1. Technology & Business: Advancement and Setback

2. Western Ranching
Growing populations and rising standards of living in the East created a demand to move cattle East.
How to get cattle to the East alive?
Long drive to shipping rails
8-18 Cowboys for every cows
Hard, dangerous, and dirty work

3. Think about your idea of a typical cowboy:
Now consider:
About 1 in 5 cowboys was Mexican, and 1 in 7 was black.

4. Railroads 1870-1880: 4 transcontinental railroads built
Encourages more settlers
Railroad Companies & Government
Sell land to settlers for $2-$10/acre-
Need railroads to bring supplies to build their homes!

5. RR’s influence on Public
Before Time Zones were set, when traveling to the east or to the west, would have to change by 1 minute every 12 miles to always have the correct time.
Standard Time Zones= 4 in U.S.

6. Technology-practical application of science to industry.
1st Industrial revolution= Steam engine
2nd Industrial revolution
Electricity
Build factories near raw material and labor
S.F.B. Morse> telegraph
Ties the nation together.
Thomas Alva Edison
Light bulb, phonograph, microphone, motion picture camera.
Alexander Graham Bell
Telephone

7. What would your life be like without:

8. Advances in Industrialization
Steel and Henry Bessemer
The Bessemer process revolutionized steel manufacture by decreasing its cost, and greatly increasing the scale and speed.
Steel mills of Pennsylvania were supplied with immigrants from Eastern Europe (Slavic)
Natural Resources
Silver>Comstock Lode, Nevada
Iron Ore>Minnesota
Coal>Appalachian Highlands
Oil>Edwin Drake-Titusville, Pennsylvania

10. Business No Government intervention (laissez faire) Robber Barons
Raise money through selling shares.
Company run by a Board of Directors
Trust
A combination of corporations aimed at creating a monopoly (eliminate competition).
By 1900> 4/5 of all American businesses were trusts.

11. Andrew Carnegie U.S. Steel Richest Man in the World
Vertical integration
Controlling all parts of process of making one product

12. How to Get Vertical Integration
You buy all the:
You get a monopoly on:

13. John D. Rockefeller Standard Oil Horizontal Integration
Controlling many companies in the business of producing the same or similar products

14. How to get Horizontal Integration:

15. Other Robber Barons Cornelius Vanderbilt> Railroads
James B. Duke>Tobacco
J.P. Morgan> banking
Philanthropists>give away money to needy groups.