U.S. Industrializes After Civil War, the U.S. rapidly expands Millions left their farms to work in mines and factories Early 1900s, the U.S. becomes the world’s leading industrial nation By 1914, the GNP was 8 times greater than at the end of the Civil War GNP (gross national product)- total value of all goods and services produced by a country

Reasons Abundant Natural Resources U.S. was fortunate to have an abundance of natural resources: water, timber, coal, iron, & copper Could be obtained cheaply and not have to be imported from other countries Mining and the Transcontinental RR helped spark the growth of industry

Reasons Abundant Natural Resources Oil was found. High demand for kerosene. Edwin Drake (1859) drilled first oil well in PA, then spread all the way to TX by 1900, fueling economic expansion. First Oil Well

Reasons Large Work Force Human resources were as important to industrialization as were natural resources Between 1860 & 1910, U.S. population tripled People were having larger families Large number of immigrants to U.S (About 20 million arrived between 1870 – 1910) Italian Immigrants 1880

Reasons Free Enterprise Practice of “laissez-faire” (let people do as they choose) Belief that government should not interfere with the economy Relies upon supply & demand creating competition among businesses & lower prices Adam Smith

Reasons Free Enterprise Many entrepreneurs (people willing to risk their money to start a business) appeared in late 1800s Private capital from foreign investors (make more $ in U.S. than home countries) also helped spur industrial growth. The majority of foreign investors were British.

Reasons Government’s Role in Industrialization U.S. practiced laissez-faire in late 1800s: low taxes, low spending, little regulation of businesses, wages, and prices During the Civil War the Morrill Tariff was passed to protect American businesses and to allow them to compete with Western Europe

Reasons Government’s Role in Industrialization Higher tariffs contradicted laisses-faire and hurt American trade as foreign countries raised tariffs on U.S. products also The higher tariffs also hurt farmers who wanted to sell their products to Europe. Ironically the problems farmers faced may have helped to speed up the Industrial growth as many rural Americans left their farms and headed to the cities to take jobs in factories.

Technology: New Inventions Alexander Graham Bell Telephone 1876

Technology: New Inventions

Technology: New Inventions Thomas Edison Thomas Edison created 1,093 inventions. He was still inventing when he died on October 18, 1931.

Technology: New Inventions Thomas Edison The Light Bulb Edison began work on the light bulb in This led to the 1st commercial light system; constructed in Manhattan.

Technology: New Inventions Thomas Edison The phonograph was Edison’s favorite invention, patented in It was developed due to his involvement with the telegraph and the telephone. Edison wanted a phonograph in every home. The first phonograph used tin foil on a cylinder, Edison recorded Mary Had A Little Lamb

Technology: New Inventions Thomas Edison Motion Picture Camera (kinetograph) Talking Doll Electric Motor Storage Battery Motion Picture Viewer (kinetoscope) Founded the motion picture industry