HIST206 Study Guide - Comprehensive Final Exam Guide - United States Congress, American Civil War, President Of The United States

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Self sufficient in oil, gas, copper, iron, etc. Fled europe for a reason (young, healthy, willing to work) Us factories are producing more goods than us consumers can afford. Healthy export sector means money is pouring into the us. Post civil war financial transition in the north. Ability to extract and use new resources for monetary gain. Prerequisites for us industrial revolution: natural resources in us, labor. Combining natural resources and labor helps us to become largest exporting nation in the world. Immigrants, former slaves, and children were main sources of labor. Industrial jobs paid poorly, whole family had to work to be sustainable. People move to american cities to find jobs. By late 1890s he controlled about 90% of oil in us. Becomes part of an export sector (looks to china) 12 hours a day 6 days a week. Need fewer people to work on farms = no jobs. When new technology develops, so does extracting goods.

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