Second Industrial Revolution and Gilded Age (business expansions)

Question 1

Second Industrial Revolution

Answer 1

a period of rapid growth in U.S. manufacturing in the late 1800s

Question 2

Patent

Answer 2

a grant of property rights to an invention

Question 3

Mass Production

Answer 3

making large quantities of a product quickly and cheaply

Question 4

I. An Age of Inventions

Answer 4

between 1860-1890, patents and mass productions of inventions allowed for businesses to grow quickly, immigration also grew and the government placed tariffs on foreign businesses

Question 5

Consolidate

Answer 5

to combine, such as a business

Question 6

Cornelius Vanderbilt

Answer 6

a railroad baron who controlled a large share of the railroads in the United States

Question 7

II. Railroad and The Key to Industry

Answer 7

the transcontinental railroad was built, Vanderbilt controlled the East, Stanford in the West, the government tried to regulate railroads with the Interstate Commerce act of 1887

Question 8

Wabash vs. Illinois: Supreme Court case

Answer 8

which said regulating railroads violated the Commerce Clause

Question 9

III. Cornelius Vanderbilt

Answer 9

1.Big on consolidation
2. most powerful railroad baron
3.bought New York Central Railroad but the owners originally refused
4.didn’t allow transfers to his trains
5.connected NYC to the great lakes and had over 4,500 miles

Question 10

Captain of Industry

Answer 10

a term that describes tycoons who are especially successful and powerful

Question 11

Robber Baron

Answer 11

a ruthless & powerful tycoon considered to have become wealthy by exploiting natural resources, corrupting legislators, or other unethical means

Question 12

Andrew Carnegie

Answer 12

an American industrialist who focused his attention on steelmaking

Question 13

Tycoon

Answer 13

a wealthy and powerful businessman

Question 14

V. Bessemer’s Process

Answer 14

manufacturing process to produce steel quickly and cheaply by blasting hot air through melted iron (1850s) brought to the U.S. in 1860s, made the steel industry successful

Question 15

VI. Carnegie: King of Steel

Answer 15

self-made poor immigrant, traveled through England and became familiar with the Bessemer’s Process, started in Homestead, PA, bought iron mines, railroads, steamships, and warehouses, railroad owners bought from him, bought out his rivals, and made more steel than all of England by 1900

Question 16

Vertical Integration

Answer 16

having control of all the steps to change raw materials into finished product