40 terms

Chapter 24

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Terms in this set (...)

transcontinental railroad
Completed in 1869 at Promontory, Utah, it linked the eastern railroad system with California's railroad system, revolutionizing transportation in the west
Union Pacific Railroad
A railroad that started in Omaha, and it connected with the Central Pacific Railroad in Promentary Point, UTAH
Central Pacific Railroad
A railroad that started in Sacramento , and connected with the Union Pacific Railroad in Promentary Point, UTAH
JAMES HILL
railroad entrepreneur who built and operated the Great Northern Railroad from St. Paul, Minnesota to Everett, Washington; without any federal grants or subsidies, the Great Northern Railroad made money by shipping goods to Asia, GNR became the most successful transcontinental railroad and the only one that wasn't eventually forced into bankruptcy
greater northern railroad
whatever
pullman palace cars
introduced in the 1860s these were billed as "gorgeous traveling hotels" by some. Others called them "wheeled torture chambers" and potential funeral pyres
standard time
A system adopted in 1918 that divided the US into four time zones. Given to us because of the Railroad system.
stock watering
Originally referring to cattle, term for the practice of railroad promoters exaggerationg the profitability of stocks in excess of its actual value
pools
Agreement between railroads to divide competition. Equalization was achieved by dividing traffic.
wabash v illinois
1886 - Stated that individual states could control trade in their states, but could not regulate railroads coming through them. Congress had exclusive jurisdiction over interstate commerce.
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
interstate commerce commission
Former independent agency of the U.S. government, established in 1887; it was charged with regulating the economics and services of specified carriers engaged in transportation between states. Surface transportation under the it's jurisdiction included railroads, trucking companies, bus lines, freight forwarders, water carriers, oil pipelines, transportation brokers, and express agencies. After his election in 1904, Theodore Roosevelt demonstrated support of progressive reforms by strengthening this.
alexander graham bell
American inventor and educator; his interest in electrical and mechanical devices to aid people with hearing impairments led to the development and patent of the telephone
thomas alva edison
This scientist received more than 1,300 patents for a range of items including the automatic telegraph machine, the phonograph, improvements to the light bulb, a modernized telephone and motion picture equipment.
andrew carnagie
Successful businessman who owned Carnagie Steel company; used vertical integration to create his monopoly
us steel company
Created by JP Morgan and included Carnegie's Steel Co. -largest corporation in the world
vertical integration
An attempt by one company to simultaneously control several related aspects of the media business.
horizontal integration
A technique used by John D. Rockefeller. Horizontal integration is an act of joining or consolidating with ones competitors to create a monopoly. Rockefeller was excellent with using this technique to monopolize certain markets. It is responsible for the majority of his wealth.
john rockefeller
Creator of the Standard Oil Company who made a fortune on it and joined with competing companies in trust agreements that in other words made an amazing monopoly.
trust
A group of corporations run by a single board of directors
jp morgan
An influential banker and businessman who bought and reorganized companies. His US Steel company would buy Carnegie steel and become the largest business in the world in 1901
interlocking directories
The practice of having executives or directors from one company serve on the Board of Directors of another company. J. P. Morgan introduced this practice to eliminate banking competition in the 1890s.
bessemer kelly process
Created by Henry Bessemer and William Kelly. They found a way to convert iron to steel by blowing air onto the iron to eliminate the air pockets. Steel was then allowed to be made.
kerosene
A flammable hydrocarbon oil used as fuel in lamps and heaters
standard oil
Established in 1870, it was a integrated multinational oil corporation lead by Rockefeller
gospel of wealth
This was a book written by Carnegie that described the responsibility of the rich to be philanthropists. This softened the harshness of Social Darwinism as well as promoted the idea of philanthropy.
social darwinism
The application of ideas about evolution and "survival of the fittest" to human societies - particularly as a justification for their imperialist expansion.
new south
After the Civil War, southerners promoted a new vision for a self-sufficient southern economy built on modern capitalist values, industrial growth, and improved transportation. Henry Grady played an important role.
gibson girl
the idealized American girl of the 1890s as pictured by C. D. Gibson
scabs
Stirkebreakers hired by employers as replacement workers when unions went on strike
ironclad oaths
Worker agreement not to join union
YELLOW DOG CONTRACTS
A written contract between employers and employees in which the employees sign an agreement that they will not join a union while working for the company.
NATIONAL LABOR UNION
1866 - established by William Sylvis - wanted 8hr work days, banking reform, and an end to conviction labor - attempt to unite all laborers
knights of labor
1st effort to create National union. Open to everyone but lawyers and bankers. Vague program, no clear goals, weak leadership and organization. Failed
haymarket square
At this location, in May of 1886, a series of events took place that resulted in four dead laborers and a bomb is thrown at the police and one dies then they start firing and six more die. After this, the Knights of Labor were no longer because they were considered to be involved with anarchy. Four are convicted and three are executed.
american federation of labor
1886; founded by Samuel Gompers; sought better wages, hrs, working conditions; skilled laborers, arose out of dissatisfaction with the Knights of Labor, rejected socialist and communist ideas, non-violent.
samuel gompers
He was the creator of the American Federation of Labor. He provided a stable and unified union for skilled workers.
new developments in railroads
Steel Rail, standard gauge, westinghouse brake, pullman cars
monopolies
Corporations that gain complete control of the production of a single good or service.
morgan carnegie conflict
morgan took carnegies shit