Unit 6 MCQ Flashcards
Sherman Silver Act
required the government to purchase 4.5 million ounces of silver every month to mint coins and to back paper currency.
Standard Oil Company
John D. Rockefeller’s company, formed in 1870, which came to symbolize the trusts and monopolies of the Gilded Age.
JP Morgan
a banker who financed the reorganization of railroads, insurance companies, and banks. Funded Edison’s business, and merged steel companies to make the United States Steel Corporation.
Gold Standard Act
Transferred ownership of all monetary gold in the United States to the US Treasury and prohibited the Treasury and financial institutions from redeeming dollars for gold.
Vertical Integration
An expansion strategy where a company takes control over one or more stages in the production or distribution of its products.
Horizontal Integration
the merger of two or more companies that occupy similar levels in the production supply chain
Interstate Commerce Act
addressed the problem of railroad monopolies by setting guidelines for how the railroads could do business.
Boss Tweed
A disgraced American politician who was convicted for stealing millions of dollars from New York City taxpayers through political corruption
Hull House
to assist the poor, combat juvenile delinquency and help immigrants learn to speak English.
Panic of 1893
a national economic crisis set off by the collapse of two of the country’s largest employers, the Philadelphia and Reading Railroad and the National Cordage Company
Andrew Carneige
One of the captains of industry of 19th century America, Andrew Carnegie helped build the formidable American steel industry, a process that turned a poor young man into the richest man in the world.
John D. Rockefeller
He was the founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Rockefeller revolutionized the petroleum industry and defined the structure of modern philanthropy.
Samuel Grompers
Samuel Gompers. is responsible for the formation of one of the first labor unions. The American Federation of Labor worked on getting people better hours and better wages. The formation of this triggered the formation of various others that would come later.
McKinley
The 25th president of the United States serving until his assassination six months into his second term. He led the U.S. to victory in the Spanish-American War, raised protective tariffs that promoted American industry, and maintain the gold standard.
Billion-Dollar Congress
named for its lavish spendings, gave pensions to Civil War veterans, increased government purchases on silver, and passed the McKinley Tariff Act of 1890. The McKinley Tariff Act raised tariffs yet again and brought more troubles to farmers.
Plessy v. Ferguson
U.S. Supreme Court decision supporting the legality of Jim Crow laws that permitted or required separate but equal facilities for blacks and whites
Election of 1880
James Garfield (Republican) defeated Winfield Hancock (Democrat) in the 1880 presidential election. Although Garfield comfortably won the Electoral College vote, he won the popular vote by less than 10,000 votes.
Omaha Platform
political agenda adopted by the populist party in 1892 at their Omaha, Nebraska convention. Called for unlimited coinage of silver (bimetallism), government regulation of railroads and industry, graduated income tax, and a number of election reforms.
Populist Party
the People’s party or the Farmers’ party. It was a political group that gained much support from farmers who turned to them to fight political unfairness.
Grangers
The Granger movement was founded in 1867, by Oliver Hudson Kelley. Its original intent was to bring farmers together to discuss agricultural styles, in an attempt to correct widespread costly and inefficient methods. Kelley promoted his movement all over the country, but it only caught on in the West.