American Economy In The 19th Century

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Throughout the late nineteenth and the early twentieth century, the United States economy changed dramatically as the country transformed from a rural agricultural nation to an urban industrial gian, becoming the leading manufacturing country in the world. The vast expansion of the railroads in the late 1800s’ changed the early American economy by tying the country together into one national market. The railroads provided tremendous economic growth because it provided a massive market for transporting goods such as steel, lumber, and oil. Although the first railroads were extremely successful, the attempt to finance new railroads originally failed. Perhaps the greatest physical feat late 19th century America was the creation of the transcontinental railroad. The Central Pacific Company, starting in San Francisco, and the new competitor, Union Pacific, starting in Omaha. The two companies slaved away crossing mountains, digging tunnels, and laying track the entire way. Both railroads met at Promontory, Utah on May 10, 1869, and drove one last golden spike into the completed railway. Of course the expansion of railroads wasn’t the only change being made. Another change in the economy was immigration. After the depression of the 1890s, immigration skyrocketed from a low …show more content…

Some of these inventions such as the refrigerated railroad cars and the cigarette-rolling machine, formed a basis for new industries and fortunes. As the country expanded and industrialized, increasing emphasis was placed upon mass production and mass distribution. By speeding up production and increased the output of goods, and an industry could lower costs and maximize profits. As a result of mass production, factory owners often found themselves able to produce more goods than the market would absorb, therefore they needed to increase consumer

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