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An Economic Boom

            
            
             Americans were through with the destruction of the Civil War and the Reconstruction after the war, but what was next? Instead of fighting, they had many other options as to where to put their energies. A period of industrialization and rapid economic growth ensued, and America became the "colossus" among world manufacturers. There were many reasons for and many impacts of this period of economic growth and industrialization. .
             There were many reasons for the industrialization and the rapid economic growth of America. One reason was the discovery of new natural resources such as oil, silver, and others. These resources were readily exploited. Another reason was protective tariffs. These tariffs taxed imported goods and encouraged Americans to purchase American products. Foreign capital helped American businesses get up and going. European immigrants provided cheap labor. Science and technology helped industrialization because it gave us the cutting edge to make things work better and faster. An example of science and technology put to use is the Bessemer process. The Bessemer process perfected the transformation of iron into steel. This in turn helped businesses like the railroads because they were able to make rail faster and more inexpensively.
             Along with the economic growth of America came the creation of "Robber Barons". These men were the wealthy heads of business whose often corrupt practices helped them gain even more wealth. Some of these robber barons included Rockefeller of Standard Oil and J.P. Morgan and his House of Morgan. Railroads were affected by the business styles of the robber barons with the use of rebates and drawbacks. Many other businesses were affected as well. These robber barons and their business styles led the way for monopolies. Monopolies threatened the railroads, steel, utilities and many other businesses. For example, when finished product makers threatened to start making raw steel, Carnegie Steel threatened monopoly by threatening to start making finished products.


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