Unit 2 Flashcards
*What did Edwin L. Drake do in 1859?
Successfully used steam engine drills for oil
*What was the Bessemer process?
Puts air into iron to remove carbon to make steel
*What did Thomas Alva Edison do in 1876?
Established first research laboratory
*What did Christopher Shores invent in 1867?
The typewriter
*What did Alexander Grahm Bell and Thomas Watson do in 1876?
Introduced the telephone
*What was completed and spanned the nation in 1869?
The first transcontinental railroad
*What did George M. Pullman do in 1880?
Built a railcar factory on Illinois prairie
*The Union Pacific stockholders formed which construction company?
Credit mobilier
*What was Munn v. Illinois?
Supreme Court upholds states’ right to regulate RR
*What did public outrage lead to in 1887?
The interstate Commerce Act
*Who was one of first moguls to make their own fortune?
Andrew Carnegie
*What 2 business strategies did Carnegie come up with? What did they do?
• Vertical integration -buys or suppliers to control materials
•Horizontal integration -merges with competing companies
*What is a social Darwinist
•Someone who believes that cause people are different races that they are a different species than us
•A person who believes in segregation
*What was John D. Rockefeller the founder of?
The Standard Oil Company -also formed trust
*What was the Sherman Autitrust Act?
Trust illegal if interferes with free trade
*What was Samuels Gompers the founder of? And what did it do?
•American Federation of Labor (AFL)
•AFL uses collective bargaining (negotiating) for better wages, hours, and conditions