Industrial America Flashcards
(21 cards)
transatlantic telegraph cable connection established by. U.S & Europe
1866
Typewriters invented
1868
Carbon paper
1872
adding machines
1891
mimeograph machines
1892
skyscrapers in Chicago 7 New York are built w/structural steel & elevators
1880’s
55 cities offer local telephone service & cater to 50,000 customers
1880
Alexander Graham Bell established the American Telephone & Telegraph Company (AT&T)
1885
1.5 million telephones in operation
1859
New drilling technique allows petro to be mined
1859
New distilling technique of transforming crude oil into lucrative by-products.
Cracking
Who invents air brakes & automatic coupling devices to attach train cars?
Elijah McCoy
New South
An effort to industrialize the Civil War era South in the same way the North had been industrialized
Convict Lease System
Black prisoners were hired out to private companies & worked to take time off their sentences.
Vertical Integration
A network of firms, each contributing to the final product
Horizontal Integration
Gaining greater control over the market by acquiring firms that sell the same products
Corporation
Provided investors w/“limited liability
Trust
Monopoly formed by a small group of leading stockholders from several firms who manage the consolidated enterprise
Social Darwinism
the theory that individuals, groups, and peoples are subject to the same Darwinian laws of natural selection as plants and animals
The Gospel of Wealth
The rich should act as stewards of the wealth they earned, they should administer their surplus income for the benefit of the community.
