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| one of the 4 chief financial backers of the enterprise (the Big Four) he operated through 2 construction companies. | ||
| There was a total of 5 transcontinental railroads built: completed in 1893 by him | ||
| The railroad was his enterprise. | ||
| It entailed forcing a cow to bloat itself with water before it was weighed for sale. This technique enabled railroad stock promoters to inflate their claims about a given line's assets and profitability and sell stocks and bonds in excess of the railroad's actual value. | ||
| agreements to divide the business in a given area and share the profits, were the earliest form of combinations. | ||
| organized agrarian groups | ||
| that individual states had no power to regulate interstate commerce. | ||
| It prohibited rebates and pools, required the railroads to publish their rates openly, forbade unfair discrimination against shippers, and outlawed charging more for a short trip than for a long one over the same line. | ||
| The telephone was created by him in 1876. This invention revolutionized the way Americans communicated | ||
| invented numerous devices; the most well-known is his perfection of the electric light bulb in 1879. | ||
| Carnegie used this tactic to combine all phases of manufacturing into one organization. He and his business controlled every aspect of production, from mining to marketing. His goal was to improve efficiency. | ||
| entailed allying with competitors to monopolize a given market. This tactic of creating trusts was used by Rockefeller. | ||
| a group of separate companies that are placed under the control of a single managing bored. The standard oil companies allied and combined creating one company. | ||
| John D. Rockefeller organized this Company of Ohio in 1870, attempting to eliminate the middlemen and knock out his competitors. By 1877, he controlled 95% of all the oil refineries in the nation. Rockefeller grew to such a great power by eliminating his competitors. | ||
| an industrial process for making steel using a Bessemer converter to blast air through through molten iron and thus burning the excess carbon and impurities | ||
| not a monopolist and actually disliked monopolistic trusts. He entered the steel business in the Pittsburgh area and created an organization with about 40 | ||
| Had made a legendary reputation for himself and his Wall Street banking house by financing the reorganization of railroads, insurance companies, and banks, He did not believe that "money power" was dangerous | ||
| Morgan expanded his industrial empire and created this. It was America's first billion-dollar corporation. | ||
| rganized the Standard Oil Company of Ohio in 1870, attempting to eliminate the middlemen and knock out his competitors | ||
| A social application of Charles Darwin's biological theory of evolution by natural selection, this late-nineteenth century theory encouraged the notion of human competition and opposed intervention in the natural human order. | ||
| The Act forbade combination in restraint of trade without any distinction between "good" trusts and "bad" trusts. The law proved ineffective because it contained legal loopholes and it made all large trusts suffer, not just bad ones. | ||
| 1st effort to create National union. Open to everyone but lawyers and bankers | ||
| Labor After the National Labor Union pretty much died out in 1877 they took over | ||
| his riot was a direct result of the extreme tensions between laborers and the wealthy business owners. The McCormick Reaper Company was on strike, 4 people had just been killed, tensions were high, and anarchists showed up and began speaking at the rally attended mainly by immigrant workers in May 1886 at Haymarket Square. | ||
| was founded in 1886 and was led by Samuel Gompers. | ||
| founded the american federation of labor | ||
| landless farmers who had to hand over to the landlord a large portion of their crops to cover the cost of rent, seed, tools, and other supplies. |
