the growth of industry riding the rails. focus question what role should government take in the...
Post on 26-Dec-2015
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Factors of Industrialization• Natural Resources• Labor• Capital• Transportation Networks
• Markets• Technological Innovation• Land
Industrial Growth• The late 19th Century saw an explosion in Industrial
Growth in the U.S.• Vast supply of capital from war profits• Stronger financial system in U.S. (National Banking Act)• Expansion of higher education through the Morrill Land
Grant Colleges
Transcontinental Railroad
• Finally came into being through the Pacific Railroad Act of 1862• Connected Omaha to Sacramento• Chartered two companies:
the Union Pacific RR
the Central Pacific RR
Role of the U.S. Government
• Required heavy assistance from the government• Distances too vast• Required too much money for any one company
• Could not be built without government aid
Massive Subsidies
Both received heavy subsidies• Massive land grants
• Right of way along tracks• Ten square miles for each mile of track laid
• Loans• $16K per mile in the plains• $32K per mile in the plateaus• $48K per mile in the mountains
Faced Difficulties• Maintaining a workforce
• Union Pacific hired largely Irish• Central Pacific hired largely Chinese
• Protecting workforce from attack
Sponsored New Industries• Cattle Industry and Cowboys• Lumber Industry• Shipping Industry and Mail Order Houses• The Steel Industry
Transformed Society• Brought settlers and trade west• Promoted city growth• Led to the development of time zones
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