Chapter 24 - Industry Comes of Age, 1865-1900

Question 1

Land grants

Answer 1

land given to railroad companies for proposed railroad routes. The land was sectioned off in mile squares, but they chose. In the process, nobody else could use this land. It was a cheap way for the govt. To subsidize other industries indirectly.

Question 2

Union Pacific

Answer 2

the union subsidized building this during the civil war. The credit moblier company “invested” (took millions of dollars) it was a railway that united the country by going across the country

Question 3

Central Pacific

Answer 3

connected to the union pacific and went east, to meet in the middle.

Question 4

Paddies

Answer 4

irish immigrants that worked on the construction of the union pacific.

Question 5

Leland Stanford

Answer 5

-an ex governor who was part of the big four and invested in the central pacific railroad. Used his political connections.

Question 6

The Great Northern

Answer 6

built in 1893, ran from duluth to seattle to north of northern pacific.

Question 7

James J. Hill

Answer 7

built the great northern. His enterprise was motivated by public duty and was well organized.

Question 8

Cornelius Vanderbilt

Answer 8

‘commodore” who offered extremely low railway rates. Helped popularize steel rails.

Question 9

Pullman Cars

Answer 9

luxury train cars introduced in the 1860s, but had reputation for being unsafe

Question 10

Time Zones

Answer 10

created in 1883, which was needed to put railroads on a schedule, effect of a railroad.

Question 11

Jay Gould

Answer 11

famous for being a con man who over exaggerated the value of stocks.

Question 12

Stock Watering

Answer 12

stock promoters would inflate the actual value of their stocks, and sold stocks and bonds way past the value. Which made railroads increase prices to pay back investors

Question 13

Pools

Answer 13

agreement where people of an area to divide business and share profits.

Question 14

Wabash

Answer 14

it was a case that determined individual states couldn’t control commerce between states.

Question 15

Interstate Commerce Commission

Answer 15

required railways to publish their rates publicly and allowed the govt to stop pools and rebates. This place regulated and enforced commerce act

Question 16

Mesabi Range

Answer 16

was a large area of mountains of ore, which was excavated for producing steel

Question 17

Alexander Graham Bell

Answer 17

invented the telephone, a way of mass communication.

Question 18

Thomas Edison

Answer 18

invented phonograph, mimeograph, dictaphone, movies, and lightbulb

Question 19

Andrew Carnegie

Answer 19

created vertical integration. started out poor and worked his way up. He got into the steel industry by eliminating the middle man, worked with 40 other millionaires.

Question 20

John D. Rockefeller

Answer 20

created horizontal integration (allying with others to create a monopoly) also invented and perfected trust

Question 21

J.P. Morgan

Answer 21

created interlocking directorates (took advantage of businessmen by telling them to combine their companies and have his employees on their board)

financed railroads, banks etc. bought out carnegie’s business for 400 mill. Owned united states steel co.

Question 22

Vertical Integration

Answer 22

(owning every stage of production)

Question 23

Horizontal Integration

Answer 23

allying and creating a monopoly by owning smaller companies.

Question 24

Trust

Answer 24

tockholders of smaller companies assign their stocks to the larger company, creating a monopolly

Question 25

Interlocking Directorate

Answer 25

making businesses consolidate and have one company with employees on their boards

Question 26

Heavy Industry

Answer 26

focus on making capital goods rather than consumer goods.

Question 27

Capital Goods

Answer 27

steel and other resources for businesses to consume

Question 28

Consumer Goods

Answer 28

clothes and shoes; goods for the people to consume

Question 29

Bessemer Process

Answer 29

method of making cheap steel by blowing cold air on hot iron and igniting carbon, which removes impurities

Question 30

Kerosene

Answer 30

first major product from the oil industry. It was used to light candles and lamps. Obsolete after lightbulb invention.

Question 31

Social Darwinism

Answer 31

rockefeller used this as an excuse in business, in the world of big business, only the fittest survived.

Question 32

Sherman Anti-Trust Act

Answer 32

attempted to break down big businesses. Didn’t work because it had loopholes, indirectly used to curb unions

Question 33

Scabs

Answer 33

ople that were hired and didnt participate in strikes, they replaced strikers.

Question 34

Lock-out

Answer 34

employers would lock rebellious workers out of the business with the firce of federal troops.

Question 35

Yellow-dog Contract

Answer 35

an agreement signed with a company stating that you will not join a union

Question 36

Black List

Answer 36

list of people who have been known to strike or be rebellious workers, list was shared with other employers.

Question 37

Company Town

Answer 37

a town where the factory and business houses workers and makes them overpay for groceries and other necessities.

Question 38

National Labor Union

Answer 38

est. in 1866, large union of skilled and unskilled workers. They worked for policies that would better the workers quality of life.

Question 39

Knights of Labor

Answer 39

placed the labor union. Est. in 1869 as a secret union. It welcomed everyone.

Question 40

Haymarket Square

Answer 40

chicago police were showing up to a strike, and a dynamite bomb was fired, killing people. It put an end to the knights of labor.

Question 41

American Federation of Labor

Answer 41

the knights of labor got rid of skilled workers and created this (it wasn’t popular)

Question 42

Samuel Gompers

Answer 42

founded the american federation of labor. Had an honest approach to reform.

Question 43

Closed Shop

Answer 43

all union labor

Question 44

Mother Jones

Answer 44

she was a protester in coalfields. SHe preached equality for all workers.

Question 45

Terence Powderly

Answer 45

grand master workman of knights of labor. Dedicated to cooperative commonwealth. Encouraged workers to save money to buy corporations