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APUSH Gilded Age Part 2
Terms in this set (26)
The Union Pacific and Central Pracific companies began in Omaha and Sacramento and met in Promontory Point in Utah to build this.
Advantages of railroads
more direct routes, greater speed, greater safety and comfort, more dependable schedules, a larger volume of traffic, and year-round service
Four Great Trunk Lines
Baltimore and Ohio, Erie Railroad, New York Central Railroad, and Pennslyvania Railroad
Owned New York Central Railroad
Banker who took control of railroad industry through cutting fixed costs, eliminating competition and rebates, and establishing a "voting trust"
Created by Henry Bessemer, it made increased steel production possible by blasting air through molten iron.
A single company owns and controls the entire process from raw materials to the maufacture and sale of the finished product
A Scottish immigrant who grew to monopolize the steel industry through vertical integration, but eventually sold out to JP Morgan
The Gospel of Wealth
Carnegie justified monopolies through social Darwinism and argued that the wealthy had a God-given responsibility to carry out projects of civil philanthropy for the benefit of society
When a single company achieves control of an entire market
A legal concept that allows one person, called a trustee, to manage another person's property.
The joining together of two or more companies or organizations to form one larger one.
A company that owns the stock of companies that produce goods, but doesn't actually produce anything itself
The combining of many firms engaged in the same type of business into one large corporation
John D. Rockefeller
Created the Standard Oil Company through the use of trusts/horizontal integration, vertical integration, hiring scientists, and being thourough and ruthless.
Invented the Kodak Camera and the process for coating gelatin on photographic dry plates
Alexander Graham Bell
Invented the telephone
Thomas Alva Edison
Inventor of the light bulb, phonograph, etc. and owner of the most patents
Knights of Labor
Established by Uriah S. Stephens, platform included an 8 hour work day and abolition of child labor; taken over by Powderly
American Federation of Labor
Loose alliance of national craft unions calling for higher wages, shorter hours, and vetter working conditions; established by Samuel Gompers
Iron Law of Wages
Employers believed supply and demand, not the welfare of workers, dictated wages.
In re Debs and Court Injunction
Forbade workers to interfere with their employers' business and upheld by this court decision
Lochner v. New York
Court struck down a law limiting bakery workers to a 60 hour week and 10 hour day because baking was safer than mining.
Haymarket Square Riot
Workers campaigning for the 8 hour work day in Chicago called for a protest and police intervention led to a bomb being thrown. Americans feared the labor movement and anarchism.
Henry Clay Frick cut wages of steel workers 20% causing AFL affiliates to strike.
Tactics for defeating unions
Lockouts, blacklists, yellow dog contracts (agreement not to join unions), private guards/statemilitias, and court injunctions
THIS SET IS OFTEN IN FOLDERS WITH...
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APUSH - Labor Unions/Laws/Strikes
APUSH Chapter 27 Vocab
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