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AP US History: Chapter 18 Flashcards

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11310695559Second Industrial RevolutionSteel, chemicals, electricity. This is the name for the new wave of more heavy industrialization starting around the 1860s; new technology & factory system (cheap labor); mass production; consolidation of power0
11310695560Jay GouldAmerican financier and railroad developer1
11310695561Robber BaronRefers to the industrialists or big business owners who gained huge profits by paying their employees extremely low wages. They also drove their competitors out of business by selling their products cheaper than it cost to produce it. Then when they controlled the market, they hiked prices high above original price.2
11310695562Interstate Commerce Act1887 law passed to regulate railroad and other interstate businesses3
11310695563Hepburn ActThis 1906 law used the Interstate Commerce Commission to regulate the maximum charge that railroads to place on shipping goods.4
11310695564J.P. MorganBanker who buys out Carnegie Steel and renames it to U.S. Steel.5
11310695565Andrew CarnegieScottish-born immigrant who started as clerk at PA Railroad; focused on Steel production for a growing nation (railroads and skyscrapers); Carnegie Steel dominated the American steel industry; also a philanthropist (money for libraries and universities)6
11310695566Henry Bessemerrevolutionized the way to manufacture steel by making the process quicker and more efficient7
11310695567vertical integrationPractice where a single company controls the entire process of a product, from the raw materials to distribution8
11310695568John D. RockefellerWealthy owner of Standard Oil Company; used ruthless tactics to eliminate other businesses. Built trusts and used money to influence government.9
11310695569Standard Oil TrustRockefeller's company, in 1881, owned 90 percent of the oil refinery business10
11310695570horizontal consolidationA form of monopoly that occurs when one person or company gains control of one aspect of an entire industry or manufacturing process11
11310695571TrustA group of corporations run by a single board of directors12
11310695572Sherman Anti-Trust ActFirst federal action against monopolies; failed to clearly define a "trust"; Supreme Court interpreted it to favor Big Business; initially misused against labor unions; T. Roosevelt later used it to break up some monopolies13
11310695573Holding CompanyA company whose primary business is owning a controlling share of stock in other companies.14
11310695574Thomas EdisonAmerican inventor best known for inventing the electric light bulb, acoustic recording on wax cylinders, and motion pictures; invention factory at Menlo Park15
11310695575New South Creedidea that promoted industry, diversification of agriculture, white and black cooperation, need for new men to lead South, need for harmonious relations with the North16
11310695576Cheap LaborChild labor was common (mines, textile mills, sweatshops); immigrant labor; Women (young farm women who migrated to cities and immigrant daughters)17
11310695577Horatio Alger19th-century American author, best known for his many formulaic juvenile novels about impoverished boys and their rise from humble backgrounds to lives of middle-class security and comfort through hard work, determination, courage, and honesty.18
11310695578Struggles of Union OrganizationSignificant divisions between skilled and unskilled labor; ethnic and religious tensions among workers; Public and Govt viewed Unions as radical (socialism or communism)19
11310695579National Labor Union1866 - established by William Sylvis - wanted 8hr work days, banking reform, and an end to conviction labor - attempt to unite all laborers20
11310695580Knights of LaborLed by Terence V. Powderly; open-membership policy extending to unskilled, semiskilled, women, African-Americans, immigrants; goal was to create a cooperative society between in which labor owned the industries in which they worked; also promoted social reforms (temperance)21
11310695581Chinese Exclusion Act(1882) Denied any additional Chinese laborers to enter the country while allowing students and merchants to immigrate. American workers felt threatened by the job competition.22
11310695582American Federation of LaborLed by Samuel Gompers; alliance of skilled workers in craft unions; focus was bread-and butter issues such as higher wages, shorter hours, and better working conditions23
113106955831877 Railroad Strikerail workers strike in response to layoffs and poor conditions, leads to serious riot; federal govt sent in army to break the strike24
11310695584Yellow Dog contractsContracts that force employees to agree not to join a union or participate in any union activity as a condition of employment25
11310695585Haymarket RiotRally was being held for striking workers, a bomb was hurled toward police officials, and police opened fire on the demonstrators; numerous policemen and demonstrators were killed and wounded; response in nation's press was very anti-union.26
11310695586Homestead StrikeBattle among strikers and Carnegie's Pinkerton detectives in 1892; Carnegie's reputation damaged by strike27
11310695587Pullman Strikein Chicago, Pullman cut wages but refused to lower rents in the "company town", Eugene Debs had American Railway Union refuse to use Pullman cars, federal troops sent in to break strike28
11310695588Eugene DebsLeader of the American Railway Union, he voted to aid workers in the Pullman strike. He was jailed for six months29
11310695589Mother JonesLabor activist who was a member of the Knights of Labor union and organized strikes and protests to create awareness of the plight of mine workers and child laborers.30
11310695590United Mine Workerslabor union formed in 1890 to represent coal miners31
11310695591Adam SmithScottish economist who wrote the Wealth of Nations; laissez-faire capitalism32
11310695592Gospel of WealthThe idea that wealth is God-given and that those who have wealth are obligated to carry out projects of civic philanthropy for the benefit of society; written by Andrew Carnegie33
11310695593William Graham SumnerHe was an advocate of Social Darwinism claiming that the rich were a result of natural selection and benefits society. He, like many others promoted the belief of Social Darwinism which justified the rich being rich, and poor being poor.34
11310695594Social Darwinism"surival of the fittest" justifies the competition of laissez-faire capitalism and imperialist policies.35
11310695595Looking Backward1888—written by Edward Bellamy; utopian novel that described the world of the future where poverty and corrupt politics were unknown; socialism in the future36

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