Period 6

Question 1

Transcontinental Railroad

Answer 1

The Transcontinental Railroad, completed in 1869, connected the eastern and western United States. It was built primarily by the Union Pacific and Central Pacific Railroad companies. The railroad revolutionized transportation by reducing cross-country travel time from months to days, boosting trade, migration, and economic growth. However, it also led to displacement of Native Americans and the exploitation of Chinese immigrant labor.

Question 2

Horizontal Integration

Answer 2

During the late 19th century, horizontal integration was a business strategy where a company took over or merged with competitors to dominate an industry. it is significant because It allowed monopolies to form, increasing corporate power while reducing competition, which led to public backlash and the eventual creation of antitrust laws.

Question 3

Vertical Integration

Answer 3

A business strategy where a company controls all stages of production, from raw materials to distribution, to increase efficiency and reduce costs, used by Andrew Carnegie in the late 1800s. it’s signficant because it gave businesses full control over production, lowering costs and increasing efficiency

Question 4

Laissez-faire Capitalism

Answer 4

This economic policy was prevalent in the late 19th century, and promoted minimal government interference in businesses. It’s significant since it allowed industrialists to accumulate vast wealth and led to monopolies, worker exploitation, and economic inequality.

Question 5

Knights of Labor

Answer 5

Founded in 1869, the Knights of Labor was a labor union that sought to unite all workers, regardless of skill level, to fight for an eight-hour workday and better conditions. It’s significant as one of the first national labor unions, it promoted workers’ rights, but its decline after the Haymarket Riot weakened labor movements for years.

Question 6

Haymarket Riot

Answer 6

On May 4, 1886, a labor protest in Chicago turned violent when a bomb exploded, killing police officers and protesters. The event intensified anti-labor sentiment and weakened the influence of unions like the Knights of Labor.

Question 7

Pullman Strike

Answer 7

A nationwide railroad strike in 1894 erupted when the Pullman Company cut wages without lowering rent in company-owned housing. Significant since federal troops violently suppressed the strike, highlighting the federal government’s support for big business over labor rights.

Question 8

Homestead Strike

Answer 8

In 1892, steelworkers at Andrew Carnegie’s Homestead Steel Plant protested wage cuts, leading to a violent clash with Pinkerton guards. Significant since the failed strike weakened the labor movement and reinforced corporate power over workers.

Question 9

Sharecropping

Answer 9

After the Civil War, sharecropping became a dominant agricultural system where landowners provided land and supplies to tenant farmers, who gave a portion of their crops as rent. Significant since it kept many African Americans and poor whites in a cycle of poverty and debt.

Question 10

Mill Towns

Answer 10

In the late 19th and early 20th centuries, industrialists built mill towns where workers lived and worked under company control. Significant since these towns fostered economic dependence on employers and harsh working conditions, particularly in the textile industry.

Question 11

Cornelius Vanderbilt

Answer 11

A railroad tycoon in the mid-to-late 19th century, Vanderbilt expanded the nation’s transportation network through his railroads. Significant since he helped shape the modern corporate economy but also contributed to monopolistic practices.

Question 12

Andrew Carnegie

Answer 12

A leading steel tycoon of the late 19th century, Carnegie used vertical integration to dominate the industry. Siginifcant for his steel monopoly and his philanthropy through the “Gospel of Wealth,” arguing that the rich had a duty to give back to society.

Question 13

John D. Rockefeller

Answer 13

The founder of Standard Oil, Rockefeller used horizontal integration in the late 1800s to control nearly all oil production in the U.S. Significant since his monopoly helped lead to the eventual antitrust laws.

Question 14

J.P. Morgan

Answer 14

A powerful banker and financier, Morgan dominated corporate finance in the late 19th and early 20th centuries. Significant for his influence and power and even helped bail out the U.S. government during economic crises