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APUSH > 18 > Flashcards

18 Flashcards

0
Q

What methods did the railroad barons use to compete against each other?

A

Manipulated stock markets

  • inflate value of corporation’s assets/profits before selling to public
  • offer rebates (discounts) and kickbacks to favored shippers, high prices for farmers
  • offered special arrangements for handling bulk goods
  • showered free passes on poiticans
  • cut rates for large shippers
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1
Q

What were the major effects of the railroads?

A
  • market for goods on national scale
  • mass production
  • mass consumption
  • economic specialization
  • promote other industries, coal and steel
  • established time zones
  • creation of modern stock holder corporation and complex structures in finance, business management, and regulation of competition
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2
Q

Explain the government attempts to stop the growth of trusts and monopolies in the late 19th century.

A

attempted to OUTLAW RATE DISCRIMINATION.
initially supported, but negated when Court ruled that states could NOT REGULATE INTERSTATE COMMERCE.
Congress then studied devious railroad practices. Passed Interstate Commerce Act.

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3
Q

What was the Interstate Commerce Act? (ICC)

A

Established to oversee the practices of interstate railraods. Banned monopolistic activity like POOLING, REBATES, AND DISCRIMINATORY SHORT-DISTANCE RATES.

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4
Q

Were the government’s attempts to stop growth of trusts and monopolies effective?

A

Railroads challenged rulings. 15/16 were negated. Nullified ICC’s regulatoriness.

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5
Q

What was the Hepburn Act?

A

Passed in 1906. Strengthened the ICC (Interstate Commerce Act and Commission) by empowering it to SET RATES.

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6
Q

Describe Carnegie.

A
  • Short
  • Born in Scotland, immigrated in 1848 @ age 12
  • father was a skilled handloom weaver
  • started small, grew big
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7
Q

What did the “second Industrial Revolution” mainly focus on?

A

Steel, petroleum, electric power, and industrial machinery to produce other goods.

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8
Q

What is the Bessemer process?

A

blast air through molten iron = high-quality steel

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9
Q

What methods did Andrew Carnegie used to grow his empire?

A

Priced below competition. Lowered production costs by accounting and limiting wage increases to workers. Asked favors from friends. VERTICAL INTEGRATION. New technology combined with management and low wages to create mass-production system that could slash consumer prices. Portrayal of discipline and hard work.

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10
Q

What methods did John D. Rockefeller use to build his empire?

A

Applied latest technologies and efficient practices. Had an ability to understand the inner workings of an entire industry and benefits of vertical integration. Extorted rebates from railroad companies and temp cut prices for Standard Oil to force rival companies to sell out. Wanted no rivals: made a trust. Various companies controlled by Standard Oil and Rockefeller = HORIZONTAL INTEGRATION. The success caused other industries (sugar, tobacco, leather, meat) also organized trusts.

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11
Q

How did the industrial giants maintain control of their indusitries once they were established?

A

They drove out competitors with trusts or by keeping their costs extremely low.

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12
Q

What is an oligopoly?

A

The market condition that exists when the limited number of sellers can greatly influence price and other market factors. Limited number of competitors.

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13
Q

What is the Sherman Anti-Trust Act?

A

Outlawed trusts and any other monopolies that fixed prices in restraint of trade. Gave violators fines of up to 5,000 dollars and a year in jail. FAILED TO DEFINE TRUST OR RESTRAINT OF TRADE.

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14
Q

Why did Standard Oil’s structure change into a holding company when it was challenged?

A

Because a holding company, unlike a trust, which literally owned other buisnesses, a holding company OWNED A CONTROLLING SHARED OF THE STOCK of one or more firms. Made more money than ever.

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15
Q

_______ epitomized the inventive impulse and capacity for creation of new consumer products.

A

Thomas Edison

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16
Q

Describe how major inventions and innovations promoted the spread of business during the industrial era.

A
  • Speed of communication. Morse, railroads. telephone.
  • more consumer demand. Eased household drudgery and social interactions. Combined innovative technology with new methods of advertising and merchandising. Enabled sectors of economy to grow dramatically by adapting to changing fashions/preferences.
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17
Q

What was Edison’s first major invention?

