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Industrialization, 1865–1901

Industrialization, 1865–1901. Chapter 3 Summary. The Rise of Industry. The United States had abundant natural resources of timber, oil, and other minerals. The country had a cheap immigrant labor force to fill the millions of jobs.

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Industrialization, 1865–1901

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  1. Industrialization, 1865–1901 Chapter 3 Summary

  2. The Rise of Industry • The United States had abundant natural resources of timber, oil, and other minerals. • The country had a cheap immigrant labor force to fill the millions of jobs. • Thomas Alva Edison and George Westinghouse founded companies that supplied electricity to New York City and Buffalo. • Alexander Graham Bell revolutionized communication by inventing the telephone. • High tariffs reduced the import of foreign goods.

  3. The Railroads • The first transcontinental railroad was completed in 1869. • Rail networks united regions and stimulated economic growth. • Cornelius Vanderbilt and James Hill consolidated and built lines from the East to the West. • The great wealth of railroad entrepreneurs led to corruption by some.

  4. Big Business • The growth of big business led to the development of pools, trusts, holding companies, and monopolies. • The practices of some big businesses in some cases limited competition. • Small businesses could not compete with economies of scale and large businesses. • Retailers sold directly to consumers and relied heavily on advertising. • Andrew Carnegie began the vertical integration of the steel industry. • John D. Rockefeller achieved almost complete horizontal integration with his company, Standard Oil.

  5. Unions • Low wages, long hours, and dangerous working conditions were common in large scale industries. • The first large unions formed but had little bargaining power against larger companies. • Unions often used strikes to improve working conditions and wages. • The Knights of Labor opposed strikes in favor of arbitration and boycotting. • The American Federation of Labor became the biggest union in the country by 1900. • Women made strides in the workplace with labor leaders, such as Mary Harris Jones.

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