Unit 5: Changes: Industrialization Lewis (MF CC MK MR)

Chronology of Industrialization Maggie, Catherine, Margot and Meghan

Events

Companies were using interchangeable parts to produce goods in large numbers

1800 - 1809

Henry Bessemer came up with a new way to make steel

1855

Drilling for oil began

1858

Vanderbilt sells and invests

1862

He sells his steamer business and invests in railroad stock

Steel Production Rose Drastically

1870 - 1900

Steel Production rose from 77,000 tons to more than 11 million tons

Standard Oil was formed

1870

John Rockefeller established a corperation called Standard Oil

Rockefeller formed a corporation called Standard Oil

1870

Andrew Carnegie invested in the steel industry

1873

Gilded Age Begins

1873

Telephone was invented

1876

The value of American exports doubled

1877 - 1900

Standard Oil became a monoply

1882

Edison invented his electrical company

1882

Sherman Antitrust Act

1890

Sherman Antitrust Act passed, outlawing monopolies, trusts and forms of business that restricted trade

Carnegie makes over 56 thousand times more than his single worker

1890

Carnegie earned 25 million dollars, while his workers made about $440

there were more than 1,300 stations generating electricity in the US.

1891

Wright Brothers made the 1st successful plane

1903

Fredrick Taylor published his book, "The Principles of Scientific Management"

1911