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R-Economy 1865-77 x (Reasons for (Availability of capital (Highly deeloped…

- - - - Clothes
      - transport
      - guns
    - - Gov had to raise money to pay for war
      - sophisticated capital raising system based on wall street
      - Introduced paper currency
      - Banking system had to eveolve to cope with groeing amount of money in circulation
    - - Reduced competition from already industrialised countries
      - Income for gov
  - - - Encourgaes market for goods and railroads
      - land was fertile so plenty of food
    - - lead to increased demand for manifactured goods
      - encourages mechanisation
  - - - better housing
      - More food
      - better medical knowledge=lower death rates
    - - 2.8million moed to US durin 1870's
      - Provided cheap labour and acted as consumers
  - - - Distribting goods
      - Cattle
      - 1869 First Transcontinetal Railroad 6 days instead of 6 months
      - Track milage trippled between 1860-1880
    - - Employed workers 1 mil by 1900
      - Encouraged demand in steel and coal etc
      - Encourgaed competition, puching down prices and led to technological imporementes
      - Rail cneters needed roads
  - - - IE congress introduced protective tarriffs
      - did not have to deal with trade unions
      - Industrial disputes employers were supported by state and fedral authoritys
  - - - own a number of businesses and hire the managment it wanted to run the co-orperation
      - could by sell and own property or business
    - - Insome states laws stopped people owning shares in more than one state
      - Flagler from Standard Oil appointed himself Trustee of stocks and stuff the company was not allowed to own
- - - - Anyone could set up a bank independently
      - local banks usually kep depositis in larger banks esp the New York Banks
      - New York banks invested unwisley ie Jay Cooke and Company who went bust
      - The failure of Norther Pacific Rialroads lead to the collapes of hundereds of companies and banks
    - - 1000 layed off
      - 1/4 labourers in new York were out of work 1873-74 winter
      - nationally millions unemployed
      - Maj rilroads declined from 7,500 miles in 1872 to 1,600 1874
  - - - railroad center
      - hub for lumber meat and grain
      - By 1870 it also had meat packing and steel production
    - - Troy NY made shir collars
      - Toledo Ohio made glass
      - Houston Texas= railroad cars
  - - - Boss-local mayor
      - sell rights to the highest bidder to provide housing , transport and utilitys -employees and police included owing their jobs to the Boss
      - The Boss would provide jobs for the immigrants and African Americans who inturn would vote for him