Unit 6 Review Cards Flashcards
pool
one of several ways that business owners tried to control profits; business and profits were divided in a specific area.
interlocking directories
used most often by JP Morgan; board members from Morgan’s company would be placed on other company’s boards and would influence decisions in favor of Morgan’s company
vertical integration
combined all elements of production under one company, from raw materials through final product and distribution, in order to cut costs and eliminate delays
horizontal integration
used most by Rockefeller; he controlled his competition by buying up other companies and either combining them with his company, or shut them down; this created an early form of a monopoly.
Interstate Commerce Act
passed to help regulate railroads and their shipping prices after individual states were unable to pass legislation to regulate them; included the requirements that shipping rates had to be openly and publicly posted, RRs could not charge more for short distances or discriminate against smaller companies
Interstate Commerce Commission
created out of the Interstate Commerce Act; regulatory group who would make sure that all requirements for the ICA were met by RRs
Transcontinental Railroad
approved as part of the Homestead Act in 1862; gov’t provided subsidies to build the railroad out of Omaha, NE, in the form of land grants and tax breaks, but didn’t actually have to pay for the track itself before it was completed. Loans were given to RR companies for each mile of track laid.
Gospel of Weath
endorsed by Carnegie; idea that those who had wealth should be moral responsible in the use of their $$
Sherman Anti-Trust Act
early legislation to try to curb monopolies and prohibit trusts (companies buying up other company’s stock and then trying to manipulate the market to make a profit)
Factors that drew people to cities
- modern conveniences like indoor plumbing and electricity
- nightlife / social scene
- factory jobs
- modern marvels like skyscrapers and suspension bridges
New Immigrants
were primarily from eastern and southern Europe; had different religious views and usually didn’t speak English. They grouped together in urban areas and created pockets of distinct cultural groups (Little Italy, Chinatown). They usually had little experience with democratic gov’t and were immigrating to escape famine and unstable gov’ts at home, along with possible religious persecution (Eastern European Jews)
Old Immigrants
primarily from western and northern Europe; more often they spoke English (but not always), had experience with democratic gov’t and were integrated into American society and cultural much more rapidly than New Immigrants.
settlement houses
provided child care for working immigrants, instruction in English and American customs, lobbied for social reforms. Important reformers with the settlement houses include Jane Addams and Florence Kelley - they advocated for an end to child labor and sweatshops.
Booker T. Washington
Early Civil Rights activist who supported the idea of an educated and economically independent group of African Americans in the US; he promoted self-help, but many felt his views didn’t go far enough, since they did not challenge segregation.
W.E.B. Du Bois
Early Civil Rights activist who demanded more equality for African Americans; his ideas included promoting and educated and talented 1/10th, and he demanded complete equality for African Americans.