large scale economic downturn was the Panic of 1893. These economic disasters take years if not decades to recover from. Americas Earliest Economic Crisis’s Perhaps the earliest recorded economic crisis in America‚ even with the invention of railroads in the late 1800s‚ was the Panic of 1873 and the Panic of 1893‚ were two major depressions. The Panic of 1873 began after the Civil War‚ during President Grant’s administration. Grant’s policy of contracting the money supply was a key component to
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were addressed in regards to working conditions‚ and other things such as the treatment of the mentally ill and imprisoned. Kansas began to take action for these reforms by establishing child labor laws‚ creating juvenile courts‚ regulating hours if railroad workers‚ and enacting civil service laws. Kansas recognized U.S senator‚ Joseph Bristow as their voice for change. Robert M. LoFollefe and William Borah were spokesmen for the national reform. In the year 1912 Bristow introduced the resolution that
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largest steamship industry‚ he generated an idea of improving transportation system from steamship business to railroad industry. With his brave and decisive‚ he decided to sell his steamship business and invest in a new small business railroad industry. Having good planning skills to develop his company led him to overcome other competitors and became the leader of the largest railroad company in the world at that time. John D. Rockefeller Even if Rockefeller tended to declare bankruptcy in
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plentiful land‚ and expensive labor. Once immigrants started to pour in they would work for a lot less money making industrialization possible. With more manpower‚ for less money they could increase the production at any place. The building of railroads and machines greatly helped industrialization along with the immigrants working for less money. A huge factor in industrialization between 1860-1900 was immigration. About 23 million people came from other countries and immigrated to the U.S in
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America came to see bridges and other structures on which train would operate crossing the country. In addition to transportation‚ railroads contributed to other industries like iron and communications. Iron production grew as well‚ even more than the population during the 1860’s since the demand was so high for railroads. Communication also became important for railroads. According to Understanding the American Promise‚ “in 1844‚ Samuel F.B. Morse demonstrated the potential of his telegraph by transmitting
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system. In 1869‚ the Central Pacific Railroad and the Union Pacific Railroad met in Utah and the Transcontinental Railroad was complete. With it laid the foundation for industrialization. Now that the nation was interconnected physically‚ this allowed for reliable transportation of goods and supplies. Prior to railroads‚ transportation by river was the most reliable source and speed and the size of the cargo were limited by the fastest animal. With railroads‚ the price of shipping fell considerably
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In the late 1800’s‚ farmers believed that the railroad companies were strangling away their profits and the government was in favor of big business thus justifying their feelings of discontent.". The farmers had every right to be upset about their situation because the government saw a need for reform which alludes to the fact that problems existed‚ the railroads had a monopoly on shipping which raised costs and affected profit margins‚ the value of crops had deflated‚ and big business was hostile
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Transcontinental Railroad; The transcontinental railroad was a railroad that connects from the east to the west. The transcontinental railroad was debatably one of the most important aspects to American history. This is because it allowed so much opportunity for people to be able to travel from one side of the US‚ to the other in
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Railroads: rapid transportation Telegraph: invented by Samuel Morse in 1844 o Cyrus W. Field’s transatlantic cable improved overseas communication in 1866 o By 1900 telegraph lines linked all continents in a global
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the lowest levels of the American workforce. Men dug canals; laid railroad track; mined coal‚ copper‚ gold‚ and silver; cleaned stables; drove horses; and laid building
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