Chapter 24

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a. Railroads in the late nineteenth century helped America become the richest industrial nation on earth. The railroads increased commerce and integrated the American market as well as helped national brands to emerge such as Ivory soap and A&P grocery stores. They also introduced time zones to make shipping and passenger travel more standard. The railroad was the first modern publicly traded corporations, the companies were large and expanding across the country. Railroad companies had a large amount of employees. Capital was needed to build railroad tracks so stocks were sold to the public such as wealthy tycoons such as Vanderbilt and Carnegie. The Railroad system was also a symbol of the partnership between national government and industry. The railroad would have never been created without legislature, land grants passed out by congress. An example would be the Central Pacific Railroad it was backed by wealthy tycoons including Leland Stanford, the ex-governor of California who had useful political connections, and Collis P. Huntington, an adept lobbyist. Railroads gave land th...

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