American Physics 1870-1940

The growth of the US College/University system was shaped largely by industrialists, large and small, who emphasized A & M style schools, with business education following along as the 20th Century dawned. Theoretical science was underfunded leaving the US behind European institutions in the first third of the 20th Century. The problem was eventually perceived, but education and research in physics had not completely caught up by WWII. Lets suppose this was not the case and theoretical research and education programs were funded at or slightly beyond European levels from the 1870s, without detracting substantially from the A & M education role. Where might this place the US in Physics research in the 1930s? Anything intriguing enough that industry or the military might be funding early nuclear power research?
 
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