A

Stock quotation printer. Enabled him to set up an invention factory in New Jersey. Made the light bulb. Sued for patent violations. Merged with competitor: GE. (Patent-pooling became another mechanism of market domination).

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18
Q

What were Edison’s-researchers other inventions?

A

Mimeograph, microphone, motion-picture camera and film, and the storage battery.

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19
Q

Why does the successful introduction of new technologies often involve a system of inventions rather than a single invention?

A

In order for one new single invention, other technologies or systems must be created for the possibility of the single invention. For the toilet, water systems and sewage systems had to be made. Machines to manufacture the pipes had to be created. Then the toilet itself.

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20
Q

How did the increase output of US factories/inventions affect the market? (-ing)

A

Created a need for businesses to find ways of selling their merchandise to a large public.

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21
Q

Explain the positives of industrialization.

A

Raised US to a position of world leadership. Social benefits: labor saving products, lower prices, advances in transportation and communication.

22
Q

Explain the negatives of industrialization.

A

Bankruptcy and shattered dreams. American workers with poor conditions and wages. Exploited environment. Brought both bad and good effects.

23
Q

How did the New South Creed come about?

A

Despite limited availability of private capital, southern newspaper editors championed the doctrine that the South’s RICH COAL AND TIMBER RESOURCES + CHEAP LABOR made it a natural site for industrial devlopment.

24
Q

What did southern states offer to attract northern capital?

A
  • Offered tax exemptions for new businesses
  • set up industrial and agricultural expositions
  • leased prison convicts to serve as cheap labor
  • gave tracks of land to railroads&raquo_space;> new towns/villages
  • sold forest and mineral rights&raquo_space; expanded production of iron, sulfur coal, and lumber
25
Q

What contributed to the migration of blacks to the cities?

A

Large-scale recruiters of black workers in the south. Iron and steel mills! Southern industry reflected patterns of racial segregation in southern life. Southern blacks in iron and steel industry on average made more than southern white textile workers.

26
Q

What were the major stumbling blocks for industrialization in the South?

A
  • banking regulations required large reserves
  • scarce capital
  • cautious state govs
  • wartime debts
  • lack of industrial experience
  • control by profit-hungry northern enterprises
27
Q

What impact did the stumbling blocks have on education in the South?

A

Shortage of funds limited resources available for education. Operated segregated schools and refused to tax property for school support. School attendance remained low, limiting # of educated people able to staff technical and managerial positions in business and industry.

28
Q

Explain the contract system.

A

Large companies negotiated an agreement with a subcontractor who took responsibility for employee relations to avoid problems of hiring, managing, and firing their own workers.

29
Q

Describe the hazards to workers.

A

Dangerous factory conditions, workers’ inexperience, rapid pace of production process.

30
Q

What was the theme of Horatio Alger’s novels?

A

The theme was about poor but honest lads who rose through good qualities and self discipling and became rich, mirroring Carnegie.

31
Q

How realistic were Horatio Alger’s novels in terms of late 19th century life?

A

Most likely to those who lied and cheated. Poor vs better educated/financed concerned. Rags to riches was rare. Most industrial leaders had middle- upper-class backgrounds. Different if you were immigrant or not.

32
Q

Why did labor leaders search for ways to create broad-based, national organizations that could protect their members and resist corporate power?

A

The expansion of regional markets and their integration into national and world markets gave industrial leaders unprecedented power to control the workplace.

33
Q

National Labor Union

A

Attempted to organize a mass labor movement that would unite skilled and unskilled workers. Endorsed the eight hour day movement. (8 work, sleep, personal affairs) End to convict labor, establishment of a federal department of labor, and for currency and banking reform. First national union w/ social program: equal rights for women and blacks, monetary reform, and worker cooperatives. Lost support when Sylvis died and depression began and unsuccessful strikes.

34
Q

William Sylvis

A

President of the Iron Molders’ International Union, an organization of iron-foundry workers. Built up his union. Leader of National Labor Union.

