Post-Civil War Period:

A new industrial era for America was emerged in the earlier part of the twentieth century. The post Civil War period set the platform for the great expansion of production capacity in the new century. Joint stock companies came into existence by the end of Civil War bringing the modern forms of capital investment. It led to the separation of capitalist from the employer, with managers becoming the salaried employees of the financiers who owned the capital. During post-Civil period, J. P. Morgan Cornelius Vanderbilt, Jay Gould, and others built industrial empires. This period resulted in the extension of railway lines and development of new territory.

By 1900 all developments enhanced capital and production capacity, the expanded urban workforce, new western markets, and an effective national transportation system, resulted in the production explosion of the early twentieth century.