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Big factories begin to outproduce small family-run businesses.
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William Kelley and Henry Bessemer created the Bessemer Process.
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Oil is discovered under United States land.
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Rockefeller creates the Standard Oil trust.
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J. Pierpont Morgan became the most powerful banker in the United States
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Monopolies and trusts rule the world of banking.
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J. Pierpont Morgan gains control of the Railroad Empire.
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Carnegie sells his massive nationwide Steel Empire.