35
Q

Knights of Labor

A

Founded by 9 tailors. Second national labor union, kept secret to avoid detection by employers. Went public in 1881 after about 13 years. Opened its membership to all workers, including African Americans and women.
Advocated:
1. worker cooperatives
2. abolition of child labor
3.abolition of trusts and monopolies
Declined when public opinion went against unions (Haymarket riot)

36
Q

Who was the Knights of Labor’s successful leader?

A

Terence V. Powderly

37
Q

Mother Jones

A

Mary Harris Jones, women organizer: recruited thousands of workers to Knights of Labor.

38
Q

Chinese Exclusion Act

A

Worried that immigrants would steal jobs. 2 years after destruction/terrorization of Chinese population, Congress passed the Chinese Exclusion Act. Placed a 10 year moratorium (temp prohibition on activity) on Chinese immigration. Permanent in 1902. Repealed in 1943.

39
Q

American Federation of Labor

A

When craft unions left Knights of Labor to form the American Federation of Labor. An association of 25 craft unions. Concentrated on attaining practical economic goals: raising wages, reducing hours, improved working conditions.

40
Q

Samuel Gompers

A

Jewish-English Immigrant cigar maker. Leader of American Federation of Labor until his death. A master tactician.

41
Q

Railroad Strike of 1877

A

One of the worst outbreaks of labor violence. During an economic depression, when railroad companies cut wages in order to reduce costs. Strike on Baltimore and Ohio Railroad spread across 11 states and shut down 2/3 of country’s trail trackage. Soon became national scale. Used federal troops to end labor violence. 100+ killed. Some employers improved wages/working conditions, others busted workers’ organizations.

42
Q

Yellow-Dog contracts

A

Promise not to strike or join a union.

43
Q

Haymarket Riot

A

Chicago, May Day labor movement. Strike to achieve eight-hour day. Public meeting at Haymarket Square, bomb thrown, killed 7 police officers. Americans concluded union movement was radical and violent. Knights of Labor lost popularity and membership.

44
Q

Homestead Strike

A

Frick cut wages by nearly 20%. Used the weapons of lockout, private guards, and strikebreaks to defeat steelworkers’ walkout. Failure of Homestead strike set back union movement.

45
Q

Pullman Strike

A

Pullman’s workers lived in a lovely town. Slashed wages but rent remained the same. Workers joined American Railway Union and went on strike. Tied up rail transportation across the country. Ended when federal court issued an injunction forbidding interference with the operation of the mails and ordering railroad workers to abandon the boycott + strike. Debs was arrested.

46
Q

Eugene V Debs

A

The SupCourt approved use of court injunctions against strikes, gave employers a powerful weapon to break unions.

47
Q

Laissez-Faire capitalism

A

The idea of government regulation of business was alien to the prevailing economic, scientific, and religious beliefs of the late 19th century. “hands-off” government = should never attempt to control business

48
Q

Pinkertons

A

armed men from the Pinkerton Detective Agency for hire. used to protect plants against union members or stop union members

49
Q

Explain what a conservative Social Darwinist would believe that government should do about poverty and the exploitation of labor.

A

Economic views based on Charles Darwin’s theory of natural selection in biology. Survival of the fittest applied to the marketpalce. Help for the poor was misguided because it interfered with the laws of nature and would only weaken the evolution of the species by preserving the unfit.

50
Q

The Gospel of Wealth

A

Religion more convincing than social Darwinism in justifying the wealth of successful industrialists and bankers. Protestant work ethic = everyone had a dusty to become rich. God-given responsibility to carry out projects of civic philanthropy for the benefit of society.

51
Q

Karl Marx

A

German philosopher and radical agitator rested on the proposition that labor required to produce a commodity was the only measure of that commodity’s value. Insistence on class struggle as the essence of modern history: classless utopia in which the state would wither away and all exploitation would cease.

52
Q

What innovations in technology and business practices helped launch vast increases in industrial production in the post-Civil War period?

A

Technology brought industries up to speed and work more efficiently and brought in workers. The amount of workers need business practices to become organized. Also vertical and horizontal integration to maximize the amount of money earned to increase industrial production.

APUSH (9 decks)

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