Second Industrial Revolution: Mid 1850s-Henry Bessemer produced the Bessemer Process which allowed cheap steel to be made. Therefore, cheaper railroads could be constructed and this allowed goods to be transported all over the country.
Don't forget to count all of the money we made
In the 1850s, oil was made into kerosene. There was also a need for electricity . In 1879, Edison invented the electric lightbulb. In 1889, George Westinghouse invented a power system that sent electricity over many miles.
NO MONOPOLY ALOWED!!!
In 1861, Alexander Graham Bell patented the telephone. In 1900, there were 1.5 million telephones. In 1903, the Wright Brothers made the first pilot driven airplane that ran on gas. In 1908, Ford introduced the Model T automobile and was the first to have the assembly line making cars affordable.
These are unfair working conditions
Great Business Leaders: Andrew Carnegie bought out competitors when the steel price was low. He succeeded with vertical integration, which combined all steps of the manufacturing process. John Rockefeller's company was the country's largest oil refiner. He formed a trust, a legal arrangement that grouped many companies under a single board of directors.
1890, Congress passed the Sherman Antitrust Act, that made it illegal to create monopolies or trusts that restrained trade. It was difficult to enforce these laws.
Workers wanted better work conditions. In 1870, the Knights of Labor, the first national labor union was founded. In 1886, the Haymarket Riot took place in Chicago secondary to a strike that had killed 2 people. In 1892, the Homestead strike took place at Carnegie's steel factory in PA. In 1894, the Pullman strike took place which stopped traffic railroad traffic until the government stepped in.