Development of Railroads & U.S. Expansion
This is an excerpt from the paper...
The development of the railroads was a key element in the expansion of the United States and in the economic well-being of the nation during the nineteenth century and into the twentieth century. The railroad was a transportation and communication marvel compared to anything that had existed previously. It crossed the territories of the nation and made it possible to travel from one end of the country to the other or to send mail and goods along the same routes. The development of the railroads was itself a matter of business expansion on a grand scale, starting with small lines and ending with vast networks of tracks which nurtured cities and towns all along their length. In terms of business history, the development of the railroads was not only the first big business venture in America but also made it possible to expand other businesses into not merely local entities but regional and national corporations. Distant business offices could now be linked to the central office, allowing a business to cover a much wider range than was ever possible prior to that time. The development of the railroad was supported by and in turn supported the burgeoning steel industry in the course of the nineteenth century. Andrew Carnegie worked for a time on the railroad before developing the steel company that would in time become part of J.P. Morgan's United States Steel Corporation in 1901. The development of the nation's railroads is usually treated
. . .
land. Transplanted to Pennsylvania, Andrew set to work at age 13 as a $1.20-a-week bobbin boy in a cotton mill. He had a succession of jobs over the next few years until he went to work for the railroad, where his nerve and ability was noted. His boss was Tom Scott, and the two of them worked together to improve the service of the railroad and during the Civil War to coordinate the railroad and telegraph services of the War Department. Carnegie watched for investment opportunities and in 1863 recorded an annual income of $47,860, with only $2,400 from his railroad salary (Chamberlain 156-157).
Carnegie kept moving up in the business world because he acquired skills and impressed his employers with his resourcefulness. He met T.T. Woodruff, the inventor of the sleeping car, and purchased one-third interest in the company:
The entrepreneur--Carnegie in this case--has ingenuity and drive; he can put together a complex of plants and technically skilled associates to turn out a unique and strategically based product; he himself has a particular aptitude--in this case, again, he knows how to get along with people, those who work with him and those to whom he wishes to sell. . . Carnegie began building up a fortune from lucky inve
. . .
Some common words found in the essay are:
Alfred Chandler, , Andrew Carnegie, TT Woodruff, Columbus Ohio, JP Morgan, Schwab Carnegie's, Stanley Committee, Rockefeller Rockefeller, Steel Steel, nineteenth century, andrew carnegie, carnegie steel, jp morgan, iron ore, transportation communication, steel industry, buy carnegie, development railroads, railroad transportation communication, united steel, late nineteenth century,
Approximate Word count = 2415
Approximate Pages = 10 (250 words per page)
|
Customer Service
to Over
32,000 Professionally Written Papers!!!
