Unit 6: Important Concepts

Question 1

stock watering

Answer 1

an asset that is artificialy inflated. comes from when railroads would ship cows, they would force them to drink water before weighing to increase their weight and their value at market.

Question 2

horizontal integration

Answer 2

controlling all of one type of business. example would be rockafeller, who controlled nearly all oil refineries.

Question 3

pool

Answer 3

a bunch of people with money, established to manipulate prices

Question 4

trust

Answer 4

a bunch of businesses in the same industry who gather together to manipulate prices.

Question 5

injunction

Answer 5

a legal order against strikes. businesses could get an injunction against strikes to make them illegal.

Question 6

rebate

Answer 6

a refund of some of the money paid

Question 7

interlocking directorate

Answer 7

when people sit on the board of directors for multiple companies, which means they don’t want to mess with other companies that they also get money from.

Question 8

yellow dog contract

Answer 8

a contract that made not joining a union a condition of employment. join a union and get fired.

Question 9

gilded age

Answer 9

the term given to this time period by mark twain, referring to his idea that society really sucked but had a thin layer of gold over the whole thing.

Question 10

cheap money

Answer 10

credit with super low interest

Question 11

hard/sound money

Answer 11

credit given against real estate

Question 12

the bloody shirt

Answer 12

a political technique, associating the opposite side with being un-american

Question 13

evolution

Answer 13

theory that kind of lead to social darwinism. society will work itself out, and whatever happens is exactly what should happen.

Question 14

yellow journalism

Answer 14

journalism without any facts behind it, bad journalism.

Question 15

settlement house

Answer 15

an organization that was trying to get the rich and the poor to live closer together.

Question 16

philanthropy

Answer 16

giving money to charities.

Question 17

land grant

Answer 17

land given by the government, usually due to things like military service.

Question 18

vertical integration

Answer 18

controlling all parts of an industry, from raw resource to retail

Question 19

social gospels

Answer 19

the government should help the poor, socialism

Question 20

gospel of wealth

Answer 20

the poor should just work harder, then they wouldn’t be poor!

Question 21

new south

Answer 21

the south without slavery and stuff, supposed to be way better, a better economy and all that jazz.

Question 22

bessemer process

Answer 22

the processing of pig iron into steel

Question 23

pragmatism

Answer 23

pragmatism the concept that the truth of any idea was to be tested, above all, by its practical consequences

Question 24

nativism

Answer 24

essentially, everyone hates people who immigrate, even though they are immigrants.

Question 25

long drive

Answer 25

running cattle from texas and other great plains areas to the railroad to sell. ended by barbed wire.

Question 26

ghost dance

Answer 26

a dance by the natives that was supposed to get rid of the white men in their land, white people got skittish and it led to the wounded knee massacre, lotsa indians killed.

Question 27

free silver

Answer 27

Movement for using silver in all aspects of currency. Not adopted because all other countries used a gold standard.

Question 28

sixteen to one

Answer 28

Movement for using silver in all aspects of currency. Not adopted because all other countries used a gold standard.