Ch 24 Test 10.16.15 Flashcards
After the Civil War, the plentiful supply of unskilled labor in the United States
helped to build the nation into an industrial giant
One of the methods by which post-Civil War business leaders increased their profits was
elimination of as much competition as possible
The national government helped to finance transcontinental railroad construction in the late nineteenth century by providing railroad corporations with
Land grants
The only transcontinental railroad built without government aid was the
Great Northern
The first federal regulatory agency designed to protect the public
Interstate Commerce Commission
The form of business combination used by Andrew Carnegie was
Vertical Integration
The form of business combination used by John D. Rockefeller were
Trusts
The form of business combination used by J.P. Morgan was
Interlocking directorate
One by-product of the development of railroads was
The movement of people to the cities
One of the most significant aspects of the Interstate Commerce Act was that it
represented the first large-scale attempt by the federal government to regulate business
Efforts to control the monopolizing practices of railroad corporations first came in the form of action by
State legislatures
The greatest single factor helping to spur the amazing industrialization of the post-Civil War years was
The railroad network
Early railroad owners formed “pools” in order to
avoid competition by dividing business in a particular area
During the Gilded Age, most of the railroad barons
built their railroads with government assitance
Which railroad company was founded by James J. Hill
Great Northern
Which railroad company was founded by Cornelius Vanderbilt
New York Central
Which railroad company was founded by Leland Stanford
Central Pacific
When private railroad promoters asked the United States government for subsidies to build their railroads, they gave all of the following reasons for their request EXCEPT that it was
The railroads would repay the subsidies by paying higher taxes
The United States changed from standard time zones when
the major rail lines decreed common fixed times so that they could keep schedules and avoid wrecks
Agreements between railroad corporations to divide the business in a given area and share profits were called
Pools
To help corporations, the courts ingeniously interpreted the Fourteenth Amendment, which was designed to protect the rights of ex-slaves, so as to
Avoid corporate regulation by the states
