FSU AMH 2020 - The 2nd Industrial Revolution and the Robber Barons

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The 2nd Industrial Revolution and the Robber Barons-Guilden Age-Rural->UrbanThe Steam Engine- In wide use since the 18th century- By 1870 they did more work than animals and humans- Huge advances in productivity would not have been possible without itResources Used to Power the 2nd Revolution- Woodo Prior to 1850o Led to deforestation- Coalo By 1870 more machines used coal than woodo More efficient and easier to transport- Oil: Petroleumo Late 1900’so Kerosene was first used Originally used whale oilo John D Rockefeller 1870 standard oil companyHorizontal Integration- Combining a number of firms engaged in the same enterprise into a single corporationTrusts- 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- Standardizationo Had different gauges, now uniformo Time Zones 4 time zones to regulate traffic - 1st Transcontinental Railroado Connected East and Westo Omaha to Sacramentoo Gould Scandalo Union and Pacific sabotaged peopleo Promontory Point, Utah Where the two Railroads met in 1869 The golden Spikeo 1871-Giving land comes to an end because of democrats- Jay Gould (Robber Baron)o Went out and bought failing Railroads for cheapSteel- Henry Bessemero British Inventoro The Bessemer Process, 1854o Revolutionized steel manufactureo Process decreased the cost and labor of steel makingo Before it was to expensive- Open-hearth furnaceo Enabled mass production of Steel- Andrew Carnegieo Hired for personal assistanto Cost Cuttero Bought Steel Mill Carnegie Steel Corporationo Used Vertical Integration Controlling the companies needed to make steelo By 1900 was the largest company- The Gospel of Wealtho Encouraged businessmen to become philanthropistso Create charities and endorsementso Gave away all his


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FSU AMH 2020 - The 2nd Industrial Revolution and the Robber Barons

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