Ch.18; Sect.1 Flashcards
(18 cards)
Between 1865 and 1900, RR tracks increased from _________ miles to approx. __________ miles.
35,000 miles; 193,000 miles.
American economy experienced unprecedented growth and per capital income rose nearly ________% b/w _______&_________.
50%; 1877;1900.
________ helped immensely by states and the U.S government. Through land grants and $$.
RailRoads.
Period of enormous economic growth.
Gilded Age.
________ known as the “Commodore”; owned the New York central RR.
Cornelius Vanderbilt
________ controlled the Eric Railroad and Western Union telegraph company.
Jay Gould
_____________ made the Air brake for the RR.
George Washington.
_________ Bessemer converter (Mass production of Steel)
Henry Bessemer
___________ dominated the steel industry. U.S steel created from his company; donated over $350 million.
Andrew Carnegie
________ dominated the oil industry, especially refinement; founded standard oil; donated $520 million. He bought independent oil companies to make his company bigger.
John D. Rockefeller.
Heroes:_______
“Captains of industry”
Villains:_________
“Robber barons “
Industrialists created ________ that eliminated competition. Use of rebates, trusts, and holding companies also provided advantages for them.
Monopolies
System in which the corporation gives shares of their stock to trustees who hold the stock ‘in trust’ for their stockholders.
Trust
A deduction from an amount to be paid or a return of part of an amount given in payment.
Rebates
Company or firm that owns other companies outstanding stock.
Holding Company
Inventor of electricity and light.
Thomas Eddison
Inventor of the telephone(1900): AT&T becomes the dominant communication carriers.
Alexander Graham Bell
