Unit 1 Exam Ch. 18 and 19A Flashcards
Andrew Carnegie (good and bad about him)
He was a philanthropist but his employees underpaid, long hours, dangerous conditions.
Famous banker Tycoon
JP Morgan
The start of Big Business/What were those aspects of big business
bureaucracy, large corporations, new technology, capital investments, entrepreneurs.
What was the name of Rockerfeller’s company
Standard Oil Trust
what is nativism?
discrimination by native born of new immigrants/hated them, would steal from them, did not want them to succeed.
Burgess model of population around the city/shape?
centric ring pattern (from inner: CBD central business district, factories, tenements (poor workers), middle class, upper class.)
First skyscraper and when, where?
Home Insurance Bldg, 1885, Chicago
Which reformer wrote “How the Other Half Lives” and when?
Jacob Riis, 1889
Aspects of a bureaucracy
impersonal, hierarchy, rules to follow, multi-levels of management
What city was and is the nation’s transportation hub
Chicago
Explain regional specialization
raw materials in the west sent to industrial complex in the NE.
What is the industrial complex and where
where goods from the west are sent to be processed and traded. In the NE.
What did the new industrial cities offer people
employment opportunities, pools of capital and labor, markets to sell goods.
Who were the “new immigrants”
Foreign born from southern and eastern Europe (jews, pols, russians, italians) - 1901-1910 (discriminated against for darker skin and poor)
What company did Standard Oil Trust eventually become?
Exxon Mobile
what did some people call these new tycoons (slur)
robber barons
What was the new frontier?
The city
Who was the first billionaire and how did he make his fortune?
John D. Rockerfeller/Oil refining (bought many refineries/controlled business by refining)
What is morganization
merging companies for efficiency as condition of lending money. Larger companies and more profits.
What is the second innovation of Andrew Carnegie?
Vertical integration: handle raw materials, manufacturing using Bessemer process, and distribution to railroads. (controlled the whole process/brings price down from 67 to 17 a ton).
How many workers in the US died between 1880-1900
35,000 workers
who were “old immigrants”
From North and Western Europe/from England, Germany, Scandinavia - 1881-1890
First steel tycoon
Andrew Carnegie
First Big Business
Railroads (steam engines)
What became the first billion dollar company? Bought from Carnegie by who, and for how much?
US Steel Company/bought by JP Morgan for $440 mil.
What is the Bessemer process and how efficient was it/who utilized it?
Converts iron into steel-15 minutes to make one rail as opposed to 2 days prior to that? Andrew Carnegie used it.
Years of Northern urbanization
1870-1900
What company became the first monopoly
Standard Oil Trust
When did steel production spike
WWI-1914-military use (battle ships and tanks)
What is the name of the first famous union
AFL (American Federation of Labor)
Who did the American Federation of Labor help
Skilled, native born workers
First Tycoon and what he produced
Cornelius Vanderbilt/Railroad tycoon (1st)
Years of Northern Industrialization
1860-1890
Vanderbilt famous quote
“The public be damned”
