How far was the growth of the American economy in the years 1890 to 1914 due to the rise of big business? (24 marks) From the years 1890 to 1914, the rise of enormous business prompted mind-blowing development of the American economy. Formation of trusts among the nation's heading organisations, for example, Carnegie Steel and Rockefeller Oil took up a dominant part of the business sectors. The American economy developed quickly amid this period, despite the fact that it was not developing as emphatically as in the 20s. Huge business unquestionably had impact in this development of the economy, yet there are still other additionally political and social impacts to consider.
DBQ Essay 10/11/12 During the 1800's, construction of the Transcontinental Railroad, and the Erie Canal led to great economic growth in the U.S. They both made transporting easier during 1860- 1890. The Erie Canal led to great economic growth in many ways. One way was that it made transporting easier for people and their goods. They used the Erie Canal for many reasons, but the main reason was to bring goods to and from places to make a profit.
In 1890, Russia encouraged a ‘great spurt’ as their industry grew rapidly. A major reason for the exceptional growth was the increase in the output of coal in the Ukraine and of oil in the Caucasus. However, the motives of the tsarist government were military rather than economic. Economic expansion attracted the tsar and his ministers because it was a means of improving the strength of the Russian armed forces, as a growing industry would produce more and better guns, equipment and ships. An outstanding individual involved in Russia’s development was Sergei Witte.
Finally, the ‘Witte System’ enforced extra taxes to the over taxed peasants, creating more funds. Already Witte was making major progress for the ‘economically backward’ Russia and he would go on to make further progress, as industrialisation was finally starting to emerge in Russia, which modernised income greatly in comparison to the grain export industry that they so heavily relied on. The Witte system made continued progress for the Russian economy by the construction of the Trans-Siberian railway line, which ran 7000km across the Russia Empire, from St Petersburg in the West to Vladivostok in the East. Due to the Trans-Siberian railway, communication was vastly improved as it connected the whole of the vast size of Russia. Also, as it reached the Pacific Ocean, it meant Russia could trade with Asian countries such as China and Japan, due to shipping ports, and could reach back to St Petersburg.
The railroads was the first big business in the late 19th century that was a big part of the building the economy future. Railroads grew into a big and more integrated system with people like Cornelius Vanderbilt and Jay Gould who became the most wealthiest and powerful people in the country. Of course there were more developments like equipment standardization, time zones, land grants that made this business big. Railroads not only was the 1st bug business but contributed to the growth of other areas. Iron, Oil, and Electricity also grew along with the railroad industry.
CHAPTER 28 The New Power Balance, 1850–1900 CHAPTER OUTLINE I. New Technologies and the World Economy A. Railroads 1. By 1850 the first railroads had proved so successful that every industrializing country began to build railroad lines. Railroad building in Britain, France, Germany, Canada, Russia, Japan, and especially in the United States fueled a tremendous expansion in the world’s rail networks from 1850 to 1900.
Generally, the agriculture production in this period saw a rise from the 74.5 million tonnes of grain harvested in 1913 (while Russia still operated under the Tsarist regime) to 97.1 million in 1940 [8] . This then had the effect of increasing industrial growth as there was more food to support the workers with. A lot of this grain was used for export purposes; this portrayed communist Russia as a rich and
The rapid industrialisation increased immigration into the US making necessary city growth. Exemplifying this, the borough of Queens, across from the East River of Manhattan, doubled its population in the 1920s. Similarly, Grosse Point Park near Detroit grew 7000 percent as well as Shaker Heights outside Cleveland growing 1000 percent. Urbanisation was impacted greatly by industrialisation and caused great changes to the US in the 1920s. In the 1920s period, America experienced rapid economic growth.
This was changed when the rouble was put on the golden standard, many people and countries invested such as; factory owners from Bradford as well as Belgium, France and Britain. * The Witte system sponsored development by the government, the place emphasis on heavy goods production like steel and iron ore. Paragraph 2: * These reforms had a dramatic impact. * Coal, and iron ore production rose and by 1903 the Trans-Siberian railway was nearly completed. * There was large industrial growth in Petersburg, Moscow, Baku and Ukraine. * The cities grew very fast.
In Britain, during the time period from 1750-1900, the offering of new services and products greatly promoted trade among the nations. The reconfiguration of the steam engine design coupled with the availability of inexpensive steel meant that sailing ships which were slow and obsolete could now be replaced with faster steamship. The ships could now handle more trade and utilize smaller crews. Also moving to the forefront were chemical industries. A man by the name of Michael Faraday is responsible for forming the foundation of electric motor technology during this time, as he discovered electromagnetic induction and invented electromagnetic rotary devices.