Matzeliger's Lasting Machine Transforms Lynn's Shoe Industry, Cuts Prices for Working Americans

By 1885, Jan Matzeliger's lasting machine is in commercial operation in Lynn, Massachusetts, producing up to 700 pairs of shoes per day (vs. 50 by hand). The price of a pair of shoes falls by more than half, making footwear affordable to working-class Americans for the first time. The Consolidated Hand Method Lasting Machine Company's stock soared; Matzeliger received shares in lieu of cash.