Test #1 Flashcards
Robber Barons
American capitalist who acquired large amounts of wealth through ruthless, inappropriate (immoral) means
Captains of industry
business-leader who acquired large amounts of money, giving a large amount to the community to contribute positively to the country. (philanthropist
Cornelius Vanderbilt
Ship commodore – New York Central Railroad
~Made millions from steamboat business, and used the money to merge local railroads to the New York Central Railroad
Andrew Carnegie
“Steel Giant”
~ American industrialist who founded the Carnegie Steel Company in 1892. By 1901, his company dominated the American steel industry
John D. Rockefeller
OIL… Trust-maker. Monopoly
~Established the Standard Oil Company, the greatest, wisest, and meanest monopoly known in history
John Pierpont Morgan
Bought Carnegie Steel Company… made millions off of it
Vertical Integration
“own a little of everything throughout the process, from the bottom up”
~Practice where a single entity controls the entire process of a product, from the raw materials to distribution.
Horizontal Integration
“own just one part of the process”
~Type of monopoly where a company buys out all of its competition. Ex. Rockefeller
Trust
A group of corporations run by a single board of directors. A monopoly that controls goods and services, often in combinations that reduce competition.
“New South”
belief in the technologically advanced industrial South
Alexander Graham Bell
telephone and telegraph
Thomas Alva Edison
Light Bulb
Stalwarts
A part of the republican party favored high tariffs, hard money, and the spoils system (democrats)
Half-Breeds
Liked reform
Presidents 19-25
- Rutherford B. hayes
- James A. Garfield
- Chester A. Arthur
- Grover Cleveland
- Benjamin Harrison
- Grover Cleveland
- William McKinley
Pendleton Act
Made it so that a President / person in political office can NOT put his buddies in political positions. (Testing put in place)
Civil Service Commission
to select employees of federal government on merit rather than relationships.
Interstate Commerce Act
The first government attempt to regulate business. (1887) required railroads to charge fair rates and to publish those shipping rates.
Sherman Anti-Trust Act
An 1890 law that banned the formation of trusts and monopolies in the United States
McKinley Tariff
US Government’s Attempt of stopping all trade / business w foreign counrties.
~1890- Protective tariff which raised the tax on foreign products to a peacetime high of over 48%
Knights of Labor (KOL)
Secret Society in factory that led boycotts.
American Federation of Labor
A group that splintered off of the KOL. Led by Samuel Gompers.
~Acceptance of 8 hour work day
Samuel Gompers
Led and founded the American Federation of Labor
Haymarket Riot, Homestead Strike, and Pullman Strike
Labor unrests that left dozens of people dead or injured. All led to NO CHANGE!!
Eugene V. Debs
Leader of the Pullman Strike which consisted of the workers taking full freight train cars off of the tracks to stop supplements of those products across US. Becomes a MAJOR SOCIALIST after reading Carnegie’s book.
Injunction
judicial order forcing a person or group to refrain from doing something.
Socialism
A system in which society, usually in the form of the government, owns and controls the means of production.
Grange
An association formed by farmers to make life better for farmers by sharing information about crops, prices, and supplies
Populist Party
was a revolt by farmers in the South and Midwest against the Democratic and Republican Parties for ignoring their interests and difficulties.
William Jennings Bryan
Democrat who runs for President multiple times, FAILS every single time.