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Panic and Depression
The Panic was a financial crisis or market correction in the U.S based on a speculative fever. -
The Bessemer Process
Henry Bessemer developed a new method for manufacturing steel. The Bessemer process made possible the manufacture of large amounts of high-quality steel for the first time, thus was able to provide cheap steel. Within a few decades, foundries were making railroad track, bridge girders, locomotives, armor plating, and other steel-based products. -
Pacific Railroad Act
The act was a series of acts passed by Congress to allow transcontinental through authorizing the issuance of gov't bonds and the grants of land to railroad companies. -
The Interstate Commerce Commission
ICC was a regulatory body in the United States created by the Interstate Commerce Act of 1887. The agency's original purpose was to regulate railroads to ensure fair rates, eliminate rate discrimination, and to regulate other aspects of common carriers, including interstate bus lines and telephone companies. It was later dissolved in 1995. -
Americas Wealth
In 1890 9% of Americans held nearly 75% of the national wealth. -
Sherman Ant -Trust Act
In 1890 the federal gov’t passed the Sherman Anti - Trust Act which made trusts illegal. This Act reduces businesses that reduce competition in the martket place. This also gives the United States federal gov’t the right to investigate and eliminate trusts, companies, and organizations commit this violation. -
16th Amendment ratified
This amendment said that Congress shall have power to lay and collect taxes on incomes, without apportionment among the several States, and without regard to any census or enumeration.
