Chapters 23-26 Flashcards
John D. Rockefeller
He was the owner of the Standard Oil Company, which was a monopoly, and he created horizontal integration to make it appear as though it wasn’t a monopoly by buying smaller oil companies but didn’t change their name.
J.P. Morgan
He was a financier/banker who purchased Carnegie Steel Co. for $400 million and turned it into the first billion dollar company in the world. He changed the name to U.S. Steel.
Andrew Carnegie
He stole a steel making process from Henry Bessemer. Later on he steals another company called Allegheny simply because they were manufacturing better steel so he lied about them to a newspaper and then when they went under he bought the company and stole their process. He practiced vertical integration which was where a company owned the whole process from start to finish. He also gives money to start free libraries.
Henry Bessemer
He created the steel process roughly 20 years before Carnegie had stolen his process and take it to the US.
Interlocking Directorates
Were the executives/directors from the board of one company also work as executives or directors on the board of another company. This practice was introduced by J.P. Morgan.
1868 -1872 Elections
In 1868 there were two presidential candidates were Ulysses S. Grant and Horacio Seymour. In 1872 the two presidential candidates were Ulysses S. Grant and Horace Greeley. Ultimately Ulysses S. Grant won both elections.
1876 Election
The two presidential candidates were Rutherford B. Hayes and Samuel J. Tilden. Ultimately it was Rutherford B. Hayes who won the the election.
1880 Election
The two presidential candidates were James A. Garfield and Winfield Scott Hancock. Ultimately James A. Garfield won the election.
1884 Election
The two presidential candidates were Grover Cleveland and James G. Blaine. Ultimately Grover Cleveland won the election.
1888 Election
The two presidential candidates were Grover Cleveland and Benjamin Harrison. Ultimately Benjamin Harrison won the election.
1892 Election
The two presidential candidates were Grover Cleveland, James B. Weaver (populist), and Benjamin Harrison. Ultimately Grover Cleveland won the election. Him winning this election made him the the first and only president to win two elections not back to back. He is the 22nd and 24th president.
1896 Election
1896 Election
The two presidential candidates were William McKinley and William Jennings Bryan. William Jennings Bryan was the democrat and populist candidate. Ultimately William McKinley won the election.
James A. Garfield
He was shot in 1881 after winning the 1880 election. He was shot twice by Charles J. Guiteau but succumbed to death by the unsanitary methods of doctors.
Yellow Dog Contracts
You cannot work at that place if you are in a union. Big no no.
Blacklist
Blacklist is someone who gets fired from their job and they cannot find another.
Union Pacific Railroad
The Union Pacific Railroad was going from East to West. They start the railroad in Omaha and most of the immigrant workers are Irish.
Central Pacific Railroad
The Central Pacific Railroad was going from West to East. They started in San Francisco and most of the immigrant workers are Chinese.
Trust
A trust is where one company takes control of many and in some cases they don’t change the name of the new company that they take over so it appears as though they don’t have a monopoly. Also a new type of industrial organization, in which the voting rights of a controlling number of shares of competing firms were entrusted to a small group of men, or trustees, who thus were able to prevent competition among the companies they controlled.
Sherman Anti-trust Act
The Sherman Anti-trust Act was an act that was passed to regulate monopolies and it was not so much as controlling the monopoly as it was stopping them from becoming too big. The Anti-trust and tried but also failed at enforcing it because there was no one in particular who was ever given the job to investigate anyone. Passed in April of 1890
Monopoly
Monopolies were these companies that grew to be so huge that there was very little in the market for what they sold other than them so they could charge whatever they want.
National Labor Union
This first national labor organization in U.S. history was founded in 1866, the organization devoted much of its energy to fighting for an eight-hour workday before it dissolved in 1872.
*Excluded the Chinese and don’t really help blacks or women.
*Mostly trying to get an eight hour work day.
Knights of Labor
The second national labor organization, organized in 1869 as a secret society and opened for public membership in 1881. The Knights were known for their efforts to organize all workers, regardless of skill level, gender, or race.
→Also arguing for an eight hour work day
→The Haymarket Square Riot will end their union.
Haymarket Square Riot 1886
A May Day rally that turned violent when someone threw a bomb into the middle of the meeting, killing several dozen people.
American Federation of Labor founded 1886
Unions that included only skilled workers. Led by Samuel Gompers, the AFL sought to negotiate with employers for a better kind of capitalism that rewarded workers fairly with better wages, hours, and conditions. The AFL’s membership was almost entirely white and male until the middle of the twentieth century.
Closed Shop
In order to work there you must be apart of a union.
Cornelius Vanderbilt
He should be connected to the railroad, more specifically the Grand Central Station. He helps create Vanderbilt University He family was famous for having a building with the first indoor plumbing.
Robber Baron/Captain of Industry
Same terms with different connotation.
→Robber Baron
powerful individuals who amasses or gain wealth in questionable ways (scandal, lie, cheat, steal… etc.)
→Captain of Industry
powerful individuals who move a section of America forward.
Laissez-faire
→It is a French term that means to leave it alone.
→Capitalists argue for the government to stay out of businesses.
Corporation
An organization the is owned by many people but treated by law as though it were a single person.
Stockholders
People who own the corporation because they own shares of ownership called stocks, these owners are called stockholders.
raises large amounts of money for big projects while spreading out financial risk
Alexander Graham Bell
He invented the telephone but it was originally invented to help him communicate with his deaf wife.
Thomas Alva Edison
Invented the light bulb, motion picture camera, and the phonograph. With the light bulb they were now able to have a 24hr workday. Helps create the electric company GE.
