ipl-logo

How Did The Railroad Affect The Economy

626 Words3 Pages

After the Civil war and reconstruction came to an end many people were still farming and working for themselves. Soon after, “The United States underwent one of the most rapid and profound economic revolutions any country has ever experienced.” (GML 593). Railroads allowed for a national market of goods to be transported from coast to coast. America's economy was growing and “By 1913, the United States produced one-third of the worlds industrial output— more than the total of Britain, France, and Germany combined.” (GML 594).
The railroad business was one of the leading corporations back in the day. There were other major businesses that were growing and competing against one another in order to control an entire industry. People like John D. Rockefeller (Oil industry), Andrew Carnegie(Steel), and J.P. Morgan(banker) were now three of the wealthiest men …show more content…

There were now some very large corporations in power “like U.S. Steel (created by financier J.P. Morgan in 1901 by combining eight large steel companies into the first billion-dollar economic enterprise)” (GML, 598). Carnegie and Rockefeller were also able to build a monopoly for their industry and became very successful. I thought it was very crazy the top 1 percent of the population received the same total income as the bottom half and also had more property than they did. Although some of the wealthy did donate money to libraries and schools I feel like more could’ve been done to help out those in poverty.
Although there were some people that wealthy a majority of people were living in poverty. The American workers weren’t happy with what was going on. Many formed

Show More
Related

Triangle Shirtwaist Factory Fire Essay

565 Words | 3 Pages

The late 1800s and the early 1900s saw an extraordinary increase in the size and the amount of people living in cities in America. Thousands flocked to cities like New York and Boston looking for work in Americas thriving industrial economy, where it was promised that anyone could get wealthy through hard work. As more people began to move into cities the amount of room was beginning to run low, which eventually lead to the first skyscrapers being built in order to create more room. Wealthy individuals who lived in cities lived extravagant life styles, being able to buy the best homes, cloths, and products available to them without having to worry about anything but their social statues. The working class however were living very different

Read More

Robber Barons Mistreatment Of Factory Workers During The Civil War

366 Words | 2 Pages

Consequently to the Civil War, America changed. There was an increase in population, therefore more resources and jobs were needed. Agriculture led production in America and with the surplus in population, a new industry began. The Industrial Revolution, which created innovations, mass production, and factories, was only the beginning of this new phase in America. Then, the industry’s leaders capitalized upon these fresh opportunities and assets.

Read More

Developments In American History Dbq Essay

481 Words | 2 Pages

However, following the Civil War, a new economy was born in the United States, mainly relying on steam-powered manufacturing, the transcontinental railroad, the electric motor, and the practical application of chemistry. Unlike the pre-Civil War economy and business, this new one was dependent on raw materials from around the world and it sold goods not only in Europe, but all around the world. After the Civil War, business organization also expanded in size and scale. As far as industrial changes go, the period after the reconstruction era was affected in that it used more modern methods to make goods that could be sold faster and more efficiently, with the new railroad system. By the beginning of the 20th century, the nation’s industry would be mainly fueled by banking, manufacturing, meat packing, oil refining, railroads, and steel, as opposed to the pre- Civil War era, in which many people were still farmers or factory

Read More

How Did The Railroad Affect The Gilded Age

413 Words | 2 Pages

The Gilded Age, created a big impact with the use of technology, it affect the people and the environment of that time period. Many things helped contribute to this affect, like the Bessemer Process, railroads, oil, and light. The Bessemer process help make steel at much faster rate; therefore it helped make railroads and skyscrapers for the future. Andrew Carnegie, one of the richest men at the time, helped with the steel industry and production. He was the man who made the steel industry grow and make it built things that we thought weren't even imaginable during that period.

Read More

How Did The Transcontinental Railroad Affect The California Economy

546 Words | 3 Pages

Just as the railroad created economic growth it also brought a lot of corruption with it. The railroad companies were given government bonds that were funded by the taxpayers and they were also given enormous amounts of land to build on. There was little incentive to function efficiently or responsibly. ‘Stocks were manipulated, as bosses bought struggling eastern rail companies, spread rumors that the railroad line would link to these companies.’ (Coffey, W, Corruption and the Transcontinental Railroad, http://waltercoffey.wordpress.com/2013/01/17/corruption-and-the-transcontinental-railroad/).

Read More

How And Why Did Transportation Developments Spark Economic Development From 1860 To 1900

1201 Words | 5 Pages

How and why did transportation developments spark economic growth during the period from 1860 to 1900 in the United States? The period from 1860 to 1900 was marked by significant economic growth in the United States, fueled in large part by the development of transportation infrastructure. This essay will examine how and why transportation developments sparked economic growth during this period, exploring the impact of railroads, canals, and steamships on the American economy.

