Chapter 9

Question 1

What was the main basis of industrialisation in the USA?

Answer 1

Abundant natural resources

This included coal, iron, lead, copper, petroleum, and timber.

Question 2

What factors contributed to the creation of a continental domestic market in the USA?

Answer 2

Territorial expansion, population growth, and improved transportation and communications systems.

Question 3

How did government support manifest for businesses in the USA?

Answer 3

Through tariffs, railroads, banking, and judicial support for corporations.

Question 4

What role did immigration play in the American economy during industrialisation?

Answer 4

Provided a cheap supply of labor and technical ability.

Question 5

Between which years did the United States emerge as the world’s leading economy?

Answer 5

1890 and the First World War.

Question 6

What was the driving force behind the economic growth of the USA during this period?

Answer 6

Industrialisation.

Question 7

What characterized the economic expansion in American agriculture in the early twentieth century?

Answer 7

New techniques and favorable market conditions.

Question 8

What were the major financial crises in the USA during the economic expansion?

Answer 8

Panic of 1893 and Panic of 1907.

Question 9

What was the outcome of the Panic of 1893?

Answer 9

Led to years of a ‘Great Depression’ affecting the wider economy.

Question 10

What prompted demands for more effective regulation of big business?

Answer 10

Resentment and opposition from farmers, industrial workers, and Progressives.

Question 11

What was the net export status of the USA by 1913?

Answer 11

The United States was a net exporter.

Question 12

What were the two intense surges in American manufactured exports?

Answer 12

90% increase between 1895 and 1900, and 77% increase between 1908 and 1913.

Question 13

What was the impact of American productivity compared to Britain’s?

Answer 13

American productivity was better than Britain’s.

Question 14

Define ‘net importer’.

Answer 14

A country where the total volume and value of its imports is greater than that of its exports.

Question 15

What characterized the Second Industrial Revolution?

Answer 15

Advanced technical developments in electric power, engineering, oil, chemicals, pharmaceuticals, and modern communications.

Question 16

What was the significance of the ‘American Commercial Invasion’?

Answer 16

European competitors were alarmed by the spectacular growth of the American economy.

Question 17

How did US industries achieve higher productivity?

Answer 17

Through innovation and efficient management methods.

Question 18

Fill in the blank: The United States had huge deposits of _______.

Answer 18

[coal, iron, lead, copper, petroleum, timber]

Question 19

True or False: The USA was a net importer by 1913.

Answer 19

False.

Question 21

What were the three main factors contributing to the economic growth in the United States between 1890 and 1913?

Answer 21

• Labour supply from immigrant influx
• Rising world demand
• Resource abundance

Question 22

What key discovery in Minnesota contributed to the US export success around the turn of the century?

Answer 22

High-grade iron ore in the Mesabe range of hills

Question 23

By what percentage did US steel production increase by 1913?

Answer 23

400%

Question 24

What was significant about US oil production by 1910?

Answer 24

It equaled that of the rest of the world combined

Question 25

What was the Spindletop oil gusher, and where was it located?

Answer 25

One of the biggest oil gushers discovered, located in Beaumont, Texas

Question 26

What role did political conditions play in the expansion of big business during this period?

Answer 26

Limited regulation of business and sympathetic government at state and federal levels

Question 27

What was the time period of Republican political dominance that favored business interests?

Answer 27

1896 to 1912

Question 28

List three agricultural products that the United States was a world leader in producing.

Answer 28

* Wheat * Corn * Other grains

Question 29

What percentage of total US exports did cotton represent in 1890?

Answer 29

29.7%

Question 30

What economic challenges did American agriculture face in the 1890s?

Answer 30

* Falling prices for agricultural products * Shortage of credit

Question 31

What two factors contributed to the vulnerability of small farmers in the South?

Answer 31

* Dependence on railroad companies and banks * Market forces beyond their control

Question 32

What caused the swell of protest from Western and Southern farmers leading to the rise of Populism?

Answer 32

Debt from easy credit and the impact of the 1893 Panic

Question 33

What climatic conditions initially favored the success of farm settlements in the Trans-Mississippi West?

Answer 33

Unusually high annual rainfall

Question 34

Fill in the blank: By 1910, US oil production equaled that of the _______.

Answer 34

rest of the world combined

Question 35

True or False: The agricultural economy in the South was stable and not affected by external market forces.

Answer 35

False

Question 36

What was the impact of the Panic of 1893 on farmers?

Answer 36

Led to three years of economic depression that hit farmers hard

Question 37

What were two significant factors that caused the apparent success of early farm settlements to be illusory?

Answer 37

* Banking and credit issues * Unfavorable climate conditions

Question 38

What types of farming remained significant in the Southern economy?

