Final Exam Review Flashcards
What negative consequences to American society did Carnegie cause?
Destroyed other American businesses
Supplied low income to other families
What positive contributions did Carnegie have towards American society?
Boasted economy
Helped railroad production
Provided jobs and steel for America
What economic innovations helped Rockefeller help the US expand?
Standard oil
Made oil
Created monopolies and trusts (united with other businesses illegally)
What negative consequences did Rockefeller cause in American society?
Destroyed other American businesses
What positive contributions did Rockefeller have on American society?
Boasted economy
Provided oil and jobs
Nativism
People who only liked native born people not foreigners
New immigrants
People who traveled a great distance to come to America for jobs, money, freedom, etc.
Many native born America’s resented the new immigrants for what economic reasons?
They were taking their jobs because they worked for lower wages.
Many native born Americans resented the new immigrants for what social and religious reasons?
Some of them weren’t Christian
They believed immigrants were beneath them
Chinese exclusion act of 1907
Japan was limited of unskilled workers entry into the US
Corporation
Large business
Robber baron
A ruthlessly powerful us capitalist/industrialist of the late 19th century considered to have become wealthy by exploiting natural resources, corrupting legislators, or other unethical means
Laissez faire
Allow to do ( part of social Darwinism)
Social Darwinism
An economic and social philosophy supposedly based in the biologist Charles Darwin’s theory of evolution by natural selection holding that a system of untrained competition will ensue the survival of the fittest.
What factors were responsible for the rapid industrial growth in the late 1800s?
Growing market
Creative ideas
Natural resources
What economic innovations helped us industry expand for Andrew Carnegie?
Developed steel
Vertical and horizontal integration (buying out competitors and suppliers)
Plessy vs. ferguson 1896
A case in which the Supreme Court ruled that separation of the races in public accommodations was legal, thus establishing the separate but equal doctrine
Inflation
An increase in prices or decline in purchasing power caused by an increase in the supply of money
Bryan
Populist candidate in the 1896 election who lost to republican McKinley; said famous speech The Cross of Gold
Populist party
Political party that believed that people have a greater voice in the govt. and seeking to advance the interests of farmers and laborers
Why was overproduction a problem for the American farmer in the 1890s?
It ruined the soil, and no one needed much food, so it was wasted.
What did Bryan promise to do during the election campaign of 1896?
He promised the silver standard (more money in circulation for more people, bymetalism, value of money decreases, protects lower class, and prices rise).
Trust
Illegal mergers to gain control of businesses and strike it rich
Suffrage
Right to vote