Contemporary American History, 1877-1913Beard, Charles A. (Charles Austin)
History
Contemporary American History, 1877-1913
Beard, Charles A. (Charles Austin)
United States -- History -- 1865-1921
With this swift economic development, northern capital streamed into the
South; northern money was invested in southern public and industrial
securities in enormous amounts; and energetic northern business men were
to be found in southern market places vying with their no less
enterprising southern brethren. The men concerned in creating this new
nexus of interest between the two regions naturally deprecated the
perpetual agitation of sectional issues by the politicians, and
particularly northern interference in the negro question. Business
interest began to pour cold water on the hottest embers which the Civil
War had left behind.
FOOTNOTES:
[7] The following brief chronology of inventions illustrates the
rapidity in the technical changes in the new industrial development:
1875--Bell's telephone in operation between Boston and
Salem.
1879--Brush arc street lighting system installed in San
Francisco.
1882--Edison's plant for incandescent lighting opened in New
York City.
1882--Edison's electric street car operated at Menlo Park,
New Jersey.
1885--Electric street railways in operation at Richmond,
Virginia, and Baltimore.
[8] For the keenest analysis of this social transformation,
see Veblen, _Theory of the Leisure Class_ and _Theory of
Business Enterprise_.
[9] See below, Chaps. VI and VII.
[10] See below, p. 234.
[11] Youngman, _The Economic Causes of Great Fortunes_, p.
75.
[12] By an act passed in August, 1912, Congress provided a
territorial legislature for Alaska, which had been governed
up to that time by a governor appointed by the President and
Senate, under acts of Congress.
CHAPTER III
THE REVOLUTION IN POLITICS AND LAW
The economic revolution that followed the War, the swift and potent
upswing of capitalism, and the shifting of political power from the
South to the North made their impress upon every branch of the Federal
Government. Senators of the old school, Clay, Webster, Calhoun, Roger
Baldwin, John P. Hale, James Mason, and Jefferson Davis were succeeded
by the apostles of the new order: Roscoe Conkling and Thomas Platt,
James Donald Cameron, Leland Stanford, George Hearst, Arthur P. Gorman,
William D. Washburn, John R. McPherson, Henry B. Payne, Matthew S. Quay,
Philetus Sawyer, John H. Mitchell, and James G. Blaine. The new Senate
was composed of men of affairs--practical men, who organized gigantic
enterprises, secured possession of natural resources and franchises,
collected and applied capital on a large scale to new business
undertakings, built railways, established cities with the advancing line
of the western frontier--or represented such men as counsel in the
courts of law.
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