After the Civil War a lot southerners wanted to go back to the plantation life that the region had been characterized by before the war but a few prominent leaders believed that the South should move onto a “new society of small farms, thriving industries, and bustling cities” (Tindall 560). Unfortunately, many farmers could not afford wages and a system of sharecropping was developed where the farmer paid no wages, the worker paid no rent and the two shared the crop they mutually produced. The change led to more intense cultivation and the New South’s biggest accomplishment became their expansion of the region’s textile production. The popularity of cotton mills and tobacco growing grew significantly larger after the Civil War and it was thought that everyone in the South was getting rich, but most southern farmers weren’t flourishing. The system encourage overproduction and led to the
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P. Morgan was also a very successful man. He represented the influence that banks and bankers began to have over general business activity. He started a firm under the name J. Pierpoint Morgan and Company and grew into financial power. Large corporations would take loans from investment firms like his and investment bankers became involved in the operation of their clients’ firm becoming a part of their board of directors. Like Rockefeller, Morgan sought out to oust all his rivals. He bought railroads and Carnegie’s huge steel and iron holdings, making Carnegie rich beyond compare (Tindall 602-603). Another successful man was George Pullman. He was the king of the railways; his railway cars covered the railways. Pullman was a greedy man so he created Pullman housing where his employees would be required to live, pay rent, utility costs, and buy goods from company stores so that all the money went right back to him. When the depression of 1893 hit, Pullman fired thousands of his employees and cut wages but he didn’t cut the cost of living in his company
P. Morgan was also a very successful man. He represented the influence that banks and bankers began to have over general business activity. He started a firm under the name J. Pierpoint Morgan and Company and grew into financial power. Large corporations would take loans from investment firms like his and investment bankers became involved in the operation of their clients’ firm becoming a part of their board of directors. Like Rockefeller, Morgan sought out to oust all his rivals. He bought railroads and Carnegie’s huge steel and iron holdings, making Carnegie rich beyond compare (Tindall 602-603). Another successful man was George Pullman. He was the king of the railways; his railway cars covered the railways. Pullman was a greedy man so he created Pullman housing where his employees would be required to live, pay rent, utility costs, and buy goods from company stores so that all the money went right back to him. When the depression of 1893 hit, Pullman fired thousands of his employees and cut wages but he didn’t cut the cost of living in his company