The Rise of Industrial America

What was work like in America in 1860? - 80% lived on farms and less than 5% (1.5 million) worked in factories What was work like in America in the 1890s? - over 5 million Americans worked in factories Why was it difficult to travel from city to city during the Civil War years? - You would have to be transferred several times (railroad tracks were extremely short and only served local needs, it was rare to find any track west of the Mississippi River) What were railroad barons? - In order to create a network of these train lines the various men who were able to make a fortune by financing and organizing these new railroad networks On the west side construction on the Central Pacific Line (Transcontinental Railroad) went up, over, and through the Sierra Nevada mountain range where and by who did it begin? - Sacramento California by the Chinese immigrants On the east side construction on the Union Pacific Line (Transcontinental Railroad) began where and by who? - Omaha Nebraska by the Irish immigrants Where and when was the Transcontinental Railroad completed? - Promontory Point Utah on May 10th 1869 What were the advantages of the railroads? (3) - 1) Less time to move goods and passengers 2)Thousands of new jobs (laborers, train crews, repair workers, sales clerks, etc.) 3) Stimulated the national economy (wood, copper, steel, coal, prices dropped-easier to get items, fruits, and vegetables could be sold to other regions) What were 2 problems with the railrods? - 1) Time (literally) 2) Money Describe the time problems with railroads. - -standardized time zones were introduced in 1883 -why? (to know when package coming) Describe the money problems with railroads. (6) - -extremely expensive to build and operate -developers hated to lose individual profits, but could not risk investing their money alone -money had to be raised from other investors to form corporations -stockholders buy "shares" in the railroad company and together they "own" part of the corporation -one could sell their shares to anyone for any price -investors had limited liability Who was Andrew Carnegie? - The most important producer of steel in America, also invested in oil, captured the largest share of railroad business, went from a poor immigrant to a millionaire Define division of labor. - Each worker specializes in making one particular part, all the parts are then brought together and assembled, made mass production possible Who was Samuel Morse? - Invented telegraph in 1837, sent electronic signals over wire, made it possible for people to communicate over great distances in seconds Who was Alexander Graham Bell? - Invented telephone in 1876 Who was Thomas Alva Edison? - Greatest inventor of his time, invented quadruplex telegraph, improved Bell's telephone, invented phonograph in 1877, invented electric light in 1879, harnessed electricity Who was George Eastman? - Invented roll film and the Kodak camera Who was Aaron Montgomery Ward? - Started a mail order business in 1872, aimed at a rural market, others followed like Sears-Roebuck Define entrepreneurs. - Business leaders and financiers, wealthy investors, took risks, many built businesses out of nothing, new American "hero" at the time