Books in America's Industrial Society in the Nineteenth Century series

As America changed from a farming economy to an industrialized economy in the 19th century, those involved in big business and speculation began to make huge sums of money. Since local banks could no longer meet their needs, the United States, in cooperation with state banks, was forced to create a safe system of currency that would allow the fledgling economy to develop and expand. A centralized banking system grew, answering the financial needs of business and creating a fertile environment for capitalism.

Founded in 1792 by Thomas Jefferson as the party of the common man, the Democratic Party dominated American politics until the 1850s. At a time when the Civil War about to erupt, the issue of slavery tore the country apart. The Democratic Party, with its large southern vote, could not weather the storm and tore apart as well. By the turn of the 20th century, the Democratic Party regained its focus and led the way into the next century in the fight for women's suffrage and civil rights.

In the years following the Civil War, railroads were privately owned and entirely unregulated. As the railroad industry grew and became more important to the growth of our young nation, the public demanded that these same railroads be regulated by the government. Since these railroads were the only fast transportation in the areas in which they ran, the companies held natural monopolies. In 1887, Congress passed the Interstate Commerce Act, making the railroads the first industry subject to federal regulation.