Second Industrial Revolution
Country enjoyed abundant natural resources, growing supply of labor, expanding market for manufactured goods and the availability of capital investment. Government enacted high tariffs that protected American industry from foreign competition. Government used the army to remove Indians from western lands desired by farmers and mining companies. By 1913, the U.S. produced 1/3 of the world's industrial output- more then the total of Great Britain, France and Germany combined. Census Bureau found a majority of the workforce was engaged in non-farming jobs. people were drawn to factories by the promise of employment. Most manufacturing took place in cities. The number of miles of railroad in the U.S. tripled b/t 1860 and 1880 and tripled again by 1920. In 1883, the major companies divided the nation into the four times zones still in use today. Businesses engaged in ruthless competition. They formed pools and established trusts. Andrew Carnegie- steel company. He distributed much of his wealth to various philanthropies and ran his factories non-stop. John D. Rockefeller established a monopoly which controlled the distribution, drilling, refining, and storage of oil. His standard oil company controlled 90% of the nations oil industry. People either considered them captains of industry, whose energy and vision pushed the economy forward, or robber barons, who wielded power w/o any accountability in an unregulated market place. The country's economic growth distributed its benefits very unevenly. During the depression of the 1870's and 1890's, millions of workers lost their jobs or were forced to accept pay reductions.