Industrialization Industrialization u u u American Industry Revolution

Industrialization

Industrialization u u u American Industry Revolution started in early 1800’s Progressed slowly • 1860 1. 3 Million worked in Industry • Population = 30 Million After Civil War Industry took off • Early 1900 US=World’s leading industrial nation • 1914 US Gross National Product 8 X greater the 1865

What led to these changes? Resources u People u Government involvement u Technology u

Natural Resources The US had vast natural resources Water Timber Coal Iron Copper u Bought cheaply, don’t need to import u Most resources were in the West -Settlement helped to locate them u Expanding RR brought settlers west and took material east u

Natural Resources u New resources Petroleum (oil) • Kerosene for lamps and stoves • Basis for petroleum industry u By 1900 – Oil wells from PA to TX

The Workforce u u u 1860 -1910 – US population tripled Workers = lower class white freed slaves Immigrants Increase in population = higher demand for consumer goods

The Workforce u Economic Cycle People Work Earn Money Factories Make More Buy Stuff

Government Role in Industry u Laissez-Faire – French for “Let Do” • Government should not interfere w/ business u Governments Role: Decrease spending, decrease taxes u No costly regulations u No wage or price control u u Trying to create Free market Competition Greater efficiency Supply and Demand regulates market

Government Role In Industry legislation to help business = Tariffs & Subsidies u passed the Morrill Tariff = triple tariff u Higher Tariffs hurt Americans in foreign trade -opposite of Laissez-Faire -Europe placed higher tariffs on US goods u

Inventions u u u Light bulb Thomas Edison 1879

Inventions u u u Phonograph Thomas Edison 1877

Inventions u u u Telephone Alexander Graham Bell 1876

inventions u u u Gas powered car Duryea Brothers 1895

Inventions u inventions helped increase national production; improve transportation and communication