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Period: to
Industrial Revolution
Starts in Great Britain in late 1700's and uses mass production fueled by unskilled labor, coal, and water power. Helps factories but hurts workers and living conditions improve greatly -
Period: to
Results of Industrialization
North and south develop different economies, women go into workforce and spark social progress, immigration increases due to opportunity, urbanization increases since most jobs are in cities, monopolies are formed, labor tensions and strikes develop, railroads lead to westward expansion, consumerism grows rapidly -
End of War of 1812
American realization of need for self-sufficiency and industrial revolution -
Henry Clay's American System
Tariff of 1816 is imposed to support and protect American industry -
Industries in U.S.
Northeast industries spawn first in RI by making textiles, then the Lowell Mills employ all women -
Creation of Standard Oil by Rockefeller
Rockefeller created standard oil monopoly and dominated oil industry (owned 95%) which was bad for the consumer as prices stayed high, also gained power through ownership -
Cornelius Vanderbilt
Known as the commodore, made tons of money in shipping and railroads and gained power by owning lots of railroads -
Period: to
Reconstruction
South is helped out by north and is sent money to improve infrastructure and make industrial advances -
Transcontinental Railroad is Completed
The transcontinental railroad is completed leading to advances in many industries -
Andrew Carnegie
King of steel, eventually sells steel empire to J.P. Morgan -
Panic of 1873
Mass layoffs occur and there is no government assistance -
Great Railroad Strike
First major strike nationwide and army is sent is to stop it -
Period: to
Gilded Age
Many advances in industrial practices, dominated by owners, large discrepancy in wealth, workers and lower class was hurt, captains of industry or robber barons crushed competition -
Homestead Strike
Strikes in steel mills -
Regulation of Key Industries
Tariffs are reduced, financial gap between classes shrinks -
Coxey's Army
Mass protest in D.C. but are dispersed -
Pullman Strike
Railroad strike that led to violence -
Period: to
Progressive Age
Workers gain rights and safety, wealth discrepancy is reduced, social reforms improve -
J.P. Morgan
Bought steel empire from Carnegie, king of banking, took control of all banks under him, makes investments in Edison and GE, bails out U.S. government in 1893 and 1907, fights U.S. in northern securities v. U.S. and railroads are ruled as an illegal monopoly -
IWW (Industrial Workers of the World) is Created
Known as wobblies and fight for workers rights -
Triangle Shirtwaist Fire
Begins progressive movement and 150 women die in the fire