5.2: The Age of the Railroads The growth and consolidation of the RR influence expansion of industry.

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Presentation transcript:

5.2: The Age of the Railroads The growth and consolidation of the RR influence expansion of industry

A. Pacific Rail Road Act Gave Union Pacific and Central Pacific loans and land grants to continue extending tracks 2. From 15 to 50 acres for each mile laid

B. RR: Spanning Time and Space 1. Realities of RR 2. Hazardous work

C. Workers of the RR 1. Central Pacific a.Asian and Mexican b.Poor working conditions

C. Workers of the Railroad 2. Union Pacific RR Co. a.Immigrants from European countries b.Treated better than their nonwhite counterpart

D. Standardized Time Zones 1918

E. Last Spike: Promontory Summit, Utah

F. RR Spur Growth: Opportunities 1. Towns a.New towns dev. Along RR lines b.Supplied products to passerb 2. Markets a.Promoted trade b.Towns specialized in specific products 3. Economy Stimulated 4. Consolidation of RR’s a.Cornelius Vanderbilt b.NY and Chicago

Transcontinental RR = Interconnectedness?

G. Robber Barons 1. Business men who practiced questionable business practices gaining huge personal wealth 2. Land grants were more profitable than operating RR = ?

G. Robber Barons 1. Jay Gould was 2. James J. Hill was not a.Great Northern RR b.Passes rails by established towns and offered low fares c.Hauled goods both east and west = increased profits

H. Credit Mobilier Construction Company 1. Influential stockholders of Union Pacific made contracts with themselves 2. Paid off congressmen 3. Scam from start to finish 4. No one prosecuted