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Chapter 14 The Rise of Industry

Chapter 14 The Rise of Industry. Section One – The Rise of Industry. The United States Industrializes In 1860 only 1.3 million (of 30 million people) worked in industry. By 1900 the U.S. was the world’s leading industrial nation, by 1914 the GDP was eight times higher than it was in 1860

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Chapter 14 The Rise of Industry

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  1. Chapter 14 The Rise of Industry Section One – The Rise of Industry

  2. The United States Industrializes • In 1860 only 1.3 million (of 30 million people) worked in industry. • By 1900 the U.S. was the world’s leading industrial nation, by 1914 the GDP was eight times higher than it was in 1860 • Natural Resources • Timber, Coal, Iron, Copper • Railroads and people spread west • Petroleum began to be developed • Edwin Drake – Titusville, PA

  3. II. A Large Workforce a. The U.S. population nearly tripled from 1860-1900 b. Large families and immigration (20 million) III. Free Enterprise a. Government didn’t interfere with the economy (laissez-faire) b. Small government debt, market forces, entreprenuership IV. Government Role in Industrialization a. Taxes, spending and regulation was kept low b. Morill Tariff (Tripled tariffs by 1865) c. $65 million in loans to build railroads in the West d. Sold public lands for less than market value

  4. New Inventions • Alexander Graham Bell – Formed Bell Telephone 1877 • Thomas Edison – Formed General Electric 1889 • Technologies Impact • Refrigeration began in the 1870’s • Standard sizes and faster manufacturing of textiles • 1866 telegraph cables laid across the Atlantic • Radio’s common in American homes by the 1920’s

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