The Age of Big Business
Between 1860 and 1900, the industries of our
state grew so rapidly that this era became known
as the “Age of Big Business.” The business people
who became very successful and wealthy were
known as
industrialists
.
During this time, Pennsylvania truly became an
industrial giant. Many of our older industries, such as
coal mining and the railroads, continued to expand.
However, several new products, mainly steel,
coke
,
aluminum, oil, and oil refining developed into large
industries. Recall how the economic idea of supply
and demand works.
As you know, the iron industry had played an
important part in the early development of Pennsylvania.
But iron had onemajor problem. It was not strong
enough for some uses and broke too easily under
strain. By the 1860s, people knew how to turn iron into
amuch stronger metal known as
steel
. However, the
process was too expensive and took toomuch time to
produce steel in great amounts. Therefore, its cost to
the consumer was very expensive.
In 1855, England’s
Henry Bessemer
invented a new
process of blasting air throughmolten iron removing the
unwanted impurities. With this process, it now became
possible to
mass produce
steel. In the United States,
the first steel production occurred at
Steelton
near
Harrisburg. This steel was shipped to Johnstown’s
Cambria IronWorks
, where steel rails were produced.
However, the growth of the steel industry is best told
through the story of
AndrewCarnegie
.
In the Bessemer process pictured
here, hot air can be seen shooting
out of the top of the furnace.
The Age of Big Business
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