Q3 APUSH key terms and people Ch. 24
Terms in this set (18)
A railroad magnate who was involved in the Black Friday scandal in 1869 and later gained control of many of the nation's largest railroads, including the Union Pacific. He became revered and hated for his ability to manipulate railroad stocks for his personal profit and for his ardent resistance to organized labor.
A banker who became a national symbol of the power of the banks during the Gilded Age, he helped all the big businesses of the era consolidate their holdings and ultimately bought Carnegie's steel empire for more than $400 million in 1900. He also helped to bail the U.S. government out of a currency crunch in 1895 when he organized a loan to the government of $65 million in gold. In 1902 his Northern Securities Company became one of the first targets of Teddy Roosevelt's trust-busting crusades, but Roosevelt's 1907 decision to allow a steel merger under his watch showed the limits of Roosevelt's efforts.
A railroad magnate who made millions in steamboating before beginning a business consolidating railroads and eliminating competition in the industry.
The inventor of the telephone, patented in 1876.
The inventor of, among other things, the electric light bulb, the phonograph, the mimeograph, the moving picture, and a machine capable of taking X-rays. Ultimately he held more than one thousand patents for his inventions.
A tycoon who came to dominate the burgeoning steel industry. His company, later named United States Steel, was the biggest corporation in U.S. history in 1901. After he retired, he donated most of his fortune to public libraries, universities, arts organizations, and other charitable causes.
The founder of the Standard Oil Company, he developed the technique of horizontal integration and compelled other oil companies to join the Standard Oil "trust." He became the richest person in the world and the United States' first billionaire. He later became known for his philanthropic support of universities and medical research.
The president of the American Federation of Labor nearly every year from its founding in 1886 until his death in 1924. He was no foe of capitalism but wanted employers to offer workers a fair deal by paying high wages and providing job security.
leader of the Knights of Labor who won several strikes for the eight-hour day. By 1886, his organization was a force to be reckoned with
A May Day rally that turned violent when someone threw a bomb into the middle of the meeting, killing several dozen people. Eight anarchists were arrested for conspiracy contributing to the disorder, although evidence linking them to the bombing was thin. Four were executed, one committed suicide, and three were pardoned in 1893.
National Labor Union
This first national labor organization in U.S. history gained 600,000 members from many parts of the work force, although it limited the participation of Chinese, women, and blacks. The organization devoted much of its energy to fighting for an eight-hour workday before it dissolved in 1872.
American Federation of Labor
A national federation of trade unions that included only skilled workers, founded in 1886. Led by Samuel Gompers for nearly four decades, it sought to negotiate with employers for a better kind of capitalism that rewarded workers fairly with better wages, hours, and conditions. It's membership was almost entirely white and male until the middle of the twentieth century.
It was a farmers' movement involving the affiliation of local farmers to work for their political and economic advantages. successful in regulating the railroads and grain warehouses
A way to manufacture steel quickly and cheaply by blasting hot air through melted iron to quickly remove impurities.
J. P. Morgan and Elbert H. Gary founded U.S. Steel in 1901 (incorporated by combining the steel operations owned by Andrew Carnegie with Gary's Federal Steel Company and several smaller companies
Gospel of Wealth
Essay written by Andrew Carnegie.
-Promoted Social Darwinism
-Wealth among the few was the natural and most efficient result of capitalism
-Great wealth brought responsibility
A vision for a self-sufficient southern economy built on modern capitalist values, industrial growth, and improved transportation.
yellow dog contract
an agreement some companies forced workers to take that forbade them from joining a union. This was a method used to limit the power of unions, thus hampering their development.