Chapter 24: Industry Comes of Age
general vocab for the American Pageant ch. 24
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| an economic system based on private property and free enterprise | ||
| U.S. citizen/intended citizen aquires 160 acres of land by 1) filing application 2) improving land 3) filing for deed of title | ||
| Cornelius Vanderbilt's son. connected Staten Island railway to New York by means of line of ferry boats | ||
| held that best-run business led by most capable people would survive and prosper | ||
| term for notion promoted by many successful businessmen that their massive wealth was a social benefit for all. wealth linked w/responsibility | ||
| author of Wealth Against Commonwealth (charged headlong into Standard Oil Company) | ||
| led by Terence V. Powderly. secret society. sought to include all workers in one big union and campaigned for economic and social reform (includes and codes for safety and health) | ||
| most violent labor-management confrontation to that point in American history. starting signal for an era of strife between workers and owners. | ||
| the doctrine that states that government generally should not intervene in the marketplace | ||
| not monopolist and disliked monopolistic trusts. entered steel business in Pittsburgh and created "Pittsburgh millionaires." 1/4 nation's Bessemer steel. extremely rich and donated a lot of money. | ||
| financed reorganization of railroads, insurance companies, and banks. funded Edison. | ||
| author whose lifelong theme of "rags to respectability" had a profound impact on America in the Gilded Age. | ||
| journalist-reformer. (Looking Backward) book had magnetic appeal. Clubs sprang up and heavily influenced American reform movements near end of century. | ||
| president of the American Railway Union which was responsible for Pullman Strike of 1894. | ||
| one of the first federations of labor unions in the United States. derivative of K.O.L. fought against socialism and the Socialist party. opposed unrestricted immigration from Europe for moral, cultural, and racial reasons | ||
| largely responsible for delaying acceptance of the eight-hour day. event initiated by Knights of Labor (wanted eight-hour day). K.O.L. destroyed. | ||
| set up land for railroad companies | ||
| organized Standard Oil Company of Ohio, attempting to eliminate middlemen and knock out his competitors. controlled 95% of oil refineries | ||
| father of classical economics. (Wealth of Nations) Britain's goal should have been promotion of welfare of individuals, not on national power and prestige | ||
| "Acres of Diamonds" speech. | ||
| wrote Progress and Poverty and focused on the growing population, single tax ideas and the misdistribution of wealth | ||
| the first national labor federation in the United States. sought to bring together all of the national labor organizations in existence | ||
| international. contends that all workers should be united as a class and that the wage system should be abolished. | ||
| union refused to handle Pullman cars and the strike rapidly spread across the country. evident that the Sherman Antitrust Act had been transformed into a weapon to be used against unions, not against the trusts. | ||
| outlawed trusts, monopolies, and other forms of business that restricted trade | ||
| strikebreakers | ||
| lists of agitators of protest sent from employer to employer | ||
| agreements to divide business in given area and share profits. earliest form of combination | ||
| Supreme Court ruled that Sherman Act applied only to trade, not to manufacturing |