Explain How Successful Were Business People In The Last Third Of The 19th Century

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History Part 1 Student’s Name Institution Affiliation HISTORY How successful were business people in overcoming the problems that confronted them in the last third of the nineteenth century. The Federal land policy act that was introduced in 1862 attracted both settlers and speculators. Land was cultivated at no cost for 5 years and agricultural production rapidly increased, providing more income and profit to the farmers. Farmers became more independent, hence increasing their scale to larger business, however, overproduction of resources eventually led to price depreciation, rising debt and high interest rates from the railway transportation. In order to confront the arising problem, farmers joined and formed a Grange in 1867 in order to …show more content…

When they left, nothing was left for the owners of the town to invest or earn from, and in order for them to survive the limited food supply and the coming winter, they decided to invest in large-scale ranching and cattle industry to earn their survival (Steven, 2002). In the 19th century states reduced the requirement for business to incorporate from business partnership and this made it possible for entrepreneurs to invest in large scale since the corporations were issuing stocks and certificates. Through the issuing of stocks, most business individuals pooled resources and invested in new ventures (Chandler, 1985). Industrialization in the 19th century resulted in the class of multi-millionaires which subjected the economy to disruption. This lead to the booming of the American business and wake of the depression in 1893 which eventually assisted in reducing competition and bringing down of the economies of scale, hence more profit from steel makers company (Shaw,

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