The American Pageant, 12th Edition: Ch. 24 Key Terms Flashcards

1169691724	transcontinental railroad	known as the "ultimate goal"- a railroad from the east coast to west coast.
1169691725	Union Pacific Railroad	Commissioned by Congress to build from Omaha, NE to CA.
1169691726	Credit Mobilier	A railroad construction company that scandaled millions of dollars out of the federal government.
1169691727	Central Pacific Railroad	Built eastward from CA to NE.
1169691728	Northern Pacific Railroad	Stretched form Lake Superior to Puget Sound. Completed in 1883.
1169691729	Atchison, Topeka, and Santa Fe Railroads	Stretched through the southwestern deserts of CA, completed in 1884.
1169691730	Southern Pacific	Railroad that stretched from New Orleans to San Francisco, completed in 1884.
1169691731	Great Northern	Stretched from Duluth, MN to Seattle, WA. Completed in 1893. Last part of the transcontinental railroad.
1169691732	Pullman Palace Cars	luxury passenger cars- introduced the idea of "trains" transporting people.
1169691733	Pools	an agreement to divide business in a given area and divide the profits.
1169691734	Rebates	A cheap, discounted rate for big and frequent companies, which led to expensive rates for small companies.
1169691735	Free Passes	Given to members of the press to ensure good publicity. A.K.A, a free train ride.
1169691736	Interstate Commerce Act	1. Outlawed rebates and pools. 2. Banned charging low rates for big companies and large rates for small companies.
1169691737	Alexander Grahm Bell	Invented the telephone
1169691738	Thomas Edison	Invented the light bulb as well as many other things. The light bulb led to longer working hours.
1169691739	Andrew Carnegie	"Sultan of Steel". Owned the U.S. Steel Corporation. Used vertical integration to grow business.
1169691740	U.S. Steel Corporation	Run by Andrew Carnegie.
1169691741	Vertical Integration	buying smaller companies so as to eliminate the "middlemen" from business to increase profits.
1169691742	John D. Rockefeller	Standard Oil Company. Used Interlocking directorates. He controlled 90-95% of all oil in the U.S.
1169691743	Standard Oil Company	Owned by John D. Rockefeller
1169691744	Interlocking Directorates	Sending your own company's men to be on the board of directors for a competitive company to make decisions in your favor.
1169691745	J.P. Morgan	A financier who used interlocking directorates in struggling companies and controlled them as one unit. Eventually bailed out the U.S. government.
1169691746	Bessemer Process	burned off the impurities and made it stronger and cheaper.
1169691747	Internal Combustion Engine	Saved the oil business just as the electric light bulb became popular.
1169691748	Gospel of Wealth	the rich had the moral duty to spread the wealth
1169691749	Social Darwinism	the reason certain people were at the top was because they were best adapted at running that industry.
1169691750	Plutocracy	rule by the few and rich
1169691751	Sherman Anti-Trust Act	An attempt to outlaw trusts or monopolies. Forbade: 1. Pools/cartels. 2. Interlocking directorates. 3. Holding companies. Lacked the ability to prove 1, 2, & 3 and lacked enforcement.
1169691752	holding companies	a holding company bought large, controlling shares of stock of competitors and managed them as one "mega-company".
1169691753	"combinations"	pools/cartels, interlocking directorates, and holding companies
1169691754	Gibson Girl	Painted an attractive, stylish and athletic woman active outside the home. Idealized as the "New Woman".
1169691755	National Labor Union	(1886) Lasted 6 years, had 600,000 members- skilled and unskilled. Ruined by depression of 1873.
1169691756	Knights of Labor	Became public in 1881. Welcomed skilled, unskilled, women, and blacks. Ruined by the Haymarket Square Incident.
1169691757	American Foundation of Labor	Comprised of small, independent unions. Sought: better wages, shorter hours, and better working conditions. Only made up of skilled craftsmen.