Industrial Giant Research Paper

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Industrial Giant American manufacturing flourished for many reasons, for one new natural resources were discovered and exploited steadily, thereby increasing opportunities. These opportunities, in turn, attracted the brightest and most energetic and expanding population. The growth of the country added constantly to the size of the national market, and protective tariffs shielded that market from foreign competition. The foreign capitals entered the market freely, in part because tariffs kept out so many foreign goods. The first big business was railroads in 1886 by Charles Francis Adams, Jr. He wanted to find a carrier which he could succeeded in, he was “fixed on the railroad system as the most developing force and the largest field of the day, and determined to attach myself to it”. Railroads were important first as an industry in themselves. Less than 35,000 miles of…show more content…
Banking laws, tariffs, internal-improvement legislation, and the granting of public land to railroads are only the most obvious of the economic regulations enforced in the nineteenth century by both the federal government and the states. Americans saw no contradiction between government activities of this type and the free enterprise philosophy, for such laws were intended to release human energy and thus increase the area in which freedom could operate. These tariffs stimulated industry and created new jobs, railroad grants opened up new regions for development. Public had fear of the industrial giants reflected concern about monopoly. If standard Oil dominated oil refining, it might raise prices inordinately at vast cost to consumers. Charles Adams said “In the minds of the great majority, and not without reason, the idea of any industrial combination is closely connected with that of monopoly, and monopoly with
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