what factors influenced american growth and expansion in the late nineteenth and early twentieth...

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influenced American growth and expansion in the late nineteenth and early twentieth century?

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Page 1: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

What factors influenced American

growth and expansion in the late nineteenth and early twentieth century?

Page 2: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Natural ResourcesNatural Resources

• America had tons of natural resources

– Coal, Iron, Oil, Farmland

• Natural resources were used to generate huge profits by new American businesses

Page 3: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Laissez – Faire CapitalismLaissez – Faire Capitalism

• Gov’t should not interfere with private businesses

• Businesses took advantage of people and abused workers’ rights

• Businesses did “anything to turn a larger profit”

Page 4: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Special Business Special Business ConsiderationsConsiderations

• Gov’t granted special privileges to business owners

• Gave free land to railroad owners by stealing it from rightful owners

Page 5: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

ImmigrationImmigration

• Immigrants increased the labor supply

• Businesses paid immigrants as little as possible in order to generate huge profits

Page 6: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

New InventionsTechnology led to new industrial

growth

Page 7: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Transportation

• Airplane – Wright Brothers

• Allowed businesses to transport products to new markets overseas

Page 8: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Business Production• Bessemer

Process – Henry Bessemer

• Made steel cheap and affordable to increase construction of cities

Page 9: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Communication• Telephone –

Alexander Graham Bell

• Allowed businesses to expand to different markets

Page 10: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Communication

• Telegraph – Samuel Morse

• Allowed businesses to expand to different markets

Page 11: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Business Production

• Electricity – Thomas Edison

• Increased production by allowing work at night

Page 12: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Business Production• Mechanical Reaper

– Cyrus McCormick

• Increased farm production and helped clear landscape in west for settlers

Page 13: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Business Production• Alternating Current

– George Westinghouse

• Increased production by allowing electricity to spread across the country

Page 14: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Business Production

• Assembly Line – Henry Ford

• Used by all factories to increase production

Page 15: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

New Business New Business PracticesPractices

Page 16: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

MonopolyMonopoly• One business

owner controls the market of a product

• Drives other competitors out of business by lowering and raising prices

Page 17: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

TrustsTrusts

• One company controls the making of a product

• Allows company to control the price of the product

Page 18: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

CorporationCorporation• Large companies

made up of smaller businesses

• Limited Liability

– Allowed people to invest money with little risk by investing in profitable parts of corporation

Page 19: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Modern Corporations

Page 20: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Robber barons or Robber barons or Captains of Industry?Captains of Industry?

Page 21: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Robber barronsRobber barrons

• Wealthy business owners who lied, cheated, and stole fortunes from average Americans

Page 22: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Captains of IndustryCaptains of Industry

• Smart businessmen who earned their money through legal business practices

• Gave millions of dollars to charity

Page 23: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Andrew CarnegieAndrew Carnegie• Scottish

Immigrant• Created US Steel

–first corporation worth $1 billion dollars

Page 24: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Andrew CarnegieAndrew Carnegie

• Believed in Social Darwinism

–people can do whatever they want to make money

Page 25: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Andrew CarnegieAndrew Carnegie

• Gave 80% of his money back to the public

• Workers protested working conditions in his factories

Page 26: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

J. P. MorganJ. P. Morgan

• Banking tycoon who made millions off of investments and investment companies

Page 27: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

John D RockefellerJohn D Rockefeller• Created the

Standard Oil Company in 1870 (trust)

• Able to control the price of oil in America by owning all aspects of oil production

Page 28: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

John D RockefellerJohn D Rockefeller• Gave $500

million dollars to various charities

Page 29: What factors influenced American growth and expansion in the late nineteenth and early twentieth century?

Cornelius VanderbiltCornelius Vanderbilt

• Made a fortune in the railroad business

• Introduced the use of steel rails and a standard gauge (distance between rails).