Gilded Age 1877-1890 Flashcards
(209 cards)
what was the value of US manufactured goods by 1890
equalled the total of the value of Germany, Britain and France’s
what was the annual growth rate of the American economy by the 1880s
3.8%
how much had the GDP grown by the 1880s
it doubled
how much was Cornelius Vanderbilt worth by 1862
$11 million
what did the Vanderbilt fortune swell to in the period
$100 million
how did Vanderbilt make his money
through steamboat operations initially, but then he ploughed his profits into the railroad boom
when did vanderbilt die
1877
how rich was Vanderbilt when he died
he was the richest man in America
when did William Vanderbilt die
1885
How rich was William Vanderbilt when he died
he was the richest man in the world
how did Carnegie make his fortune
the development of the Bessemer converter
how much did Carnegie sell his empire to J.P Morgan for and when
$480 million in 1900
how did John D. Rockefeller make his money
in the oil industry - he bought out his competitors in Cleveland but kept it secret
when did Rockefeller set up Standard Oil
1870 in Ohio
how much of American oil production did Rockefeller control in the 1880s
85%
what was Rockefeller’s fortune by 1889
$200 million
who was the world’s first billionaire and when
Rockefeller in 1913
who was JP Morgan
a financier and was the major force behind the creation of many large companies like US Steel Corporation
what was the world’s first billion dollar corporation
US Steel Corporation
when was JP Morgan and Co set up
1871
who invented the light bulb
Thomas Edison
when was the Edison Electric Company set up
1878
who invented the telephone
Alexander Graham Bell
when was the telephone patented
1876