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Discovery of Black Gold
The first oil well was built in 1859 and people called it 'Black Gold' because they considered it just as much of an important discovery as gold. The well was built by Edwin L. Drake and George Bissel. George is often considered the father of the American oil industry while Edwin is remembered for the many inventions he built that drilled for oil. -
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Transcontinental Railroad
Congress created an act known as the Pacific Railroad Act which allowed the flow of government loans and bonds to be given to the companies which were constructing the railroad. The The companies constructing the railroad were; The Central Pacific Railroad Company and the Union Pacific Railroad Company. The railroad would officially be completed on May 10 1869. -
Founding of Standard OIl
John D. Rockefeller would found the Ohio Standard Oil company in 1870 and it would grow to become one of the most influential and powerful oil companies of it's time. It would even grow to become a monopoly, until the government had to intervene because it violated the Sherman Antitrust Act. -
Bell Patents the Telephone
On March 7,1876 Alexander Graham Bell built the first ever telephone. -
Carnegie Steel is founded
Carnegie Steel was founded in 1892 in Pittsburgh, PA. The company managed the steel industry and owned multiple steel mills throughout Pittsburgh. It's founder, Andrew Carnegie (right) became one of the richest men in history.
