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The Rise of Industry

The Rise of Industry. Chapter 24 Pgs. 341 - 355. 24.1 Introduction. After the Civil War, new inventions and businesses created a larger industry. 24.2 Improved Technology. Benefits of steel - stronger and lasted longer than other metals Downside – difficult and costly to make

nathalie-dumont
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The Rise of Industry

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  1. The Rise of Industry Chapter 24 Pgs. 341 - 355

  2. 24.1 Introduction • After the Civil War, new inventions and businesses created a larger industry

  3. 24.2 Improved Technology • Benefits of steel - stronger and lasted longer than other metals • Downside – difficult and costly to make • Andrew Carnegie started first steel company in the US and made it cheap to buy • Thomas Edison transformed electricity and made it practical for everyone to use • Edison built the first electrical power plant in NYC • Alexander Graham Bell invented the telephone to make communication quick and easy • Assembly-lines produced more goods per day at less cost

  4. 24.3 The Rise of Big Business • Corporation – a business owned by many investors • Stock – bought by investors in hopes to receive some of the corporations profits • John D. Rockefeller created oil companies because it was a valuable resource • Monopoly – company that controls all production and sales of a particular product or service • Rockefeller owned 95% of the nations oil refineries

  5. 24.4 The Growth of Cities • Urbanization – many moved to cities looking for jobs in new industry’s • Tenements – cheap housing or apartments, which were like a prison, very unclean, NO heat, water, windows, and sewer services • Skyscrapers – buildings 10 or more stories high, elevators, rents cheaper higher up

  6. 24.5 Working Conditions • Wages were so low because many looking for jobs • Men could not support families • $1 - $3 per day • Workers easily replaced with new ones • Millions of children worked for $1 - $3 per week

  7. 24.6 Labor Unions • Trade Unions – labor organization that brought workers together to fight for better wages and working conditions • Strike – refuse to work until employers agree to demands by employees • Homestead Strike – Carnegie Steel Plant, PA • Henry Clay Frick refused demands • Reopened plant with non-union workers • Hired 300 armed guards to protect strikebreakers • Battle broke out and both guards and strikers died • Collapsed the Union

  8. Questions • Who started the first steel company in the US? • What did Alexander Graham Bell invent? • What did Thomas Edison transform and make practical for everyone to use? • How much of the oil refineries did Rockefeller own? • What were tenements? • Why were wages so low during this time? • What happened during the Homestead Strike?

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