Economic Change

• What had the US become by 1913, meaning that it exported more goods than it imported? Surges in manufactured exports

  Net exporter: 90% increase, 1895-1900; 77% increase, 1908-1913
• The USA had a surge in tech. developments which fueled...?

  electrical engineering, oil, chemicals, modern communication systems; economic goods
• Name four reasons why the USA experienced a "second industrial revolution" in this period:

  Technology and innovation, natural resources, immigrant labour supply, limited regulation of business, efficiency
• Which goldrush in the 1890s almost doubled the size of the US gold reserves?

  Alaska-Yukon Gold Rush
• Which 1893 strike was organised by the American Railway Union led by Eugene Debs?

  Great Northern Strike
• At which railroad works in Illinois was a strike organised in 1894?

  Pullman Works
• Name two economic crashes that took place between 1890 and 1920:

  Panic of 1893, Panic 1907
• Investment by which banker helped to prop up the economy following the Panic of 1907?

  J. Pierpont Morgan
• By 1910 Iron and Steel production were more than Britain and Germany combined
• Steel output surpassed Germany, Britain, France and Russia combined allowing the USA to either sell to allies during WWI or build more railroads.