The Evolution of a Nation Free Essay, Term Paper and Book Report
There were many internal changes that took place between and greatly affected
America between 1865 to 1945. In this paper we will review some of these changes and
how they directly affected America.
Jay Cooke's firm had been the government's chief financier of the Union military
effort during the Civil War. The firm then became a federal agent in the government
financing of railroad construction. The railroad industry involved a huge amount of
money and risk. Building tracks where land had not yet been cleared or settled required
land grants and loans that only the government could provide. The nation's first
transcontinental railroad had been completed in 1869. Entrepreneurs planned a second,
called the Northern Pacific. Cooke's firm was the financial agent in this venture, and
poured money into it. On September 18, 1873 the firm realized it had overextended itself
and declared bankruptcy.
Mirroring the firm's collapse, many other banking firms and industries did the
same. This collapse was disastrous for the nation's economy. A st......
Word Count: 1878
Page Count: 7.5 (250 words a page / double spaced)
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