APUSH UNIT 6 Flashcards
Cornelius Vanderbilt
profitable line. Vanderbilt took control of the Hudson River Railroad, the New York Central Railroad, and the Lake Shore and Michigan Southern Railway
Transcontinental Railroads
transport western food crops & raw materials to East Coast markets & manufactured goods from East Coast cities to the West Coast international trade
Union and Central Pacific
construction of a railroad & telegraph line from the MR to the PO and secured the use of that line to the government 2 companies legislation authoriz
Speculation and Overbuilding
Railroad companies over build, suffered from mismanagement, and engaged in fraud
Rebates
Discounts
Pools
Formed by competing companies to fix rates & share traffic
Bankruptcy and Railroads
J.P. Morgan with no competion he could stabilize rates & reduce debts
Panic of 1893
A financial panic sent 25% of all railroads into bankrupcty
Federal Land Grants & Loans
provided significant subsidies to railroad companies, including granting large amounts of land to build railroads
Interstate Commerce Act
Congress could apply the Commerce Clause more expansively to national issues if they involved commerce across state lines
Commerce Clause
gives Congress broad power to regulate interstate commerce and restricts states from impairing interstate commerce
Sherman Anti-Trust Act
first Federal act that outlawed monopolistic business practices
Hard money vs Soft Money
Arguing wether the gov’t should be invovled in the economy (famers/working class vs monopoly companies)
1890s tariff policy
increased the taxes on most imported goods while eliminating taxes on luxury items intent was to protect American industries from foreign competition
Government regulation
gov’t that promotes economic growth and regulate business but with a limited involvement in addressing social & economic issues & a hands-off approach
Republican Dominance
supported business and industry with a protective tariff and hard money policies (hurt working class)
Silver Purchase Act
diminishing gold reserves, which led to economic panic
Buffalo Herds
As more people settled the more the buffalo pop. diminished meaning the more the Native pop. diminished
Mineral Resources
Silver and gold
Minning Frontier; boomtowns
Where mineral resources would be great towns would burst in pop.
Chinease Exclusion Act
It was the first significant law restricting immigration into the United States. 10-year ban on Chinese laborers immigrating to the United States
Cattle drives
The movement of the cattle from one location to another
Barbed wire
to restrict the movement of cattle and other animals
Homestead Act
granting adult heads of families 160 acres of surveyed public land for a minimal filing fee and five years of continuous residence on that land (west)