Chapter 24 Flashcards

1
Q

early industrial revolution

A

steam enginge
RRs, canals, turnpikes
cotton gin, steel plow, sewing machine, telegraph
factories and interchangeable parts
middle class

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2
Q

how us became world’s leading industroial power

A

gov grants for transport and communication helped open new markets
businesses used new innovations, access to natural resources, new management structures, advances in marketing, and an ubndant labor source to increase production of goods
trusts
laisesez faire
buidling of TRR, discovery of mineral resources amd gov policies promoted economic growth
abubdant kiquid capital
innocations

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3
Q

benefits of TRR

A

tied the nation E to W
economy: jobs, industry, profit
population migration

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4
Q

negatives of TRR

A

costly
dangerous

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5
Q

government subsididies andfvatages

A

not cash = no new taxes
dicounted gov rates on mail mand military transport
new cities

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6
Q

gov subsidies disadvatages

A

greefy coporations
false sens of value of land
ghost towns
companies abused their control of the land

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7
Q

union pacific railroad

A

started in omaha
flat prarie land, mtn ranges
irish “paddies”
fought against NAI

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8
Q

central pacific railroad

A

started in sacremento
mainly in mtn ranges
chinese laborers
explosives
backed by the Big FOur
headed by lelanbd stanfprd

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9
Q

improvements in RR

A

steel rails for iron
standard width track
air brake
pullman palace cars
RR became nation’s biggest business

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10
Q

growing RR

A

steel industry
transported farmers to farmlamds
transported produce/prodcuts
mining and agriculture in W
immigration = abundance of workers
cities

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11
Q

coruption

A

stock fruad
monopolies
alliances/pools
cickbacks
polotocal cronies

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12
Q

RR changes the environment

A

tall grasslands become corn fields
short grasslands became cattle
almost hunted buffalo to exticntion
white pine forrests used for limber
standard 4 time zones

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13
Q

cornelius vanderbuilt

A

became rich from inventing steambaots
imoroved old, E networks of RR
poorly educated, course, rothless
savvy business decieions
superior servuce at a low price

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14
Q

andrew carnegie

A

scottish immigrant
moved up ldder quickly through hard work, extra tasks, charm and leadership
not a monoplisit
vertical integration
steeeeeel

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15
Q

vertical integration

A

combining into one organization all phases of manufacturing
eliminate the middle man
improve efficiancy
control quality of products at all phases

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16
Q

steel is king

A

exported 1/3 of world’s steel
bessemer process

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17
Q

john d rockefeller

A

horizontal integration
oil baron
standard oil comparny

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18
Q

horizontal integration

A

allying with competitors to monopolize a
given market

19
Q

jp morgan

A

bamking
interlocking directories
bought carnegie out og steel industry
1st billion dollar coporation: US Steel Coporation

20
Q

interlocking directories

A

place own officers on others board of directors to influence decision

21
Q

interstate commerce act

A

1887
congress reacts to public frustration of elite few controlling the masses
no pools, no rebates
RR must publush rates openly
no discrimination against shippers
no charging more for short runs
interstate commerce commission to enforce the law

22
Q

gospel of wealth

A

wealthy, entrusted with society’s riches, had to prove themselves morally responsible
andrew carnegie

23
Q

social darnwinism

A

“survival of the fitest”
millionares are the product of natural selection

24
Q

shermain anti trust act

A

1890
no combinations
no distinciotn b/w good and bad trists
ineffective
limited lanbor unions

25
industry in the S
tabacco resurges textile mills whole working families 1/2 salary of N workers credit at compamy store as a form of payment
26
changes for women
typewriter telephone gibson girl middle class women: delayed marriage, small families working women
27
gibson girl
independent and athletic “new woman” created in the 1890s by the artist Charles Dana Gibson
28
other TRRS
older E rrs headed by Vanderbuilt often financed W RRs N pacific tailroad from lake superior to the puget sound atchison, topeka and santa fe streched trough SW deserts southern pacficic rom new orleans to san fransicco great northern from duluth to seattle
29
pullman palace cars
upscale trian cars
30
stock watering
railroad stock promoters grossly inflated their claims about a given line’s assets and profitability and sold stocks and bonds far in excess of the railroad’s actual value.
31
the grange
formed by farmers to combat corruption
32
wabash vs illinois
states trued to stop tjhe RR monopoly but SC ruled states couldnt' regulate interstate commerve
33
bessemer pricess
made steel making cheaper and more effective
34
weapons against unions
hiring strike breakers asking courts to order stikes to stop or get troops starving stikers oaths forcing them to not join unions workers could be "blacklisted"
35
labor union
attracted 600000 but only lasted 6 yrs excluded chinese worker for the arbitration of industrial disbuted and 8 hr wordl day
36
knights of labor
campaigned for reform barred liquor dealers, gamblers, lawyers, bankers, and stockbrokers led by Terence v Powderly won strikes for the 8 hr work day became involved in may day strikes where .5 failed haymarked square bomnbing lowered their poplularity
37
haymarked square bombing
chicago police advanced on a meeting that had been called to protest brutalities by authories when a bomb was thrown 5 anarchists sentenced to death 3 got prison sentences that were latter pardoned
38
the americal federation of labor
1886: founfed by samuel gompers association of self-governing national unions wanted better wages, hrs and working conditions solid but narrow foundations 23000 strikes involving over 6.5 mil workers iwth a total loss of $450 mil 1900: public was beginning to concede the rights pf worlers
39
closed shop
practice of allowing only unionized employees to work for a particular company
40
kickbacks
frequent bribes
41
drake's folly
sarted the oil boom with a gusher in Penn
42
gustavus f swift adn philip armor
trusts in the meat industry
43
james b duke
s cigerette industry
44
henry w grady
editor of the atlanta constitution urged S to beat yankees at their game of industry