Impact of the Civil War
What type of money was introduced during the Civil War?
Greenbacks
What was the US population by 1900?
76 million
What form of transport spurred demand for steel and coal?
Railways
What was the government's approach to business regulation?
Laissez-faire (non-interference)
Who made electricity commercially viable?
Thomas Edison
What financial center rose in importance due to war financing?
Wall Street
What factor helped lower death rates in this era?
Better food, housing, and public health
What did fertile land expansion lead to?
Increased food production
How did business leaders prevent worker rights reforms?
Used money and influence
What steel innovator fought union organizing?
Andrew Carnegie
How did the war affect manufacturing?
Increased demand led to mass production
How many immigrants came to the US between 1860–1900?
14 million
What industry benefited from mass food production?
Agricultural machinery and food exports
What was the economic result of the Panic of 1873?
Bankruptcies and unemployment
Who created a Trust to control oil?
John D. Rockefeller
How did the Civil War impact the banking system?
Banks expanded to meet loan demands and finance industry
Why was immigration vital to industrial expansion?
Provided labor and increased consumer base
What type of roads helped connect rail centers to nearby towns?
Local roads
What triggered the Panic of 1893?
Unexpected bankruptcies in banks and industries
What type of company enabled multi-state expansion?
Trusts
Why were tariffs introduced during the war?
To raise revenue and protect US goods from foreign imports
Name a law passed to limit immigration.
Chinese Exclusion Act (1882)
Why was the railroad so economically important?
Provided jobs and boosted related industries
What happened in 1907 that required Roosevelt’s intervention?
Collapse of a large Trust caused banking crisis
What company made James Duke a millionaire?
American Tobacco Company