Test 4 (Industrial Revolution) Flashcards
2 resources of revolution
Oil
Steel
Who used steam engines to drill for oil?
Edwin Drake
Invented Direct Current electricity
Thomas Edison (also light bulb)
Invented typewriter
Christopher Sholes
what brought new workers?
Immigration
What increased population density
Immigration
What increased trade across cities
Railroads
Who invented compressed air brakes
Operated an AC power plant
George Westinghouse
Describe the Credit Mobilier Scandal
Union Pacific Railroad formed the Credit Mobilier Contatrunction company bribed congressmen with shares to approve federal subsidies for cost of construction
Union of farmers that fought railroads to lower shipping prices
The Grange
The Interstate Commerce Act
Government gains more control of railroads
Laissez-faire
Let the people do as they chose
Less government regulations
Competition at free market
Used vertical integration and owned almost entire steel industry
Andrew Carnegie
Owned standard oil. Monopoly. Formed trust. Used horizontal integration
John D Rockefeller
Trust
Several companies turn stock into one group of trustees who work as one mega company
Three negative aspects of big businesses
Too much power in hands of too few men
Once monopoly formed-prices skyrocket
Mistreated workers
Oligarchy
Too much power in hands of too few
3 causes of second industrial revolution
Large supply of natural resources
New inventions
Growing cities
What did Samuel Gompers do?
Formed American Federation of Labor
A union that used strikes and collective bargaining