20 terms

Chapter 6 Industrialization (No Images)

Key vocabulary terms and concepts regarding the study of Industrialization.
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Edwin L. Drake
Successfully used a steam engine to drill for oil near Titusville, PA. Started an oil boom across Kentucky, Ohio, Illinois, Indiana, and Texas
Bessemer Process
A way to manufacture steel quickly and cheaply by blasting hot air through melted iron to quickly remove impurities.
Thomas Edison
American inventor best known for inventing the electric light bulb, acoustic recording on wax cylinders, and motion pictures.
Christopher Sholes
invented the typewriter in 1867
Alexander Graham Bell
He was an American inventor who was responsible for developing the telephone. This greatly improved communications in the country.
transcontinental railroad
Railroad connecting the west and east coasts of the continental US
George M. Pullman
invented the sleeping cars for trains and built a town to house his workers
Credit Mobilier
(USG) , 1872, This was a fraudulent construction company created to take the profits of the Union Pacific Railroad. Using government funds for the railroad, the Union Pacific directors gave padded construction contracts to Congress members
Interstate Commerce Act
Established the ICC (Interstate Commerce Commission) - monitors the business operation of carriers transporting goods and people between states - created to regulate railroad prices
Union Pacific Railroad
Railroad begun in Omaha, Nebraska and headed west, meeting the Central Pacific Railroad in Promontory Point, Utah, to form the first US transcontinental railroad
Central Pacific Railroad
The California-based railroad company, headed by Leland Stanford, that employed Chinese laborers in building lines across the mountains
Andrew Carnegie
A Scottish-born American industrialist and philanthropist who founded the Carnegie Steel Company in 1892. By 1901, his company dominated the American steel industry.
vertical integration (consolidation)
gaining control of the many different businesses that make up all phases of a product's development
horizontal consolidation
The process of bringing together many firms in the same business to form one large company
Social Darwinism
Applied Darwin's theory of natural selection and "survival of the fittest" to human society -- the poor are poor because they are not as fit to survive. Used as an argument against social reforms to help the poor.
Monopoly
(economics) a market in which there are many buyers but only one seller
John D. Rockefeller
formed Standard Oil Trust and made millions while monopolizing the oil industry
trust
A group of corporations run by a single board of directors
Sherman Antitrust Act
law that made it illegal to create monopolies or trusts that restrained free trade
Horatio Alger
Popular novelist during the Industrial Revolution who wrote "rags to riches" books praising the values of hard work.