The 2nd Industrial Revolution and the Robber Barons Guilden Age Rural Urban The Steam Engine By 1870 they did more work than animals and humans Huge advances in productivity would not have been In wide use since the 18th century possible without it Resources Used to Power the 2nd Revolution Wood Coal o Prior to 1850 o Led to deforestation o By 1870 more machines used coal than wood o More efficient and easier to transport Oil Petroleum o Late 1900 s o Kerosene was first used Originally used whale oil o John D Rockefeller 1870 standard oil company Horizontal Integration Combining a number of firms engaged in the same enterprise into a single corporation Trusts Large diversified corporations which dominated the late 19th century Created when stockholders of several companies conveyed their shares of those companies in trust to trustees Railroads Standardization o Had different gauges now uniform o Time Zones 4 time zones to regulate traffic 1st Transcontinental Railroad o Connected East and West o Omaha to Sacramento o Gould Scandal o Union and Pacific sabotaged people o Promontory Point Utah Where the two Railroads met in 1869 The golden Spike o 1871 Giving land comes to an end because of democrats Jay Gould Robber Baron o Went out and bought failing Railroads for cheap Steel Henry Bessemer o British Inventor o The Bessemer Process 1854 o Revolutionized steel manufacture o Process decreased the cost and labor of steel making o Before it was to expensive Open hearth furnace o Enabled mass production of Steel Andrew Carnegie o Hired for personal assistant o Cost Cutter o Bought Steel Mill Carnegie Steel Corporation o Used Vertical Integration o By 1900 was the largest company The Gospel of Wealth Controlling the companies needed to make steel o Encouraged businessmen to become philanthropists o Create charities and endorsements o Gave away all his money
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