Americas Industrial Revolution

An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. Adam Smith-father of Capitalism Wealth of Nations-1750

Vast and varied natural resources New technology Interconnected transport system Lack of government control Industrialist Skilled labor Unskilled labor

Oil Timber Iron Ore Copper Coal Problem with these resources???

Bessemer Process-more efficient way to produce steel from pig iron. Made mass production of steel possible. Elevators-would not exist if not for the Bessemer process. Why?

Manufactures need a constant flow of new materials Railroads boomed 13,000 miles from 1865 to 255,000 miles of track in 1916 Hell on Wheels

Companies were protected under the 14th amendment Bribery of government officials Wealth of Nations was published in 1776 in England, what did Smith really mean by lack of government?

Men that would take advantage of the economic climate Cornelius Commodore Vanderbilt Andrew Carnegie John D. Rockefeller

Railroad mogul Owned only rail that lead into New York Worth 100 million when he died in 1877

Carnegie starts Carnegie steel in 1877 in Pittsburg PA Largest company by 1900 with 20,000 employees Starts free lend libraries

Standard Oil 1857 1879 Standard Oil owned 90% of Americas refining capacity Created oil pipelines

Made up about 10% of work force From apprentice to journeyman to master Made an average of 20 cents an hour White, native born, protestant aka Old Immigrants

Made up the other 90% of work force Factory, textile, and service work Low, low, low pay..about 3.50 an hour in todays money Long, long, long work weeksaverage 59 hours New Immigrants