HST 210 Chapter Notes - Chapter 18: U.S. Steel, Pennsylvania Oil Rush, Central Pacific Railroad
22 Apr 2016
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By 1900, us dominated global steel, oil, wheat, and cotton markets natural resources, technological advances, increasing population and entrepreneurial skills. Some companies grew through mergers to dominate industries; others by bringing all production processes under the heading of a single company. Brought about the emergence of an organized labor movement for wage workers. Almost no government regulation; supported domestic business by placing high tariffs on imports. Bribery was so common that in 1868 new york state legislature made political bribery legal. Homestead act of 1862 granted 160-acre homesteads to citizens (single women & free slaves too) Farm sector directly stimulates the industrial sector of the economy. Usa was world leader in agriculture by 1870. Railroad helped develop related industries - provided a national market instead of a regional one. The second industrial revolution occurred in germany and usa, taking place due to the development of interconnected transportation/communication networks (telegraph w/
