Inventions of the industrial revolution
The significance of the invention of the first telephone is a new way of communication and how us people communicate.Also it takes much less time to use compared to the telegraph or sending letters.Information was widespread in a much shorter time period.It made any way of communication easier and quicker.
The first light bulb was invented in 1800 by Thomas Alva Edison.The significance of the light bulb was to emit light like a lantern.Also lightbulbs used electricity instead of fuel.Lightbulbs lasted longer than any other way of having light.
The Bessemer process was invented in 1855 by Henry Bessemer.The significance of this machine was that it was the first inexpensive industrial process for the massive steel production.Also the process took much less time than other technologies at the time.More steel was produced at a low price.More inventions were created and general improvement.
The first railroad system was made in 1825 by Cornelius Vanderbilt.The significance of the railroads was a way of the fastest transportation in the world.They used them for traveling and taking goods to other places much quicker.It was a major role in the industrial revolution.
Steel was used for almost anything in the industrial revolution .Andrew Carnegie was known for using his steel company for railroads and buildings.The significance of steel was to help create new market opportunities.It also added a lot more jobs to people.Andrew Carnegie used steel to help enforce railroads for trains to travel on.
In 1859 oil was first discovered in Pennsylvania.John D. Rockefeller was famous for his oil business,and he made oil refineries.The significance of the oil was used for fueling things like lamps and other things.Also oil was used for the first automobiles.It serves as an economic energy source.
In 1886 the first automobiles were invented by many people.The automobiles' significance was for transportation.Also it saved tons of time and was much easier.The automobiles used oil to run on and was one of the greatest inventions.
In 1889 many companies started to become holding companies.The significance of a holding company was for a business to own companies stocks that produce goods.Also for companies it created a new organization.By managing the companies it owns it merges them into an enterprise.
In 1882 Standard Oil formed the first trust. The significance of a trust was to merge businesses without violating laws.Its also a legal arrangement that allows one person to manage another person's property.Companies had stockholders give their stocks to a group of trustees and in exchange the stockholders received shares in the trust.
In the 1870's many companies organized pools.Pools significances were agreements to keep prices at certain levels.So it helped all companies because instead of competing against one another they worked together to have the same prices.Companies that created pools had no legal protection and couldn't use their agreements in court.