Surplus

• not "dumping" but normal expansion
  
• search for markets and raw materials
  
• exports rise, favorable trade balance
  
• tariffs rise to protect domestic industry
  

High Tech Industry

• 1851 Crystal Palace expo in London
  
• Baldwin, McCormick, Colt, Goodyear
  
• Singer - 1st multinational company
  

Isaac Singer (1811-1875)

• 1856 - patent pool, Family Model A $125
  
• began new industry - shoes, collars, veneers
  
• survived 1857 Panic due to foreign sales
  
• 1863 - Imslee Hopper - emph. quality
  
• 1864 - 175 agents in Europe
  
• 1867 - built Glasgow factory
  
• 1873 - Elizabethport factory - cost $12, sold $65
  
• advertising cards, embezzlement fund
  
• weekly reports (not by Evarts until 1880)
  
• "a living moving army of irresistible power,
  peacefully working to conquer the world."
  
• 1879 Bismarck tariff, kartels to control markets
  
• 1895 incorp. by George Neidlinger in Germany
  
• 1897 incorp by Rudolf Maeder in Russia - Podolsk
  

"Greatest Department Store on Earth"

• Mira Wilkins - from trade to agents to factories
  
• Western Union, Bell Telephone, Western Electric
  
• Westinghouse air brakes, Remington typewriter
  
• Pond's, Burroughs, Eastman
  
• Equitable, New York Life, Mutual
  
• expanding high-tech cos. create foreign demand
  

Spillover in Canada, Mexico

• Canada 1879 policy to grant concessions
  
• Porfiro Diaz 1877-1911 - rurales; $.25 labor
  
• 1879 Sonora RR part of Atchinson, Topeka
  
• 840 mining cos. by 1908 - highest investment
  
• Consolidated Silver forms Batopilas Co.
  
• Meyer Guggenheim forms ASARCO
  
• Guggenex explores with Rhodes in South Africa
  
• Alaska syndicate with Morgan for Kennecott copper
  
• American Chicle, W.R. Grace
  
• Bernard Baruch's Continental Rubber
  

Sources:

• Wilkins, Mira. The Emergence of Multinational Enterprise: American Business Abroad from the Colonial Era to 1914. Cambridge MA: Harvard University Press, 1970. 310 p.
• Wilkins, Mira. The Maturing of Multinational Enterprise: American Business Abroad from 1914 to 1970. Cambridge MA: Harvard University Press, 1974. 590 p.
• Wilkins, Mira. The History of Foreign Investment in the United States to 1914. Cambridge MA: Harvard University Press, 1989. 1055 p.
• Wilkins, Mira, ed. The Growth of Multinationals. Aldershot, Hants, England ; Brookfield, Vt., USA : E. Elgar, 1991. 608 p.
• Caltvedt, Lester. "Herzog's Fitzcarraldo and the Rubber Era," Film and History XVIII No. 4 (December 1988) 74-84.
• Davis, John H. The Guggenheims: an American Epic. New York: Morrow, 1978. 608 p.