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27 terms

APUSH Trusts

STUDY
PLAY
Subsidies
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
Pools
competitors agreed to cooperate if they were one maga company
Rebates
given to large companies allowed them to ship large quantities of goods. good for big companies, bad for small
kickbacks
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
Carnegie
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
Rockefeller
Nearly monopolized oil industry
Kerosene
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
injuction
a warning
Bessemer Process
steel making process... making better work enviorment