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9 - Business, Labor and Politics in the Gilded Age (All)

Terms in this set (71)

Cornelius Vanderbilt
American business leader who made a fortune in the shipping and railroad business in the 1800s. Known as the Commodore, he owned the New York Central Railroad and built New York City's Grand Central Terminal.
Philanthropy
Giving money. For example, Carnegie donated much of his fortune to build libraries around the world.
Andrew Carnegie
Industrialist who monopolized the steel industry.
Pittsburg, Pennsylvania
City in western Pennsylvania that was home to America's steel industry.
Horizontal Integration
A type of monopoly in which one business controls all of one stage of an industry. For example: Carnegie owned all of the steel mills.
Vertical Integration
A type of monopoly in which a business undercuts its competitors by owning a company at each stage of an industry. For example: Carnegie owned mines, ships, railroads, and steel mills.
Henry Clay Frick
Carnegie's to assistant. An industrialist in his own right, he owned the coke mines used to power the Carnegie steel operation.
Carnegie Steel Company
Andrew Carnegie's steel business. Later known as U.S. Steel after it was purchased by J.P. Morgan.
Andrew Mellon
American financier. He was so wealthy he bailed out the U.S. government during financial crisis.
J.P. Morgan
American financier who purchased Carnegie Steel. His businesses were the target of antitrust lawsuits.
U.S. Steel
Name given to Carnegie Steel after it was purchased by J.P. Morgan.
John D. Rockefeller
American industrialist who dominating the oil business. He was the richest man in America.
Titusville, Pennsylvania
Site of the first oil wells in America. Rockefeller got his start refining the oil found here.
Rebate
Money paid back as an incentive. For example, railroad companies gave Rockefeller these in exchange for the exclusive right to ship his oil.
Trust
A legal business entity that owns other companies. Industrialists used these to avoid taxes, laws restricting business practices, and to hide the integration of the many elements of their empires.
Standard Oil Corporation
John D. Rockefeller's petroleum business.
Marshall Field
American industrialist who dominated the department store industry. His chain of stores was based in Chicago, Illinois.
Leland Stanford
Industrialist and politician who made his fortune in California during the Gold Rush. He went on to be president of the Southern Pacific Railroad and Governor of California.
William Clark
Industrialist who dominated the copper mining industry. He was known as the "Copper King."
Captain of Industry
Nickname for the industrialists of the Gilded Age. It alludes to the fact that they led great enterprises and advanced the quality of life for many Americans.
Robber Baron
Derogatory nickname for the industrialists of the Gilded Age. It refers to the unfair business practices they engaged in and their mistreatment of workers.
Ulysses S. Grant
General and hero of the Civil War who became president. Although honest, he was a poor politician. His administration was weakened by the Crédit Mobilier Scandal.
Crédit Mobilier Scandal
Political scandal during Grant's presidency. His aids enriched themselves with the sale of public land.
Rutherford B. Hayes
Republican President elected in 1877 as part of a compromise that ended Reconstruction in the South. His influence was weakened by the circumstances of his election.
James Garfield
Republican president who was assassinated by Charles Guiteau, who was angry that he had not received a government job.
Chester Arthur
Vice-president who ascended to the presidency when James Garfield was assassinated. He signed the Pendleton Civil Service Act which limited the spoils system.
Pendleton Civil Service Act
1883 law limiting the spoils system by requiring that many government employees pass an exam. This helped establish a group of professional government employees outside the influence of politics. It was passed after the assassination of president Garfield by a disgruntled job seeker.
Mayor
The elected chief executive of a city.
Political Machine
A system set up in cities in which elected leaders buy or manipulate votes. They accepted bribes and stole government money. In exchange, they lavished favors on friends who protected and supported them. The most famous was Tammany Hall in New York City.
Boss
Leader of a political machine. The most famous was William Tweed of Tammany Hall in New York City.
Bribe
Money paid to a government official in exchange for a favor. For example, business leaders paid members of congress to pass or not pass certain legislation.
Voter Fraud
Any method of manipulating elections including, voting multiple times, voting in someone else's name, or purposefully not counting some votes.
William "Boss" Tweed
Famous boss of the Tammany Hall political machine.
Tammany Hall
Nickname for Boss Tweed's political machine in New York City.
Thomas Nast
Cartoonist whose drawings criticized Boss Tweed and the Tammany Hall political machine.
The Gospel of Wealth
Article by Andrew Carnegie. In it he argued that making money was noble but that wealthy people should give away their fortunes to the benefit of mankind.
Carnegie Library
Name for libraries built with Andrew Carnegie's financial support. Some are still officially called by this name, such as in Pittsburg, Pennsylvania.
