steel
  • Technology advances were important to the Second Industrial Revolution (this was the period of rapid growth in the U.S. manufacturing in the late 1800s)
  • By the mid-1890s the U.S. had become the industrial leader of the world
  • Some of the most important advances took place in the steel industry
an age of steel1
An Age of Steel
  • In the 1850s, Henry Bessemer found a quick, cheap way to make steel by blasting hot air through melted iron to quickly remove waste materials
  • The Bessemer Process took only 10 to 20 minutes to convert several tons of iron into steel
an age of steel2
An Age of Steel
  • The steel rails were at first used for railroad but eventually it will be used for building tall buildings and bridges
  • Air breaks on trains allowed them to carry heavier loads and travel faster
  • George Pullman designed elegant passenger and sleeping cars that made long-distance trips more comfortable
  • Railroads had a major impact on the development of the country’s economy
an age of steel3
An Age of Steel
  • Cities that had major rail lines grew a great deal (Chicago and Kansas City)
  • As rail travel and shipping increased, railroad and their related industries employed more and more people
new sources of power
New Sources of Power
  • The use of petroleum was another breakthrough in the late 1800s
  • Edwin L. Drake proved that it was possible to pump crude oil from the ground (oil became big business)
  • The late 1800s became a time when oil will be used to power machinery
  • In 18767 German engineer Nikolaus A. Otto invented an engine powered by gasoline, another fuel made from oil
  • By the 1900s American manufacturers were building thousands of cars
new sources of power1
New Sources of Power
  • Orville and Wilbur Wright were bicycle makers and built a light weight airplane with small gas-powered engine
  • They first piloted flight on December 17, 1903 in Kitty Hawk, North Carolina and patented the airplane in 1906
new sources of power2
New Sources of Power
  • Thomas Alva Edison investigated the practical uses of electricity
  • He was awarded more than 1,000 patents
  • Edison and his team of inventors invented the light bulb in 1879
  • He also helped provide electricity to cities
new sources of power3
New Sources of Power
  • By 1866 a telegraph wire was laid on the floor of the Atlantic Ocean connecting the U.S. and Great Britain
  • Alexander Graham Bell invented the telephone in 1876
  • By the mid-1890s major cities had telephone lines through out the city
free enterprise and big business
Free Enterprise and Big Business
  • As the economy grew the federal government favored free enterprise– government did not interfere with business
  • The late 1800s the policy continued in the form of laissez-faire capitalism (little or no governmental control of the market economy
  • Laissez faire is French for “allow to do”
  • The government provided protective tariffs and land grants for railroad companies
free enterprise and big business1
Free Enterprise and Big Business
  • Entrepreneurs– people who start new business had a lot of freedom and many opportunities
  • Many entrepreneurs formed their business as corporations
  • Corporations sell shares of ownership (stock) to a number of individuals known as a stockholder
  • Stockholders get a share of the company profits
  • Corporations must be approved by a charter from the state
free enterprise and big business2
Free Enterprise and Big Business
  • The stockholders choose a board of directors who then choose the main leaders of the corporation
  • Stockholders are not personally responsible for the debts of the business (stockholders are only out the money they invested)
  • By 1900, more than 100 million shares a year were being sold on the New York Stock Exchange
business leaders
Business Leaders
  • Entrepreneurs and business leaders were some of the most respected members of American society
  • Politicians praised prosperous businessman as examples of American hard work, talent, and success
  • Andrew Carnegie– was one of the most admired business leaders of the late 1800s
  • He borrowed money and invested in iron mills and the bridge building business
  • In 1873 Carnegie focused his efforts on steel production
  • By 1901 Carnegie’s mills were producing more steel than all of Great Britain’s steel mills combined
business leaders1
Business Leaders
  • He used vertical integration– owning the businesses involved in each step of a manufacturing process (iron ore mines, the coal fields, and railroads needed to support the steel mills)
  • John D. Rockefeller was a powerful businessman who made his wealth in the oil field (Standard Oil Company)
  • Rockefeller also used vertical integration to become the country’s largest oil refiner
  • Rockefeller got lower railroad costs and even convinced some railroad companies not to do business with this competitors
business leaders2
Business Leaders
  • Rockefeller also used horizontal integration which is owning all the business in a certain field
  • By 1880 he controlled 90 percent of the oil-refining business
business leaders3
Business Leaders
  • Rockefeller had a monopoly on oil and formed a trust– grouping together of a number of companies under one board of directors
  • Rockefeller could drive up prices with these practices
social darwinism and philanthropy
Social Darwinism and Philanthropy
  • Many people who favored free enterprise also believed in social Darwinism
  • It was loosely based on Charles Darwin’s theory of natural selection
  • Darwin believed that species evolved by adapting to their environments over long periods of time
social darwinism and philanthropy1
Social Darwinism and Philanthropy
  • Social Darwinism said that “survival of the fittest” also determined who would succeed in human society
  • Some argued that government regulation of business hurt the “natural” economic order
  • It was a poor person’s responsibility to work for a better life
social darwinism and philanthropy2
Social Darwinism and Philanthropy
  • Some felt the wealthy had the duty to aid the poor
  • Some practiced philanthropy-- giving money to the needy
  • Andrew Carnegie gave $350 million to charities during his lifetime
the antitrust movement
The Antitrust Movement
  • Critics of big business said that unfair business practices were responsible for the successes of many large companies
  • Large companies would often drive small companies out of business
  • Trusts would match each other’s prices on goods to avoid competition
the antitrust movement1
The Antitrust Movement
  • Many wanted government to control monopolies and trusts
  • People who favored trusts felt that the trusts were more efficient and gave the consumer dependable products and services
  • Many in Congress were sympathetic to big business but voters wanted change
the antitrust movement2
The Antitrust Movement
  • In 1890 the Sherman Antitrust Act was passed and it outlawed monopolies and trusts that restrained trade
  • The act unfortunately did not clearly define what a trust was in legal terms
  • The law was difficult to enforce and corporations and trusts continued to grow
focus questions1
Focus Questions
  • What developments occurred in the steel, oil, and electric-power industries during the Second Industrial Revolution?
  • What changes occurred in the way that businesses were organized?
  • Why did some Americans oppose monopolies, and what actions did they take against them?