The Main Components Of The Second Industrial Revolution

What Foner meant as the “Second Industrial revolution” was, “The country enjoyed abundant natural resources, a growing g supply of labor, an expanding marked for manufactured goods, and the availability of capital for investment…in addition, the federal government actively promoted industrial and agricultural development”.(1) The main components for the second industrial revolution started with the government granting land to railroad companies to encourage construction in the west and to also remove “Indians from the Western lands that were desired by farmers and mining companies”.(2) In 1890 two-thirds of American worked for wages. “Railroads made possible the second industrial revolution. “From 1860 to 1880 railroads tracks tripled from the East to the West Coast. During the year 1890 five transcontinental lines transported products of the Western mines, farms and ranches to the east”. (3) With the population growing this crated an expanding market for the production, distribution, and marketing of goods. In 1866 …show more content…
(5) From 1873 to 1897jthe Great Depression took place and during the depression many businesses engaged in ruthless completion and many of the smaller companies were bought out by larger companies. During this era there was no personal or corporate income taxes. This led to large fortunes and economic power. Industrial leaders such as Andrew Carnegie and John D. Rockefeller crated ca combination of awe, admiration, and hostility, among many working Americans…to some they were considered captions of industry or robber barons, who wielded power without any accountability in and unregulated market place”. (598) Their dictoral attitudes, methods, a labor policies were leading to fears for the working class of undermining political and economic