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REASONS FOR INDUSTRIAL GROWTH IN THE UNITED STATES

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REASONS FOR INDUSTRIAL GROWTH IN THE UNITED STATES Powered By Docstoc
					 REASONS FOR INDUSTRIAL GROWTH IN THE UNITED
                  STATES:
Businessreceived encouragement and help from the Federal
government.
Availability   of abundant natural resources such as:
    –Oil.
    –Iron and coal to make steel.
    –Timber
    –Gold, silver, and other metals.
Improved    technology and inventions such as:
    –Telephone.
    –Typewriter.
    –Air brake for railroads by Westinghouse.
    –Elevator brake by Otis.
    –Electric light, phonograph, movie projector by Edison

Sufficient supply of labor caused by:
    –Immigration.
    –Workers moving from farms to cities.
    –Increased use of women and children.

Sufficient supply of capital (surplus money that can be invested).
    –Natural resources.
    –Gold.
    –Agricultural surplus.
    –Surplus manufactured goods.

Leadership     and organizational skills as exemplified by men such as:
    –Oil controlled by John D. Rockefeller.
    –Steel dominated by Andrew Carnegie.
    –Money and banking led by J.P. Morgan.

Desire   for economic betterment as shown by:
    –Russell Conwell’s speech called “Acres of Diamonds” which put forth the
    idea that it was morally right to be wealthy. This lecture was delivered
    more than 6,000 times.
    –HoratioAlger’s very popular stories for children which made heroes out of
    businessmen and emphasized the idea that anyone could rise to the top.

				
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