WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
IMMIGRATION IN INDUSTRIAL AMERICA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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caused the Panic of 1893.
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secured passage of the Sixteenth Amendment.
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were able to accumulate vast amounts of wealth.
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secured the election of William McKinley as president in 1897.
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Detailed explanation-1: -By creating monopolies and establishing trusts, industrial leaders of the late 1800s were able to accumulate vast amounts of wealth.
Detailed explanation-2: -Big business grew in the late nineteenth century when new sources of power such as the steam engine, coal, and electricity drove the machines in larger factories that organized production under one roof. Companies could now mass produce standardized goods faster and more efficiently.
Detailed explanation-3: -How did monopolies and trust enable businessmen like Carnegie and Rockefeller to become among the richest and most powerful men in the world? They eliminated competition and allowed certain businessmen to control entire industries.
Detailed explanation-4: -Robber barons took over industries such as railroads, banks, steel, cotton, oil, tobacco and liquor. To monopolize these industries, they would use tactics such as creating trusts, exploiting workers, and disregarding customers or competition.