Railroads

• Railroads increased the amount of steel being used in two ways-

1st: The railroads used steel for their rails 2nd: Railroads made it much easier to transport large

quantities of the natural resources needed to produce steel (iron, coal), which increased the demand for those products

Railroads

How were Steel & Rail Industries Connected?

• Railroads also reshaped the steel industry (and many others) by developing vertical integration

• Railroad owners bought iron mills, coal mines, and factories which produced railroad cars

• Railroads helped to spur the “Gilded Age”

Railroads

In 1862 Lincoln signed the Pacific Railway Act which helped create the transcontinental railroad

The railroad connected the east coast to the west coast, opening up settlement in the west

Much of the western portions of the railroad was built by Chinese laborers, specifically brought to the US to work on the railroad

Railroads

Why was Chinese Labor Used to Build Rail Lines?

• Transcontinental railroad helped spur growth by:

– increasing the number of markets (places to sell products)

– requiring enormous amount raw and finished materials to build and supply the railroad

– providing land for settlement

Transcontinental Railroad

John D. Rockefeller• Founded Standard Oil Company in

1870

• To remove competition, Standard Oil bought up oil refineries, so that by 1880 they owned 90% of the refineries in the US, forming a monopoly

• To avoid violating state laws against horizontal integration, Standard Oil formed a trust, a way of merging and controlling other companies

John D. Rockefeller• Horizontal Integration is when

many competing companies are bought up and turned into one large company

• Standard Oil was broken up by the government in 1911 for being a monopoly

• Rockefeller was also a philanthropist, supporting colleges such as Spellman

Any Takers?...

Bobby or Evan, help us understand this concept better.

Explain Horizontal Integration

Thomas Edison

• Invented the phonograph, light bulb, and the motion picture all in the late 1800s

• Created a research lab to develop and perfect his inventions

How would these inventions have an impact on society?

Railroads

• Railroads increased the amount of steel being used in two ways-

1st: The railroads used steel for their rails 2nd: Railroads made it much easier to transport

large quantities of the natural resources needed to produce steel (iron, coal), which increased the demand for those products

Railroads

How were Steel & Rail Industries Connected?

• Railroads also reshaped the steel industry (and many others) by developing vertical integration

• Railroad owners bought iron mills, coal mines, and factories which produced railroad cars

• Railroads helped to spur the “Gilded Age”

Railroads

In 1862 Lincoln signed the Pacific Railway Act which helped create the transcontinental railroad

The railroad connected the east coast to the west coast, opening up settlement in the west

Much of the western portions of the railroad was built by Chinese laborers, specifically brought to the US to work on the railroad

Railroads

Why was Chinese Labor Used to Build Rail Lines?

• Transcontinental railroad helped spur growth by:

– increasing the number of markets (places to sell products)

– requiring enormous amount raw and finished materials to build and supply the railroad

– providing land for settlement

Transcontinental Railroad

John D. Rockefeller• Founded Standard Oil Company in

1870

• To remove competition, Standard Oil bought up oil refineries, so that by 1880 they owned 90% of the refineries in the US, forming a monopoly

• To avoid violating state laws against horizontal integration, Standard Oil formed a trust, a way of merging and controlling other companies

John D. Rockefeller• Horizontal Integration is when

many competing companies are bought up and turned into one large company

• Standard Oil was broken up by the government in 1911 for being a monopoly

• Rockefeller was also a philanthropist, supporting colleges such as Spellman

Any Takers?...

Bobby or Evan, help us understand this concept better.

Explain Horizontal Integration

Thomas Edison

• Invented the phonograph, light bulb, and the motion picture all in the late 1800s

• Created a research lab to develop and perfect his inventions

How would these inventions have an impact on society?