Significance Of Key Events From 1860 To 1920s

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Key events from 1860 to 1920 played an important fundamental role in the development and modernization of our country. The United States underwent many reforms during this time, such as economic, social and political changes. The building of the railroad led to more convenient travel and distribution across the country. In 10 years of completion the railroad approximately shipped at least 50 million dollars worth of freight. The railroad also contributed greatly to economic wealth in, such improvements as faster public transportation, the spreading of new ideas and the discovery of new territories. The creation of the Transcontinental Railroad also led to the expansion of foreign as well as domestic markets. The railroad was not good for everyone, …show more content…

Both inventions led to increased productivity and stimulated American economic development, Henry Ford patented the design and soon began to produce more cars than his competitors.Ford knew that in order to keep his employees satisfied he would have to raise their pay, so he did. From a measly two dollars to five he immediately noticed an increase work ethic , including the price reduction his workers could finally afford the new Model T and now had enough time to use it. This led to an increase in employees and wages, the automobile showed a renewed cultural outlook in America that would soon be spread to all neighboring countries. The invention of the airplane changed the United States forever, it changed the way that Americans would travel making it easy and affordable not to mention that it would help significantly improve the American economy through shipping and distribution. Although many of the first aircraft produced were not very safe, many significant improvements were made in the coming years reaffirming the belief in the effectiveness of the …show more content…

Rockefeller ultimately controlled most of the production in the United Stated during their prime. Carnegie took over the steel industry while Rockefeller had controlled the majority of the oil industry, by the end of the 19th century America ultimately dominated both aspects. Both businessmen were also very well known for their contributions to philanthropy and ushering in a new age of American economic history. Moreover, the firm J.P. Morgan was considered to be a household name within the banking industry, the firm allowed for Americans to be financially secure and invest their hard earned money in stocks and bonds. Americans increased investing meant more revenue and taxes for the United States, financial security was crucial during this time due to the unforeseen collapse of the stock exchange, after the crash many Americans lost all their money and banks were forced to shut down meaning that they had to start back at square one. Women's Suffrage was also considered to be one of the most important social and economical movements at it's inception.The movement brought about the right to vote for women not to mention the creation of new business opportunities and advancement in a field mostly dominated by men at the time. With women's right to vote, the economy underwent a drastic improvement with regards to the creation of new jobs which led to an increase in production thus stimulating the American economy

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