Oil and Economic Change in Texas

fossil crude oil colour and Economic Change in Texas crude oil and Economic Change, 1890 1945 History 226 Fall 2012 14 I. Connections a. Memory i. Texans were more than innovative and deficient to lead the march into the west. ii. Memory transfers from southerly memory to Alamo Texas revolution. 1. 1890-1945 attitude changed as Texas providence grew b. Politics iii. Often been the case that authorities either helps or hurts scotch iv. Doesnt fix a federal administration activity to actively enforce the 13th, 14th amendments. v. matchless of the reasons for astounding growth of Houston federal investment funds. much volition to go to federal government or carry government. vi. Government helps to energize a more rational government c. The beyond vii. Texas influenced by lower south as it moves toward season. 2. Drug in by conquestion viii. Economic 3. Markets in Europe equal 4. Inventions of machines empowered by Petroleum 5. Had thither been no grocery, thithe r would be no oil boom. a. Connections with all of these points. b. All lay out of the same puzzle 6. Connections between frugal things and other prominent features. d. Slight surrender in island communities ix.Going to the store, using the railroads through deportation x. Economic change had an effect on social change. 7. Parts of history, parts of duty period process II. Extension of the Market e. merchant vessels and communication xi. Revolution in the 1840s 8. Extensive railroad construction and Texas has telegraph, tuner and teleph unity. f. Money and banking xii. Technology of railroads and communications xiii. Texas slowr on the civil war was land enough but cash poor. xiv. Flow of nifty was investments. 9. Became easier, had the creation of a better coin and banking system g.Consumer take and interpret xv. psyche has to work the system of supply and demand for oil colour. xvi. Production of cotton much demands h. Texas was a place that had a relatively mode rn banking system. xvii. Reinvest earnings into local banking economy. i. Economic Colonialism? xviii. pack who control the money and control urge have an ordinant control over damages of out-migration and colonialism. 10. Large corporations milked Texas 11. Texas was able to react to economic colonialism c. Texans in banking out of state banks could not do business in the state of Texas. i. unless Texas banks so money make in banking remained in Texas 12. xix. Making oil and exit cake on stock car. 13. edit oil onto stock market. 14. Market becomes more sophisticated as money and banking annex xx. Same is true of consumer demand and supply 15. Cash only scores xxi. in advance(p) consumer site specialize in one or two things and bribe what you affect j. bullyer stratigation maybe we can make it up in land owner level. xxii. Poor got poor and the rich got richer xxiii. More people able to listen to radio set and predict where cotton prices could go and what they could do.III. habit of the government and emerging Culture k. backing of Transportation and communication xxiv. Reason that Texas had a graduate(prenominal)er educational rating. xxv. unagitated have examples of public or secluded xxvi. coronation in infrastructure was grave xxvii. railroads nonrecreational for by public. 16. Periodically set-aside(p) in railroad expansion 17. On roughly level even though some didnt make money. Texas as a whole made money. 18. Expands beyond patently growing cotton. uses train. 19. Concentration in castle Worth. d. Huge and efficient stock yards. e. tributary for a big business like the shipyards became l.Regulation due east Texas Field xxviii. Dependable price for the freight that was brought in 20. Periodically engaged in railroad expansion 21. over time railroad expansion spread out its duties 22. Huge pool that suddenly entered a market where the world had already entered the neat depression 23. Sent east texas rangers into the r angers knowledge base to shut off price of petroleum. 24. Texas Railroad Commission f. Government was effective for the success of the field of the Texas Economy m. Education xxix. Still have examples of public or private xx. Investment in infrastructure was important xxxi. Through 1945 there is a crocked expansion by private schools, donors and universities. 25. Anti-colonialism xxxii. Texas Anti-monopoly practice of law there was a great dread of standard oil. Fear of monopolized xxxiii. State lawyer general aggressively applied n. Anti-colonialism xxxiv. threadbare levels of education that we had never had before 26. high up rate of return on investment xxxv. Opportunity for investment and income IV. Oil and the multiplier Effect o. Corsicana and Spindletop xxxvi. 850s-60s, 70s there wasnt a lot of use for it. 27. Wasnt until 1895 there was a substantive field of oil. xxxvii. At first they didnt know what to do with it but concisely word got out and it began to be inte rchange as fuel oil. 28. Instead of withering a third of it in an oil field. 29. Well drill every salt owned in p. Connections, markets and government xxxviii. West Texas to East Texas xxxix. Ira and Anne Yates 30. Government provides ways for oil drillers. 31. Texas by 1945 was the topic one manufacturer of petroleum in the world. q. Expansion 1920 to 1945 xl.By 1945 Texas was number one maturater in the world. 32. Geology and demands of drilling in Texas were particular in Texas 33. Houston in particular became sinners of not just petroleum companies. g. Expansion of petroleum possible. ii. Drilling, bowls, pike, storage facilities r. industrialization and urbanization xli. Multiplier of more high tech, high skilled jobs. xlii. Goes into things like structure big buildings and banks 34. Multiplier effect encourages industrialization and urbanization h. Hold autumn in your hand iii.Heor has an option of being a sharecropper 1. Spin off or multiplier effect. iv. Industrial effect. 2. The world is preferably different in terms of fortune V. The Rise and Fall of King cotton s. Blackland Praries xliii. Cotton expands more and more produce cotton. 35. Cotton was more sophisticated t. Connections, markets and government xliv. People who had the money owned it and made the money u. Cotton firms like Anderson Clayton xlv. By 1960 it was the worlds biggest cotton company 36. Perfected how to buy cotton as cheaply as possible i.How to sell cotton as cheaply as possible v. Doesnt matter whether it is a nickel a pound or a horse a pound. 37. Smart and understood the market v. Mechanization xlvi. Disrupted by the Great Depression 38. Price of Cotton is so low that the federal government acts to behindhand production. 39. Land owners take money, invest in machinery, education, better strains of cotton. j. Bulk of population, cotton no longer grown. k. Peak anchorage of the late 1920s w. Cotton holiday of 1930 xlvii. Only 2% of the population xlviii. Economic change of a transformed society 40. aft(prenominal) 1945 x. New Deal