America Enters the Industrial Age

1
America Enters the Industrial Age

• The Industrial Revolution Continues
• Section 1
• Chapter 20

2
The Industrial Revolution Continues

• Key ? - What new inventions changed life in the
  1800s?
• Factory machines replaced hand tools.
• Manufacturing began to replace farming.
• Causes for growth Steel industry Kelly (US)
  Bessemer in England developed the Bessemer steel
  process.
• Cut the cost of steel increased output 350xs
  between 1867 1900.

3
Edison Bell

• Electric power industry Edison and Latimer
  laboratory in Menlo Park, NJ.
• Invented a safe steady lightbulb system to
  deliver electricity to buildings.
• Bell invented the telephone in 1876. Thomas
  Watson assistant.
• Breakthrough on telephone was an accident.

4
New Industries

• New inventions became the basis of new
  industries.
• Telephone switchboard operators.
• Typewriter Christopher Latham Sholes invented.
• Elias Howe Isaac Singer patented sewing
  machines ready made clothes.

5
Corporations Gain Power

• How did corporations affect business competition?
• Corporations a business owned by shareholders
  investors who buy part of the company through
  shares of stock. \
• Late 1800s few laws regulating corporations.
• Growth of a few powerful corparations.

6
Rockefeller Carnegie

• Rockfeller dominated the oil industry by creating
  a monopoly a company that wipes out its
  competitors. Bought refineries and built
  pipelines.
• Created a trust a legal body created to hold
  stock in many companies, often in the same
  industry.
• Carnegie steel industry wanted to make the
  best and cheapest product by controlling all the
  processes of making steel.
• Philanthropists people who give large sums of
  money to charities.

7
Business Cycle

• Business cycle the pattern of good and bad
  times. Booms good times busts bad times
  lay off workers and make fewer goods.
• Depression period of extremely low economic
  activity.

8
Economic Growth Brings Wealth and Poverty.

• Key ? - What inequalities emerged in the late
  19th century?
• Industrialization raised living standards in US
  and wealth to business owners.
• Did little to help minorities, factory workers,
  and the South.

9
The Gilded Age

• Rags to Riches stories Horatio Alger wrote
  popular stories.
• Mark Twain Charles Warner named it the Gilded
  Age. ( to coat an object with gold) masked
  societys problems of corrupt politics and
  widespread poverty.
• 1890 11 out of 12 million people income 380
  below the poverty line.
• South remained mostly agricultural and continued
  to struggle economically through this period.