The Rise of The Rise of IndustryIndustry

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Industrial Growth due to:Industrial Growth due to:

1. Wealth of natural resources1. Wealth of natural resources 2. Explosion of inventions2. Explosion of inventions 3. Growing urban populations 3. Growing urban populations

provide new marketsprovide new markets 4. Market System/Capitalism4. Market System/Capitalism

Natural ResourcesNatural Resources

OilOil– Abraham GesnerAbraham Gesner discovers kerosene discovers kerosene

can be used to light lamps can be used to light lamps – 1859- 1859- Edwin DrakeEdwin Drake First to use a steam First to use a steam

engine to drill for oilengine to drill for oil

SteelSteel

U.S. has abundant raw materials to U.S. has abundant raw materials to produce steelproduce steel– Iron ore Iron ore – CoalCoal

Uses for SteelUses for Steel

RailroadsRailroads

Uses for SteelUses for Steel

Joseph Glidden’sJoseph Glidden’s barbed wire barbed wire

Uses for SteelUses for Steel

John DeereJohn Deere’s Steel Plow’s Steel Plow Cyrus McCormick’s Cyrus McCormick’s Mechanical Mechanical

ReaperReaper

Uses for SteelUses for Steel

Brooklyn BridgeBrooklyn Bridge

Uses for SteelUses for Steel

Home Insurance Building in ChicagoHome Insurance Building in Chicago

Inventions Create ChangeInventions Create Change

ElectricityElectricity– Thomas Alva EdisonThomas Alva Edison

invented first incandescent light bulbsinvented first incandescent light bulbs set up power plants around country set up power plants around country used direct current which was dangerous used direct current which was dangerous

Nikola TeslaNikola Tesla

Discovered Alternating CurrentDiscovered Alternating Current Could be carried further on electric Could be carried further on electric

lineslines

Electricity ContinuedElectricity Continued

George WestinghouseGeorge Westinghouse – made electricity safer and cheaper made electricity safer and cheaper – introduced alternating currentintroduced alternating current

Other InventorsOther Inventors

Christopher Christopher SholesSholes– Invented the Invented the

typewritertypewriter

Other InventorsOther Inventors

Alexander Graham BellAlexander Graham Bell – Invented the telephone in 1876Invented the telephone in 1876

CapitalismCapitalism

Economic system where the means Economic system where the means of production are privately owned of production are privately owned and operated for profitand operated for profit

Laissez FaireLaissez Faire

Economic policy popular in the Economic policy popular in the 1800s. 1800s.

Gov’t does not interfere with Gov’t does not interfere with businessbusiness– Low taxes, low gov’t debt, no regulationLow taxes, low gov’t debt, no regulation

TariffsTariffs

Taxes on importsTaxes on imports– Make foreign goods Make foreign goods

more expensive so more expensive so domestic goods are domestic goods are more competitivemore competitive

– Contrary to laissez Contrary to laissez faire attitudes, but faire attitudes, but aided businessaided business

– I.e. Morrill Tariff-I.e. Morrill Tariff-tripled tariffs tripled tariffs