Answer 38

* Tobacco * Sugar * Cotton

Question 39

What percentage of total exports did petroleum represent in 1913?

Answer 39

6.1%

Question 41

What was a significant social development in America that changed urban landscapes?

Answer 41

Urbanisation ## Footnote Refer to Chapter 10 for social context.

Question 42

What climatic conditions returned after 1887 that affected farmers?

Answer 42

Drought and wind erosion

Question 43

What act helped irrigation schemes in arid areas of America?

Answer 43

Reclamation Act of 1902

Question 44

What was a key federal act passed in 1906 to regulate food quality?

Answer 44

Meat Inspection Act of 1906

Question 45

What was the relationship between agricultural prices and incomes from about 1905?

Answer 45

Parity in the relationship

Question 46

What agricultural products saw a boom in output during the golden age?

Answer 46

Wheat and corn

Question 47

What significant event in 1914 affected world markets and American agriculture?

Answer 47

Outbreak of a general European war

Question 48

What was the population growth of New York City between 1870 and 1910?

Answer 48

Doubled twice

Question 49

Fill in the blank: By 1900, there were ______ American cities with a population of 100,000 or more.

Answer 49

38

Question 50

What were the main plantation products dominating the Southern economy?

Answer 50

* Tobacco * Sugar * King Cotton

Question 51

What was the trend of urbanisation in the American South compared to the Northeast?

Answer 51

Slower and on a smaller scale

Question 52

What economic factors dominated the Western economy during this period?

Answer 52

Extractive industries and dependence on Eastern financial interests

Question 53

What event in the late 1890s stimulated rapid development in the Pacific coast ports?

Answer 53

Alaska-Yukon Gold Rush

Question 54

What was the significance of the Alaska-Yukon Gold Rush in terms of US gold reserves?

Answer 54

Almost doubled the size of US gold reserves

Question 55

What was the importance of the gold rush to the economy of the West?

Answer 55

Sparked wider economic development

Question 56

What city briefly became one of the biggest in the West due to the Klondike Gold Rush?

Answer 56

Dawson City

Question 57

Fill in the blank: The Pacific war against Spain boosted trade with ______.

Answer 57

China

Question 58

What act was brought in by President McKinley in 1900 related to gold?

Answer 58

Gold Standard Act

Question 60

What was the economic condition of the United States during the 1890s?

Answer 60

The economic condition included extensive pockets of poverty, periods of depression, and industrial unrest.

Question 61

What were the major financial crises in the United States during the late 19th century?

Answer 61

The Panics of 1893 and 1907.

Question 62

What was a significant response by industrial workers to low wages and harsh conditions in the 1890s?

Answer 62

Organizing trade unions and resorting to strike action.

Question 63

What event in 1892 resulted in the deaths of 13 steelworkers?

Answer 63

The Homestead strike against Carnegie Steel Company.

Question 64

What triggered the Panic of 1893?

Answer 64

The slowing down of the railroad boom and the bankruptcy of the Philadelphia and Reading Railroad.

Question 65

What was the general economic slump of 1893 to 1897 commonly referred to as?

Answer 65

The 'Great Depression' until the title was transferred to the 1930s slump.

Question 66

What were the structural weaknesses of the Gilded Age economy that contributed to mass poverty in the 1890s?

Answer 66

Unregulated capital markets and entrepreneurial frenzy.

Question 67

What was the cause of the Panic of 1907?

Answer 67

The collapse of the Knickerbocker Trust Company.

Question 68

Who intervened during the Panic of 1907 to restore business confidence?

Answer 68

J.P. Morgan.

Question 69

What significant financial reform was established in response to the Panic of 1907?

Answer 69

The Federal Reserve central bank.

Question 70

What economic effect did the outbreak of the First World War have on the American economy?

Answer 70

It stimulated rapid growth in American industry and agriculture.

Question 71

What role did American farmers play during the First World War?

Answer 71

They expanded production for export to war-torn Europe.

Question 72

How did unemployment trends change in the United States during the war?

Answer 72

Unemployment fell steadily.

Question 73

What was the relationship between J.P. Morgan & Company and the Allied war effort?

Answer 73

They became the sole underwriter of Allied war bonds.

Question 74

Fill in the blank: The American economy became a _______ on the eve of the First World War.

Answer 74

world leader in size, potential, and productivity.

Question 75

True or False: The American economy was in recession when the First World War began.

Answer 75

True.

Question 76

What was a notable production achievement of Baldwin Locomotive Company during the war?

Answer 76

Produced 5500 military locomotives and 6 million artillery shells.

Question 77

What was the general perception of the First World War at the time of its outbreak?

Answer 77

It was expected to be intense but short.

Question 78

What was one of the consequences of the economic transformation in the U.S. from 1890 to 1920?

Answer 78

Acceleration of modernization and economic development.