Industrialisation & Urbanisation (jan 1, 1860 – jan 1, 1929)
Description:
Between 1860-1914, American manufacturing production was multiplied by 12. Explained because they had their own in-built empire with raw material (coal, iron, oil, wood).Population increase is a huge factor too:
32 M in 1860 -> 76M in 1900
Very high domestic birth rate.
Immigration:
1870-1900: 12M immigrants moved to the US = very positive for US economy because the best form of labor (work hard, did not care for trade unions, etc). Immigrants were also good consumers, they could progressively save money and spend it on national products.
Added to timeline:
Date:
jan 1, 1860
jan 1, 1929
~ 69 years