The Industrial Growth Of The Late Nineteenth Century
The Industrial Growth of the Late Nineteenth Century The late nineteenth century witnessed a dramatic industrial growth. One such industry, which gained importance, was the railroad industry. The late nineteenth century saw railroads being built across the United States. Another industry, which grew vastly during this time period, was the competitive steel industry. The steel industry was unstable at best, however Andrew Carnegie carried the industry and had a big hand in controlling it. The petroleum industry also flourished and showed major competition and eventually turned into a monopolistic market. John D. Rockefeller, a refining mogul in the industry, led this market. These major industries flourished in the nineteenth century due in part by the growing population and the expansion into the western states. Railroads are an essential means of transportation for business. As big business grew, they needed ways to get product around the country. In the late 1800s there was only about 74,000 miles of track laid out across the country. If big business was to expand there had to be a dramatic change in the amount of track
The expansion of railroads also helped out less populated areas. The reason for this is that there was room to put down tracks, which in turn enabled business to go through these areas with items such as coal, wheat, and steel. The areas that were less populated were also cheaper to put railroads because they did not have any other competition for space in that region. The steel industry in the 19th century also progressed and became a bigger industry. Leading the way was Andrew Carnegie. Carnegie was a great a salesman and really knew how to take control of the steel industry. He had a good sense of the industry along with the right kind of ruthlessness, which he needed to survive the highly competitive industry. He understood that if he could expand his company when times were bad, it would help him out immensely when times got better. The oil business took off in the early 1900s and was run by the Standard Oil Company. Owning this profitable company was John D. Rockefeller. He became among the elite in the refining business. He made advances in the industry which made his business stand above the rest of the indust
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Approximate Word count = 769
Approximate Pages = 3 (250 words per page double spaced)
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