Question

1. What were the elements behind the successful acceleration of industrialization after 1865. 2. What were factors that caused ex-slave states in the south lag behind the north in participation in this acceleration of industrialization? 3. Why were the creation of the Interstate Commerce Commission (ICC) and passage of the Sherman Anti-trust Act of 1890 so important to the creation of a fair business climate.

Answer 1

1. What were the elements behind the successful acceleration of industrialization after 1865.

By the year 1900, the acceleration industrialization which was initiated in the USA was completed. As this acceleration of industrialization was successful in fulfilling the requirements of consumer culture after 1865 thus it proved to be one of the most critical factors for its success along with the lassie faire and the abundance of entrepreneurs. This was further supported by the cheap and efficient national and governments. The formulation of various laws that protected the corporate and individual wealth. In fact, some contract laws were established which were predictable and were effectively enforced by friendly courts.

2. What were factors that caused ex-slave states in the south lag behind the north in participation in this acceleration of industrialization?

The weak foundations resulting from the huge shortage of capital and human skills in the southern states was one of the main factors which that caused the ex-slave states in the south lag behind the north in participation in the acceleration of industrialization. This socity was mainly a peasant society. The states were facing the issue of high illiteracy rates resulting the greater labor turnover rates in cotton textile mills and tobacco processing factories eastblished after the civil war.

3. Why were the creation of the Interstate Commerce Commission (ICC) and passage of the Sherman Anti-trust Act of 1890 so important to the creation of a fair business climate?

The creation of the Interstate Commerce Commission and the Sherman Anti-Trust Act of 1890 was important to the creation of a fair business climate because these attempted to prohibit the organization of cartels and monopolies by merger. The Congress established ICC in order to prevent state railroad commissions and state legislatures from regulating interstate freight rates to the advantage of a states farmers and village storekeepers. The Sherman Anti-trust Act of 1890 statue did not prohibit mergers but made illegal “every contract, combination in the form of trust or otherwise, or conspiracy in restraint of trade or commerce among the several states.”