Union
An organization of workers. They work together to negotiate for better pay, hours, working conditions, etc. Sometimes they organize strikes or other forms of protest.
Great Upheaval
Mass strike in 1877 that started in West Virginia but spread as many railroad workers went on strike.
Mass Strike
A strike in which the workers in many locations stop work at the same time. One example was the Great Upheaval in 1877 when nearly all railroad operations in America stopped.
Boycott
When workers convince consumers to not purchase goods from a particular business. If it succeeds, the business owners capitulate to the workers' demands because of the fear of lost revenue.
Sabotage
Purposeful destruction of property as a form of protest.
Lockout
When owners close the doors to their business and refuse to let workers in. It is a way of limiting the power of unions.
Yellow-Dog Contract
An agreement a worker must sign when starting a job agreeing not to join a union.
Scab
A replacement worker hired during a strike.
Picket Line
The line made up of striking workers outside a business. Workers usually carry signs, chant, and try to prevent scabs from entering to take their jobs.
Blacklist
A list of union leaders passed around among business owners. These men and women would not be hired because they might cause problems for the owners.
National Labor Union
Early national union formed in 1866. It failed because the organizers tried to include too many different workers who did not always agree on objectives or strategy.
Knights of Labor
Early successful union formed by Uriah Stephens. They admitted all wage earners including African Americans and women. They grew in popularity but weakened after the Haymarket Square incident in 1886.
Haymarket Square Incident
Sometimes called a riot, it was a labor rally in Chicago in 1886 in which a bomb exploded killing a police officer and injuring many others. Labor leaders were blamed for the violence and it led to reduced public support for unions, and especially for the Knights of Labor.
Samuel Gompers
Founder of the American Federation of Labor
Bread and Butter Issues
Nickname for the basic concerns of works such as better pay, fewer working hours, and safety. In contrast to larger concerns such as racial or gender equality.
American Federation of Labor
Labor union founded by Samuel Gompers in 1886. It was formed by joining smaller unions of skilled workers.
Socialist
A follower of Karl Marx. They believed that workers should share the financial rewards of their labor and companies should be owned collectively.
Eugene Debs
Socialist union leader. He led the Pullman strike and ran unsuccessfully for president as a Socialist Party candidate.
Pullman Strike
Strike by workers at the Pullman Car Company (which built railway cars) in 1894. It turned violent and failed when the government ordered federal troops to end the strike.
Socialist Party
Small political party in America that was popular for a short time in the late 1800s. Eugene Debs led the party and ran for president as its candidate.
Industrial Workers of the World
Socialist political party led by Big Bill Haywood. Nicknamed the Wobblies, they advocated violent overthrow of the government and capitalist system.
William "Big Bill" Haywood
Founder and leader of the International Workers of the World.
Arbitration
A way of solving disputes in which both sides agree to abide by the decision of an outside, non-biased party.
Mark Hanna
President McKinley's campaign manager who disliked Theodore Roosevelt and arranged for his selection as McKinley running mate.
Sherman Anti-Trust Act
1890 law banning business combinations "in restraint of trade." Often used against unions, Theodore Roosevelt used it to take monopolies to court, giving him the nickname "Trustbuster."
Trust Buster
Nickname for President Theodore Roosevelt, referring to the numerous lawsuits he filed against monopolies using the Sherman Anti-Trust Act.
William Howard Taft
Republican president who succeeded Roosevelt. He had previously served as Governor of the Philippines. His presidency did not go well and he lost his bid for reelection after Roosevelt ran as an independent. He later served as Chief Justice of the Supreme Court.
Bull Moose Party
Nickname for the independent party that nominated former president Roosevelt in 1912 after he lost his bid for the Republican nomination.
Election of 1912
Presidential election in which Republican president Taft lost his bid for reelection when Roosevelt ran as an independent. Due to the split in the Republican Party, Democrat Woodrow Wilson won the presidency.
Woodrow Wilson
Democratic president from New Jersey. He was president of Princeton University and governor of New Jersey. He defeated Roosevelt and Taft to win the presidency in 1912 and was president during World War One.
New Freedom
President Wilson's campaign promise. He wanted to reduce tariffs and limit the power of banks and trusts.
Federal Reserve
Government organization charged with maintain a steady overall economy. They control the amount of money printed and in circulation. They also control the interest rates banks pay to borrow money.
Clayton Antitrust Act
1914 law that clarified the Sherman Ant-Trust Act. It was used the president Wilson to continue antitrust court battles.
Federal Trade Commission
Government organization charged with monitoring business activities, especially to limit the creation of monopolies.
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