Unit 8 Reconstruction & Unit 1 Gilded Age Flashcards
pacific railroad act (1862)
1862 - called for building of the transcontinental railroad across america, connecting california and rest of america
homestead act (1862)
law that allowed congress to grand 160 acres of public land to a western settler who had to live on the land for 5 years to establish title
laissez-faire
theory that opposes government interference in the market/economic affairs beyond what is necessary to protect life and property
tariffs
taxes on imported goods. were set high during gilded age
gilded age
1865-1900. coined by mark twain. america emerges as industrial power, profit/power centralizes in the hands of just a few people
social darwinism
“survival of the fittest” in politics and economics. used by wealthy to justify economic status. william graham sumner was leading American supporter of the theory
horizontal integration (trusts)
monopoly where a company buys out all of its competition. rockefeller
vertical integration
typical mass production approach where company controls all phases of complex production process
tenements
poorly built and overcrowded housing where immigrants lived
new immigration
after 1890, immigrants from south and east europe. alarmed many americans and caused resurgence of nativism
old immigration
before 1890, people came from northern and western europe to settle in north america
chinese exclusion act
1882 law barred chinese laborers from entering US
liberty of contract
judicial concept of late 19th and early 20th centuries where courts overturned laws regulating labor conditions as violations of the economic freedom of employers and employees
homestead strike (1892)
labor dispute at a carnegie steel mill that ended with the PA governor sending in state militia to end the strike
pullman strike (1894)
railroad strike. started when the pullman palace car company cut wages while maintaining high rents. led by eugene v debs and the american railway union. fed courts issued injunctions against strikers. strike ended when prez cleveland called in fed troops.