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when was the first transcontinental railway built
1869
new york to san francisco took 6 days instead of 6 months
between 1868 and 1873 how many km of track was laid
53,000 km
between 1865 and 1890 how many miles of track was added to the railroads
170,000 miles
when was the crash in the stock market and what did it cause
1873
caused a depression
by what year had new yorks stock exchange become the second largest in the world
1890
whos fortune swelled to $100 million during boom years and what does he die as
Vanderbilt
dies as the richest man in america
what percentage of the worlds oil refining process did Rockefellers standard oil company control
85%
how much did rockefelleer give away and to what
$550 million to medicine and african american education institutions
how much steel was produced by 1875
360,000 tonnes
how mcuh steel was produced by 1900
anual production was 60 million tonnes
what did carnegie introduce to steel making and what did he use
bessemer process
used vertical integration
what did carnegie donate to and what did he set up
schools, hospitals
set up the ‘carnegie endowment for international peace’
what was a huge contributing factor to economic growth
immigration
56% of labour force in manufacturing and mechanical industries were immigrants
in 1860 what was the nation’s wealth and what did it increase to by 1900
$16 billion to $88 billion
who was JP morgan
american financier
dominated corporate finance on wall sreet
nearly all us companies had some financing from morgan in the gilded age
he helped bail out the government in the 1893 depression
