Important People, Terms, And Events Flashcards
What was the great railroad strike of 1877?
When railroad workers throughout the United States went on strike to protest lowering of their salaries.
What was the compromise of 1877?
An act in which democrats ceded the White House to the republicans in exchange for an end to reconstruction in the south.
Charles Guiteau
Assassinated Garfield in Washington D.C, summer of 1881.
Pendleton act 1883
Created the civil service commission to ensure that hiring of federal employes was based on examinations and merit rather than political patronage.
Sherman silver purchase act
Allowed the government to buy more silver to produce currency.
Pension act
Distributed more money to civil war veterans.
McKinley tariff
Increased duties on foreign goods to about 50 percent.
Andrew Carnegie
Scottish-American business tycoon and owner of the Carnegie steel company; used vertical integration to maintain market dominance.
John D. Rockefeller
Founder of the standard oil company; used horizontal integration to effectively buy out his competition.
Cornelius Vanderbilt
Steamboat and railroad tycoon; laid thousands of railroad track and established standard gauge for railroads.
Transcontinental railroad
Connected the pacific and Atlantic lines
Wabash Case
Stated that only the federal government could regulate interstate commerce.
Vertical integration
A process in which a producer buys out all other companies needed to produce their product, as well as the companies that already produce the product.
Horizontal Integration
Essentially buying out all other competing companies so there is no competition left.
Charles Darwin
Introduced new theory of natural selection causing the wealthy to believe that they had become rich because they were literally superior human beings compared to poorer classes.