Read More

How Did The Transcontinental Railroad Affect The Economy

314 Words | 2 Pages

In the late 1800s, the Transcontinental Railroad was constructed and that transformed the United States in many ways. This railroad helped expand the United States out to the west that could sew the country together and be connected in some sort of way. The Transcontinental Railroad impacted the United States economically by populating new areas for agriculture and mining, taxing railway shipping, and by importing and exporting. To start off with, a reason for an economic impact is the way the railroad helped populate new land that can open for mining, agriculture, and retail. Due to being able to mine, farm, and sell more helps the country expand in valuable resources found in the country, while also being able to sell food and clothes the

Read More

Summary Of Andrew Carnegie's Wealth

1191 Words | 5 Pages

America was facing greater problems than just the gap between the rich and the poor. Agriculturalists in the South were not losing control of the distribution of their goods with the emergence of the railroad. Industrialists like Carnegie used the railroad to collect additional money from poor farmers who wanted to ship their goods to the market to be sold. The industrialists were getting rich because they were taking advantage of the poor, which Carnegie should have recognized, but failed to do so because he was one of the wealthy industrialists. As the industrialists built big corporations and railroads across America, they continued to amass wealth that could not be matched by the agricultural regions no matter how much money was provided to the farmers and poorer individuals of society.

Read More

What Impact Did Railroad Have On The Economy Between 1820 And 1860

498 Words | 2 Pages

In 1830 the Baltimore and Ohio railroad tested a steam powered train this lead to Americans developing their own railroads.(pg. 256) Railroads helped transport goods and people move across the country faster than ever before. Railroads were used for many other things including transporting mail from one place to another. This helped people communicate with one another faster. By 1810 and 1820’s the number of letters delivered sent out went up by five million annually and cut the time in half to reach between cities and states.

Read More

Compare And Contrast The Economy After The War Of 1812 And The Era Of Good Feelings

537 Words | 3 Pages

Additionally, due to the railroads being built all across America, new raw materials were able to be moved from city to city allowing for rapid industrial and manufacturing growth which America always was challenged of since its break from Britain. The industrial revolution following the Civil War also differed as agriculture began to become more valuable to a developing nation. For instance, whereas before farmers were isolated from one another and lived in separate homes, due to the reliance of the nation to use the profits derived from agriculture to get more money to buy manufacturing goods stimulating industry more farmers began to move to the cities changing their lives completely. Due to the decrease in the agricultural, scattered, and isolated communities in the Midwest, America was able to become a more compact economic, independent, and industrial powerhouse. For generations, America had relied on old-fashioned, traditional ways of creating

Read More

Building And Growth Of Railroads From 1865 To 1900

736 Words | 3 Pages

Moreover the growth of railroads made it possible for the establishment of business organizations across America because people were much more closer and urbanization played a huge role in making many people and cooperation’s to create and expand their businesses throughout the country making them well known to the public and also help create employment opportunities in the places where businesses where

Read More

How Did The Railroads Affect The Economy

891 Words | 4 Pages

Business owners made lots of money from the railroads because they were able to transport goods farther and faster with ease. Although the railroads tremendously impacted businesses and therefore the economy, the native americans were negatively impacted because the railroads were being laid on “their” land. This caused distrust between the settlers and the natives because of the “disrespect” for the land. Because of the new ways of transportation, the industrial revolution took place causing skilled artisans to be replaced by unskilled workers that used large complex machines.

Read More

Essay On What Role Did The Railroad Play In The Economy Of The 1930s

1064 Words | 5 Pages

Railroads in the 1930s Railroads played a vital role in the economy in the 1930s. They transported people and goods in the 1930s. They were invented by John Stevens, whose nickname is “the father of American railroads'' (“The Beginnings of American Railroads and Mapping | History of Railroads and Maps | Articles and Essays | Railroad Maps, 1828-1900 | Digital Collections”). Despite the depression, the railroads were a very good thing in the 1930s.

Read More

1865 And 1920 Industrialization Analysis

991 Words | 4 Pages

Between the year of 1865 and the year of 1920, the United States moved towards becoming a more industrialized and developing society. With this change taking place, resulted in improvement with how people live with family and earned money differently. The three major aspects of industrialization during the 1865 and 1920 that influenced the politics, economy and society of the United States are: entrepreneurship, technology, as well as transport and communication network. Entrepreneurship: the period after the Civil War from 1865 to 1920 was characterized by fast economic growth in the country.

Read More

Essay On The Impact Of Railroads In America

821 Words | 4 Pages

With the advent of the railroad, many of these issues disappeared. Railroads had a major impact on advancing the American economy, transforming America into a modern society, and improving an antiquated transportation system. The building of railroads created rapid economic growth in America. Railroad companies employed more than one million workers to build and maintain railroads. At the same time, coal, timber, and steel industries employed thousands of workers to provide the supplies necessary to build railroads (Chapter 12 Industrialization).

Read More

More about How Did The Railroad Affect The Economy

Related Topics

Open Document