Slide 2:
Industrialization linked all parts of the country moving resources and raw materials from one area of the country to another for manufacturing and then another area for distribution. The United States is a prime location for a strong economy. Because of the varied geography and climate of the expansive nation, there is an abundance of resources suited for many industries.
Slide 3:
Although industrialization began in the early 1800s in the United States, most industry in America was small until the Civil War. The railroad enabled raw materials to be shipped must faster leading to an increase in the abilities of factories to produce goods. Banks were at the center of this growth. Most of the nation’s banks were located in these industrializing cities and were more than happy to invest in their growth.
Slide 4:
The ingenuity of the American people began to shine as investors introduced machines that could mechanize almost any process. The major increase in European immigration provided a labor market to work the factories and produce goods to meet the increased demand.
Slide 5:
Assembly line methods, interchangeable parts, and mass production required little training, so any one could be hired who wanted to work. The railroads and better transportation along the American waterways meant that prices for these goods could remain affordable. Industrialization in the United States lead to economic growth. More people were employed, increasing the number of people who could buy manufactured goods.
Slide 6:
Affordable goods meant an increase in exports to other countries who wanted cheaper American goods. The United States became a player in the world economy as a result. Protective tariffs such as the McKinley Tariff of 1890, limited the role the US could play in the world economy; however, by placing taxes on imported goods. These tariffs did have benefits- American businesses grew as more goods were bought at home. The government’s goal in using protective tariffs was to make domestic goods, or those made in the US, more desirable than foreign goods. American consumers motivated by lower prices would buy goods made in the US rather than imported goods. However, fewer American goods were demanded by other countries.
Slide 7:
Let’s Review…..
How did the growth of the railroads change the economy in the United States?
Explain the benefits of industrialization for the United States.
How did protective tariffs affect the American economy?
How did the factory system and the system of interchangeable parts alter the American economy?
How did immigration change the economy of the United States?