1742844471 | Interstate Commerce Act | 1887 Congressional legislation that established the Interstate Commerce Commission, compelled railroads to publish standard rates, and prohibited rebates and pools | 0 | |
1742844472 | vertical integration | the practice perfected by Andrew Carnegie of controlling every step of the industrial production process in order to increase efficiency and limit competition | 1 | |
1742844473 | horizontal integration | the practice perfected by John D. Rockefeller of dominating a particular phase of the production process in order to monopolize a market, often by forming trusts and alliances with other competitors | 2 | |
1742844474 | trust | a mechanism by which one company grants control over its operations, through ownership of its stock, to another company. The Standard Oil Company became known for this practice in the 1870s as it eliminated its competition by taking control of smaller companies | 3 | |
1742844475 | interlocking directorates | 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 | 4 | |
1742844476 | Standard Oil Company | 1870-1911 John D. Rockefeller's company formed in 1870, which came to symbolize the trusts and monopolies of the Gilded Age | 5 | |
1742844477 | Social Darwinists | believers in the idea, popular in the late nineteenth century, that people gained wealth by "survival of the fittest" Therefore the wealthy had simply won a natural competition and owed nothing to the poor and indeed service to the poor would interfere with this organic process | 6 | |
1742844478 | Sherman Anti-Trust Act | 1890 a law that forbade trusts or combinations in business, this was landmark legislation because it was one of the first Congressional attempts to regulate big business for the public good | 7 | |
1742844479 | National Labor Union | 1866-1872 this first national labor organization in U.S. history was founded in 1866 and gained 600,000 members from many parts of the workforce, although it limited the participation of Chinese, women, and blacks. The organization devoted much of its energy to fighting for an eight-hour workday before it dissolved in 1872 | 8 | |
1742844480 | Knights of Labor | The second national labor organization, organized in 1869 as a secret society and opened for public membership in 1881. They were known for their efforts to organize all workers, regardless of skill level, gender, or race | 9 | |
1742844481 | Haymarket Square | 1886 A May Day rally that turned violent when someone threw a bomb into the middle of the meeting, killing several dozen people. Eight anarchists were arrested for conspiracy contributing to the disorder although the evidence linking them to the bombing was thin. Four were executed, one committed suicide, and three were pardoned in 1893 | 10 | |
1742844482 | American Federation of Labor | a national federation of trade unions that included only skilled workers, founded in 1886. Led by Samuel Gompers for nearly four decades, they sought to negotiate with employers for a better kind of capitalism that rewarded workers fairly with better wages, hours, and conditions | 11 | |
1742844483 | closed shop | a union-organizing term that refers to the practice of allowing only unionized employees to work for a particular company the AFL became known for negotiating these agreements with employers, in which the employer would agree not to hire non union workers | 12 | |
1742844484 | Cornelius Vanderbilt | made millions in steamboating, then turned to railroads where he made a fortune of $100 million by offering superior railway service at lower rates, founded Vanderbilt University in Tennessee, first ot unite western railroad with the east | 13 | |
1742844485 | Wabash, St. Louis and Pacific Railroad Company vs. Illinois | 1886 a Supreme Court decision that prohibited states from regulating the railroads because the Constitution grants Congress the power to regulate interstate commerce. As a result, reformers turned their attention to the federal government, which now held sole power to regulate the railroad industry | 14 | |
1742844486 | Alexander Graham Bell | invented the telephone | 15 | |
1742844487 | Thomas Alva Edison | invented the phonograph, mimeograph, he dictaphone, and the moving picture, he is best known for his perfection of the electric lightbulb | 16 | |
1742844488 | Andrew Carnegie | perfected the Bessemer/Kelly Process, used vertical consolidation, Steel, wrote the Gospel of Wealth | 17 | |
1742844489 | John D. Rockefeller | Standard Oil, used horizontal consolidation, perfected the idea of the Trust or large scale business consolidation | 18 | |
1742844490 | Samuel Gompers | head of the American Federation of Labor | 19 | |
1742844491 | Terrence Powderly | head of the Knights of Labor | 20 | |
1742844492 | Eugene Debs | head of the American Railway Union | 21 | |
1742844493 | Horatio Alger | wrote over 100 'rags to riches' stories | 22 | |
1742844494 | Gilded Age | marks the growing entanglement between business and industry | 23 | |
1742844495 | Transcontinental Railroad | Union Pacific- Omaha, Nebraska to west Central Pacific- Sacramento, California to east | 24 | |
1742844496 | Leland Standford | put the last spike in the ground for the Transcontinental Railroad | 25 | |
1742844497 | Great Northern Railroad | railroad that stretched from Minnesota to Washington built by James J. Hill | 26 | |
1742844498 | J. P. Morgan | known for banking, interlocking directorates, consolidated companies | 27 | |
1742844499 | stock watering | inflating the cost of stock | 28 | |
1742844500 | pools | business owners secretly set prices | 29 | |
1742844501 | reasons the Industrial Revolution happened then | 1. Availability of liquid money 2. Abundance of natural resources 3. Massive Immigration 4. Ingenuity (Bell, Edison, etc.) | 30 | |
1742844502 | populus movement | came about by the farmers in the late 1800s to try to make changes in the government | 31 | |
1742844503 | capitalism | a lot of competition is wanted for prices to stay low | 32 | |
1742844504 | textile industry | most of the industrialization in the south, used the cheap labor | 33 | |
1742844505 | Gospel of Wealth | written by Carnegie, the thesis that hard work and perseverance lead to wealth, implying that poverty is a character flaw people have the right to make as much money as they want must give a sizable potion away in philanthropic ways | 34 | |
1742844506 | William Sumner and Herbert Spencer | came up with the idea of Social Darwinism | 35 | |
1742844507 | Great Railroad Strike | 1877 used scab laborers, Hayes sent troops | 36 | |
1742844508 | Homestead Strike | 1892 Carnegie Steel Mill (Pittsburg) ended union organizing in the mills for 40 years | 37 | |
1742844509 | Pullman Strike | 1894 first use of an injunction to stop a strike, Eugene Debs goes to jail | 38 |
Chapter 24 Industry Comes of Age Flashcards
Primary tabs
Need Help?
We hope your visit has been a productive one. If you're having any problems, or would like to give some feedback, we'd love to hear from you.
For general help, questions, and suggestions, try our dedicated support forums.
If you need to contact the Course-Notes.Org web experience team, please use our contact form.
Need Notes?
While we strive to provide the most comprehensive notes for as many high school textbooks as possible, there are certainly going to be some that we miss. Drop us a note and let us know which textbooks you need. Be sure to include which edition of the textbook you are using! If we see enough demand, we'll do whatever we can to get those notes up on the site for you!