AQA A-level History - America 1865-1975 - economy 1865 to 1890

What was the dominant economic philosophy in the late 19th century?

Laissez-faire, meaning minimal government intervention in business and the economy.

What major industries expanded between 1865 and 1890?

Steel, oil, and railroads were the key industries that drove the full-scale industrial revolution.

How did the U.S. government support railroad expansion between 1862 and 1872?

The government granted 100 million acres of land to railroad companies for construction.

What was the growth of railroad track mileage from 1865 to 1893?

It expanded from 35,000 miles to 200,000 miles, connecting the entire continent.

When was the first transcontinental railroad completed, and what was its significance?

It was completed in 1869, significantly improving coast-to-coast trade and migration.

How did railroads impact U.S. revenue by 1890?

Railroad revenue surpassed $1,000 million, more than double the federal government's revenue.

Which two major railroad companies monopolized the industry?

Union Pacific (1869) and Northern Pacific (1883).

What was the increase in steel production from 1875 to 1900?

Production rose from 360,000 tons to 60 million tons per year, making the U.S. the largest steel producer in the world.

How did the Bessemer process impact steel production costs?

It reduced costs from $300 per ton to $35 per ton, making steel more affordable and widely available.

What was the significance of the 1890 discovery of iron ore?

It dramatically increased steel production, fueling industrial expansion.

Who dominated the steel industry by 1892?

Andrew Carnegie's Carnegie Steel Company monopolized the steel industry.

Who created Standard Oil, and why was it significant?

John D. Rockefeller founded Standard Oil, which pioneered the first trust and controlled 90% of oil production.

How did Rockefeller consolidate the oil industry?

By 1872, he had bought out 22 of his 26 competitors, and in 1882, Standard Oil controlled 85% of global oil refining.

How did the U.S. government support big business in this period?

By imposing high tariffs that protected American industries from foreign competition.

What was the purpose of the Sherman Antitrust Act of 1890?

It aimed to limit the power of monopolies but was not enforced until Theodore Roosevelt used it in 1901.

What percentage of the population lived in rural areas during the period 1865-1890?

50% of the U.S. population remained in rural areas, though farm numbers doubled.

How did rural depopulation impact New England in the 1880s?

932 out of 1,502 townships experienced population declines due to industrialization and the 1887 drought.

Which cities became key distribution hubs in the 1880s?

Chicago and Pittsburgh became major centers for meat, cereals, and canned goods distribution.

What was the dominant crop in the South, and how did it impact the region's economy?

Cotton remained dominant ("King Cotton"), sustaining Southern agriculture and trade.

What was the state of infrastructure in Louisiana in 1868?

Louisiana had no hard-surfaced roads, highlighting the South's lag in industrial development.

How did trade and shipping develop in Southern ports during this period?

Ports like Mobile, Charleston, and New Orleans began growing as centers of trade and shipping.

What was the significance of the 1889 Oklahoma Land Rush?

It led to rapid settlement expansion as settlers claimed land in former Native American territories.

What inventions revolutionized farming in this period?

Steel plows and steel barbed wire improved efficiency and agricultural productivity.

How did refrigeration impact the economy in 1867?

It allowed for long-distance transportation of perishable goods, boosting the meatpacking and food industries.