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Technology & Business: Advancement and Setback

Technology & Business: Advancement and Setback. Western Ranching. Growing populations and rising standards of living in the East created a demand to move cattle East. How to get cattle to the East alive? Long drive to shipping rails 8-18 Cowboys for every 300-1000 cows

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Technology & Business: Advancement and Setback

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  1. Technology & Business: Advancement and Setback

  2. Western Ranching • Growing populations and rising standards of living in the East created a demand to move cattle East. • How to get cattle to the East alive? • Long drive to shipping rails • 8-18 Cowboys for every 300-1000 cows • Hard, dangerous, and dirty work

  3. Think about your idea of a typical cowboy: • Now consider: • About 1 in 5 cowboys was Mexican, and 1 in 7 was black.

  4. Railroads • 1870-1880: • 4 transcontinental railroads built • Encourages more settlers • Railroad Companies & Government • Sell land to settlers for $2-$10/acre- • Need railroads to bring supplies to build their homes!

  5. RR’s influence on Public • Before Time Zones were set, when traveling to the east or to the west, would have to change by 1 minute every 12 miles to always have the correct time. • Standard Time Zones= 4 in U.S.

  6. Technology-practical application of science to industry. • 1st Industrial revolution= Steam engine • 2nd Industrial revolution • Electricity • Build factories near raw material and labor • S.F.B. Morse> telegraph • Ties the nation together. • Thomas Alva Edison • Light bulb, phonograph, microphone, motion picture camera. • Alexander Graham Bell • Telephone

  7. What would your life be like without:

  8. Advances in Industrialization • Steel and Henry Bessemer • The Bessemer process revolutionized steel manufacture by decreasing its cost, and greatly increasing the scale and speed. • Steel mills of Pennsylvania were supplied with immigrants from Eastern Europe (Slavic) • Natural Resources • Silver>Comstock Lode, Nevada • Iron Ore>Minnesota • Coal>Appalachian Highlands • Oil>Edwin Drake-Titusville, Pennsylvania

  9. Business • No Government intervention (laissez faire) • Robber Barons • Raise money through selling shares. • Company run by a Board of Directors • Trust • A combination of corporations aimed at creating a monopoly (eliminate competition). • By 1900> 4/5 of all American businesses were trusts.

  10. Andrew Carnegie • U.S. Steel • Richest Man in the World • Vertical integration • Controlling all parts of process of making one product

  11. How to Get Vertical Integration You buy all the: You get a monopoly on:

  12. John D. Rockefeller • Standard Oil • Horizontal Integration • Controlling many companies in the business of producing the same or similar products

  13. How to get Horizontal Integration:

  14. Other Robber Barons • Cornelius Vanderbilt> Railroads • James B. Duke>Tobacco • J.P. Morgan> banking • Philanthropists>give away money to needy groups.

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