Response to Industrialism

The Response to
Industrialism
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By Samuel P. Hays

A report on the novel,
By Chelsey Hackney
As technology began improving, this opened new doors to the industrialists. This, in turn, eventually leads to economic developments. A fine example of an industrial innovation was the railroad. And though it had more than 250,000 miles of track laid in the United States, it only became greatly proficient in the 1830’s. Before then, the steamboat was the popular choice of transportation for goods and travel. This is why you’ll see a lot of the larger cities nowadays based near a river. It was the easiest form of transport.But in the 1860’s, the first Transcontinental Railroad was completed, finally linking the east coast to the west coast. This was made possible because the railroad reduced transportation time and cost, therefore allowing the migration. Railroads increased the accessibility of goods to consumers, which allowed capital and individuals to flow westward as well. Railroads led to the creation of national markets characterized by the “law of one price”. This lowered the difference in price charged for commodity between suppliers and demanders. Social savings were increased by the railroad making the railroad the largest contributor to the economy of any innovation before 1900. Though many lost confidence in the railroads due to the depressions of 1873, 1884, and 1893, the railroad still proved worthy during the time of industrialism.
Railroads definitely affected the factories of the big-booming cities as well. Once there were quicker ways to transport goods to and from factories, they could focus more on innovating mass production. Once manufacturers noticed the profit coming in from factories, they developed investment bankers, stockbrokers, and bonds. Corporations formed and these corporations depended on stockholders and the expanse of their resources.
This is when corruption came about among the different industries....