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money given from gov't to assist industry or business to lower commodity prices

Credit Mobilier

made profits through sneaky deals

stock watering

artificially inflating the value of a company, so it can be bought back cheaper


competitors agreed to cooperate if they were one maga company


given to large companies allowed them to ship large quantities of goods. good for big companies, bad for small


bribes given to gov't officials and major customers

Wabash Case

SC ruled that states cannot regulate interstate trade. only congress can

Interstate Commerce Act

Outlawed rebates and pools...One generic cost for shipping.

Millionaires made

made from holding stock in RR, gained money when industry boomed.

Steel Benefits

cheaper stronger, leading to industrial revolution

Alexander Graham Bell

invented telephone, women to work!

Women to work!

typewriters, and operaters

Thomas Edison

inventor and entrepreneur, invented lightbulb


master of steel industry...owned US Steel Corporation

Efficiency Increase

buy out businesses that were used in production process

Vertical Integration

force out/buy out companies to grow larger


Nearly monopolized oil industry


he lowered prices for kerosene to eliminate candle industry.

Gospel of Wealth

Rich have moral duty to spread wealth

Russel Conwell

rev. who gave sermon (Acres of Diamonds) that said people earn their lots in lie off good or bad

Social Darwinism

survival of the fittest.

14th amendment use

blacks are now citizens, more people, more competition

Sherman Anti-trust act

an attempt to outlaw trusts or monopolies...never worked...too hard to prove who was pools and who wasn't... no enforcement either

Leland Stanford

RR executive

Capital Goods

goods used in producing other goods rather being bought by consumer


a warning

Bessemer Process

steel making process... making better work enviorment

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