1. Industrialization US History Objectives: **Discuss the rise of the
Progressive Movement
**Detail the rise of President
Teddy Roosevelt
SOL – VUS.8
Timeline – 1870s -1920s

2. Twas a time of Inventions and Innovations
Business and Industry grew rapidly after the Civil War
New inventions reinforce economic development

3. #1Bessemer Steel Process
Henry Bessemer invents a process for making high-quality steel efficiently and cheaply.
Partners with Andrew Carnegie – open a steel company in Pittsburgh in 1875

4. #2 Thomas Edison The Wizard of Menlo Park
Invented the Phonograph in 1877
Perfected the light bulb in 1879
Over 1000 patents and inventions

5. #3 Alexander Graham Bell
Invented the telephone in 1876
Creates first phone company – Bell Telephone
Today it is AT&T

6. #4 Wright Brothers
First successful powered flight at Kitty Hawk, NC in 1903

7. #5 Henry Ford Inventor of the assembly line in 1913
Divides operations into simple tasks
Reduces time of making cars from 12 hours to 93 minutes

8. #6 Corporate America Goal = monopoly – control all aspects of industry
Limited Liability – limits a shareholders risk to only the original investment and is not liable for the debts of the company.

9. Reasons for Economic Transformation #1 Laissez-Faire Capitalism
Favors Business
low to no taxes
low to no Gov’t regulation

10. #2 Increasing labor supply
Millions of immigrants
Rural migration to the city

11. #3 Natural Resources
Coal
Iron
Timber
Water
Copper

12. The Trusts / Monopolies
One company allows another company to “manage” their business
(sneaky way around anti-monopoly laws)
Vertical Integration
Horizontal Integration

13. The Gilded Age (1870s-1900s)
Industrialization creates a huge gap between the rich Robber Barons & everyone else
( the 1% and the 99%)
Poor
Rich

14. The Robber Barons #1 – Andrew Carnegie (1835-1919)
Owned 80% of US steel
Teamed w/ Bessemer to make steel
Vertical Integration – owned all the businesses which depend on the operation.

15. The Robber Barons #2 – John D. Rockefeller (1839-1937)
Owned 90% of US oil - Standard Oil
Horizontal Integration – combined similar businesses into one large corporation

16. The Robber Barons #3 – Cornelius Vanderbilt (1794-1877)
Controlled East USA railroads

17. The Robber Barons #4 - J.P. Morgan (1813-1917)
Major player in US banking, steel, and RRs
(J.P. Morgan & Company)
Richest man in the world
(estimated worth in today’s money = $1.3 billion dollars)