Nina Rocchio 3/25/14
U.S. History Period G
How did industrialization affect the economy and the society?
Industrialization and new technology dramatically changed the United States between the years of 1865 – 1914. Industrialization helped the United States grow economically, politically, and socially. It also stated the growth of immigration. The period of industrialization helped the North excel, but it did not help the South.
The Civil War ruined the South’s economy. Since the War ended slavery, there was no way to continue the plantation system, which is what led to their wealth. Many farmers had to sell off parts of their land to pay off debts. Fighting through the hardships the farmers began to reproduce cotton and tobacco.
Growing factories in the North looked to overseas markets for their goods. Thus came the transcontinental railroad, authorized by the Pacific Railroad Act of 1862. It opened new markets in the West and brought products of western farms and mines east. Most of the people creating these railroads were Chinese and Irish immigrants. The federal government supported these railroads by supplying companies with land to build the railroads.
As the nations economy boomed and industries grew larger in the late 1800s,other ways of business appeared. Most businesses wanted to eliminate their completion. When one business has control over a particular field it is called a monopoly. Having a monopoly usually allowed the company owner to raise prices has high as they want.
Another thing that was made illegal were trusts. A trust is when a group of corporations in the same field come together, and combine under a single board of trusties. These trusties controlled all the actions for the...