Flashcards in US History 2: Chapter 18 Deck (11):
The biggest banker during the time and had more money than the US government
What 19th century areas saw a revolution?
Transportation (railroads and steamboats) and communication (telegraph)
How did railroads transform American life?
They ended rural isolation, allowed regional economic specialization, made mass production and consumption possible, lead to organization of modern corporation, and stimulated other industries
John D. Rockefeller
Organized Standard Oil Company of Ohio
A type of organization in which a single company owns and controls the entire process from obtaining raw materials to manufacturers and sale of the finished product
What were the benefits of rapid growth?
There was a rise in national wealth and power and improved standard of living
Who is "The Commodore"?
The owner of the New York Central Railroad
Which group received the most government subsidies during Westward expansion?
Why is the "Wizard of Menlo Park" important?
Led innovation through inventions that changed how people lived