Economy During The Gilded Age

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The Gilded Age, the period of the history of the United States from the Reconstruction to the early 20th century, witnessed the development of industrialization, urbanization, the construction of great transcontinental railroads, innovations in science and technology, and the rise of big business. There were many capable leaders who were building a better future. Vanderbilt stopped at nothing to connect the nation via railroads. Rockefeller used his trademark ruthlessness to establish his oil empire. Cities were expending to the sky, this was built on the strength of Andrew Carnegie’s steel. And under JP. Morgan’s control, electricity was starting to power the country. The nation had changed very sharply. One in four bridges built at that time would fail. Carnegie invested everything he had into the bridge which nobody had built a rail bridge this big. He encountered many …show more content…

But the profit of building the railroads was hit and the railway industry began to decline. Railway was an urgent need to operating the goods but there wasn’t enough traffic to sustain them. Oil was another lucrative business during the Gilded Age. John Rockefeller saw an opportunity that seemingly everything required oil during this era: factory, machines, ships, and, later, automobiles. The application of oil made the train speeded up. It facilitated the invention and production of lubricating oil, which was used in all types of vehicles and mechanical equipment to reduce friction, protecting machinery and mechanical parts. Lubricating oil had several functions in the lubrication system and mainly played an important role in lubrication, auxiliary cooling, antirust, clean, sealed and buffer, and so on. It could prevent noise in order to improve people’s motivation and let them wouldn’t feel tired. Oil as raw material, made a great contribution to human

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