Vocab Unit 6.1 Flashcards
Silver Money - Bland Allison Act
Law that required the U.S. Treasury to buy silver and mint it into silver dollars. The US reinstated the silver dollar as legal currency
Patronage
Act of providing support, financial aid, or other benefits to an individual or organization in exchange for loyalty, political support, or personal gain.
Omaha Platform
Federal loans system so that farmers could get the money they needed. The platform also called for the elimination of private banks.
Populist Party
Party represents the interests of farmers and laborers against the elites and established political powers. Advocated for bimetallism to increase money supply and direct election of senators to reduce corruption.
William Jennings Bryan- “Cross of Gold”
politician and orator who was the Democratic nominee for president in 1896, known for his support of the Populist agenda and famous for his ‘Cross of Gold’ speech advocating for bimetallism.
Election of 1896- McKinley
McKinley was the first Republican to ever carry Kentucky in a presidential election
Great American Desert
Great Plains region of North America, east of the Rocky Mountains
Buffalo herds
Migrated from Asia and almost became extinct in the 1900s
Cattle drives
Major economic activity in the American West during Westward Expansion
Ocala Platform
platform for economic and political reform
Frederick Jackson Turner
American historian and known for his Frontier Thesis.
Dawes act of 1887
Allowed the President to break up reservation land, which was held by a tribe, into small allotments to be parceled out to individuals
Indian Reorganization Act
law that aimed to improve the conditions of Indigenous people in the United States
Alexander Graham Bell
Invented the telephone, which revolutionized communication
Henry Bessemer
English inventor who developed the Bessemer process, a method for producing steel cheaply and efficiently
Thomas Edison
leader in the development of the electric light bulb, the phonograph, and the motion picture camera. He also improved the telegraph and telephone
Otis Elevator
introduced the first safety passenger elevator at the Crystal Palace Convention in New York City
Mail-order catalogs-Sears
Printed or digital publications that allowed customers to order items by mail or online
Vanderbilt
Vanderbilt built the largest railway system in the United States at the time
Rebates
common pricing tactic used to give buyers a refund or credit after paying the full price for a product or service
Pools
Agreement between competing businesses to limit competition, fix prices, and control market shares
J.Pierpont Morgan-banking
He organized and financed major corporations and railroads in the United States
Interlocking directorates
when a person serves on the boards of multiple companies
Carnegie
Industrialist and philanthropist who led the expansion of the American steel industry
Rockefeller
Industrialist and philanthropist who founded the Standard Oil Company
Trust
Legal arrangement between multiple companies that gave a small group of people the power to control an industry or market
Horizontal integration
Business strategy where companies in the same industry merge or acquire each other
Vertical integration
company controlled multiple stages of production and distribution of a product or service
Laissez-faire
Minimal government intervention in the market
Social Darwinism
People become powerful in society because they are innately better
