Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
What Factors Promoted Industrial Growth?
|
Development of a factory system between1830-1840
|
|
|
What Were the Different Ways Industry Grew?
|
Railroad next work
Big business received tax breaks Wanted a stable way of doing business to help make $$ |
|
|
What Were the Consequences of Industrial Growth?
|
Depended on an immigrant labor base
|
|
|
Railroads & a National Market
|
Allowed people to make goods and ship them across the country
|
|
|
The Heinz Family & Ketchup
|
Grew everything needed to make Ketchup
Midwest, Illinois Bought their own bottling plant |
|
|
The Swift Family & Meat
|
Meat packing business
Most cows were in the west or south, and had to ship the cows in trains Developed their own railroad refrigerated cars to store the meat |
|
|
Andrew Carnegie & Steel
|
Not American born, born in Scotland
Better ways to make railroad tracks Steel much more durable Needed “Coke” soft coal Paid close attention to everything that was being done. Didn’t buy insurance Didn’t treat his workers well U.S. steel |
|
|
John D. Rockefeller & Oil
|
Born on the east coast, moved to Cleveland, Ohio
Went into the produce business People didn’t understand that oil was something to help make fire Told the railroad people to give him a rebate Would buy out companies, would do anything to drive them out of business Built pipe line Worth a billion dollars today worth 30 some billion |
|
|
The Trust System
|
Went to the other refineries, persuaded them to turn their stock over to him
He called all of the shots Oil refining and extraction, horizontal development growth Was legal at the time |
|
|
J. Pierpont Morgan & the Banking World
|
Most famous, powerful banker
Bailing the railroads out when they went belly up Took over/reorganized the railroads Took over the |
