Exam 1 pt 3 Flashcards
what takes over the west now in mining? / Why does a cattle frontier emerge in the west?
silver/ Because of the transcontinental railroad.
how do you get cattle to the railroad to be processed what do you need?
“cowboys” who are 16/ 17-year-old boys who are hired by cattle rangers to escort cattle to railroads.
Who has access to oil? / What nickname does oil have / What role does it play in?
Texas and Oklahoma and Utah / Black Gold/ industrialization, railroad construction, steel and the economy.
What was Spindletop, Texas nickname? Why?
“The Oil Geyser” because they can produce 5 hundred thousand barrels of oil and are still producing today.
What three factors that power the US economy?
railroads, steel, and oil.
What were the captains of the industry also called?
Robber barons
What men are considered the captains of industry?
Andrew Carnegie, JP Morgan, John D Rockefeller, and cornelius Vanderbilt.
Andrew Carnegie becomes a titan of what industry? / How does he turn Pittsburgh into a steel capital of USA?/ What did he control? / Who does he sell the steel company to?
Steel / A furnace called Open Hearth Furnace, but it was heavier/ Controls the steel, price, and construction of steel/ JP Morgan
What industry is JP Morgan the Titan of? / What did he buy and dominate? / What does he control?
Banking/ buys Carnegie steel out anddominates 2/3rd of the steel production /He controls the barbed wire, farm equipment, skyscrapers, bridges, and railroads.
what industry is JD Rockefeller in Titan of? / What company did he create? What does he control / He returns the first what?
Oil industry/ Standard oil / controls 90% in US. / First Billionaire
What steamship did Cornelius Vanderbilt built in New York City? / Why did he put money on the railroad? / What river does he control?
“The Commadore Company” / because he sees that is the future of the United States / controls 75 percent of the Mississippi river.
what is social Darwinism?
Natural leaders will survive and improve in society and hard work and wealth you get is a sign from God. Those who are lazy are lower class.
Who made the book “gospel of wealth” and what is it about?
Andrew Carnegie/ about what responsibilities that you should do with your wealth.
What hall did Andrew Carnegie create and what institution did he create?/ What day did JD Rockefeller create/ What did Cornelius Vanderbilt create?
Carnegie Hall and Carnegie Institute / University of College Colonial Williamsburg / Vanderbilt University.
why are the captains of industry also called Robber Barons?
They used Extortion, Kickbacks, bought out companies, spies and congress. The wealthy men would pay congress off to not pay attention to them and say nothing.