Andrew Carnegie’s Philosophy (Gospel of Wealth)
He argues that the rich are destined to be rich and the poor are destined to be poor, and he argues to justify his state and to keep the poor in their state of poorness.
Leland Stanford
He needs to be connected to the railroad, more specifically Central Pacific Railroad. He also helped create Stanford University. He was the Governor of California.
Trade Union
A union with workers who have a specific skill.
Industrial Union
United ALL craft workers and common laborers in a union.
United States Steel Corporation
This company was originally known as Carnegie Steel until it was bought by J.P. Morgan. It is the first billion dollar corporation in the world.
Samuel Gompers
Leader of the AFL (American Federation of Labor) which is the most successful union and its exclusive.
Pullman “Palace Car”/Strike
The workers go on strike for wages so the owner put the mail on the train and people need their mail so the federal government gets involved and sends troops down to stop the workers.
Orville and Wilbur Wrigh
They are known for inventing the airplane and having the first manned mechanical flight.
Nikola Tesla
He helped with the creation of the modern radio.
Land Grants
The government gave land to railroad companies to compensate for building railroads. They gave them the land 5-10 miles past the railroad for the railroad to sell to businesses.
Transcontinental Railroad
1862-1869 built by the union and central pacific railroads and it officially connects the East and the West.
Promontory Point Utah
This is where the railroads finally connected. They actually drilled in a golden stake and took it out and placed it in a museum.
Jay Gould
He is a railroad tycoon, who is one of the wealthiest men in American history and he’s one of the most corrupt men in American history. He is the face of robber barons.
Great Northern - Duluth to Seattle
James J. Hill may be the greatest builder of all time. He was the one who had the foresight to know that we needed more than one transcontinental railroad. He was a very honest individual and not corrupt.
Interstate Commerce Commission
When they create the act the government regulates commerce between states.
Lockouts/Strike
When workers going on strike the owners lockout.
Company Towns
When a company pays you wages but you can only spend them within their company town
Creation of Timezones
Railroad companies help to standardize time by creating four time zones. (Eastern, Central, Pacific, & Mountain) Before the time zones because you traveled by horse and buggy or oxen and they just showed up when they showed up because they weren’t going by schedule like the railroad did.
Great Railroad Strike of 1877
The first nationwide strike.
Scab Workers
They are the people who work for companies during strikes.
Homestead Strike
Andrew Carnegie against his steel mill workers and the federal government had to get involved.
Edwin Drake
First guy to successfully drill for oil and before petroleum was used for oil it was used for kerosene.
Herbert Spencer
Herbert Spencer comes up with the philosophy of Social Darwinism. He changes Darwin’s idea towards businesses like how bigger businesses should be allowed because the little companies need to be fit or they won’t survive.
James Duke/American Tobacco Company
He is the tobacco tycoon or the tobacco guy. He founded Duke University.
Creation of Labor Day
A national holiday that allows workers a day off.
The Homestead Act
Basically where the government gave you land to move out west. A federal law that gave settlers 160 acres of land for about $30 if they lived on it for five years and improved it by, for instance, building a house on it. But the land was usually infertile.
Sodbuster
Nickname for the people who move to settle the west. As cotton is to the south wheat is to the west.
Frederick Jackson Turner
He wrote the frontier thesis where he argues that America always need a frontier to explore. Was a very influential interpretation about American history, more specifically about the west and westward expansion.
Comstock Lode
The Comstock Lode (Nevada 1859) over $340 million was mined from. It had one of the largest mineral deposits out west, and it’s still producing to this day.
Long Drive/Cattle trails
*The cattle that became famous are the Texas Longhorns. They become famous because they are hardy.
*The Mexicans/Spanish were the ones who taught us about ranching.
*The most famous is the Chisholm trail, and it goes from Texas to Abilene, Kansas. (1500 miles)
*Once the cattle is in the east has been replenished then the prices go down
Cattle Kingdom
Cattle kingdoms were when you could make a lot of money very quickly in the ranching business.
Cowboys
They are smaller than normal men who work on a farm. They are smaller than normal men to minimize the strain on horses.
Open Range
When you have public government land where anyone can go and graze cattle.
Donner Party
A group of settlers attempted a shortcut through the mountains. Most of the the party froze to death, starved, or resorted cannibalism.
Boom-town to Ghost-town
*Boom-town were small towns that grew while the mines were open and then quickly disappeared when the mine closed.
*The two main things that would’ve allowed the town to survive would have been the railroad or water, and if you had one of those two than then your town would survive
*Towns would often fight for the railroad to come to the town.
Placer Mining
Simple surface mining (shovel, picks, and pans to get surface metals)
Quartz Mining
They went deep underground to get metal, and they got more metals this way.
Reservation System
Where they forced the Indians to live on certain plots of land communally. Ended with the Dawes Severalty Act in 1887
Battle of Little BigHorn
This was Custer’s Last Stand. In two days, June 25 and 26 1876, the combined forces of over 2,000 Sioux, Cheyenne, and Arapaho Indians defeated and killed more than 250 US soldiers. The battle occurred because soldier tried to force the Indians onto a reservation and they protected their territory, soon after the United States Army soon extracted retribution.
Battle of Wounded Knee
The battle happened because tensions erupted violently over two major issues: the Sioux practice of “Ghost Dance,” which the US government had outlawed, and the dispute over whether Sioux reservation land would be broken up because of the Dawes Act.
Dawes Severalty Act
In 1887, an act that broke up Indian reservations and distributed land to individual households. But some of the land was sold to non-native buyers. The US attempts to give land to the Natives but it fails.
Sitting Bull
Sitting bull was a chief of the Sioux tribe.
