Unit 17 Flashcards
What are the two simplest forms a business can take?
An individual proprietorship (a small business which belongs to one person) and a partnership (two or more people work together and share the profit and loses)
What is a form of business, run by a board of directors, which can sell stock in the company to investors or stockholders, who put money into the business with the hope of sharing in its profit?
A business corporation
What are the combinations that were used by businesses in the late 1800s?
A pool, trust, holding company, and interlocking directorate
What was the first big industry?
Railroading
In what industries did Cornelius Vanderbilt and John D. Rockefeller create their wealth?
Vanderbilt formed a steamboat company and Rockefeller formed the Standard Oil Company of Ohio
What was the management of investments in successful production companies?
Finance capitalism
Who were three people who pioneered in catalog sales?
Montgomery Ward, and Richard Sears and Alvah Roebuck (they built brick and mortar buildings)
In 1900 what was the average laborer’s work week and annual salary?
59 hours a week and 500 dollars of annual salary
The Molly Maguire were involved with what industry?
Coal miners in Pennsylvania because of the unsafe work conditions there
What were arrangements that took advantage of immigrants by having them work for a particular company so that the company would pay the immigrants way into America?
Contract labor arrangements
With what labor organization was Terence Powderly associated?
The Knights of Labor
Who was convicted of crime after the Haymarket Riot?
Eight anarchists were convicted. Seven were sentenced to death and one was sentenced to 15 years in prison. One of the convicted was a member of the Knights of Labor
What were the two main ways of organizing workers into unions?
Craftsmen preferred to organize by profession, while many other unskilled workers wanted to organize by industry
Where was an important steel strike in 1892?
At a Carnegie steel factory in Homestead, Pennsylvania
Who was the leader of the American Railway Union and what company did it strike in 1894?
Eugene V. Debs; the Pullman Railroad Car company
What group was called the Wobblies?
The Industrial Workers of the World
What was the effect of tenant and sharecropper farming?
It limited economic growth because their workers could not afford to buy the products they helped to produce
How did southern manufacturing change after the war?
Southerners began to build their own mills to produce cotton fabric and the number of mills, railroads, and the use of coal for energy in the South increased
What company did Duke form in 1890?
The American Tobacco Company
What political party controlled the South after Reconstruction?
The Democratic Party
What two terms were used to describe the Democrat political leaders?
Redeemers and Bourbons
From what general areas did the new immigration come?
From Southern and Eastern Europe
What facility in New York Harbor completed in 1892 processed millions of immigrants?
Ellis Island
What nationality was particularly discriminated against?
The Chinese
What innovations helped the construction of taller buildings?
Central boilers that could heat multiple rooms, cast-iron and steel frame construction techniques, and elevators
What were the large, occasional events that attracted millions of visitors and showcased new developments?
Expositions
What English author applied survival of the fittest to society?
Herbert Spencer
Who was a leading American spokesman for Social Darwinism?
William Graham Sumner
Who was a leading proponent of the social gospel?
Walter Rauschenbusch
