Ch.24 Industry

Question 0

What improvements did he make to his railroad that greatly increased ridership on his NY central line because of safety (Cornelius Vanderbilt)

Answer 0

Steel rail-safer and could bear a heavier load

Standard gauge of track width-made the building of RR cheaper

Question 1

How did the federal govt support transcontinental railroad building in the late 19th century?

Answer 1

Sold land to railroads for cheap rates and held onto land until railroads knew exactly what acres to take; generous federal loans to RR companies

Question 2

George Westinghouse

Answer 2

Westinghouse airbrakes

No longer had brakemen which was a very dangerous job

Question 3

What three railroad inventions made traveling safer and more convenient

Answer 3

Telegraph-communication between different railroad lines
Double tracking
Block signal

Question 4

Analyze the impact of the railroad industry in the industrialization of the United States

Answer 4

Created a huge national market for goods
Increased the steel industry
Stimulated mining and agriculture 
Helped cities
Increased immigration

Question 5

Stock watering

Answer 5

Used by railroad monopolies
Selling stocks for more then they’re worth
Cattle watering

Question 6

Pooling

Answer 6

Share business in a certain area and divide the profits

Question 7

Other methods used by railroad monopolies

Answer 7

Bought people in public life
Bribed judges
Changed prices based on competition on certain rail lines

Question 8

Three railroad tycoons

Answer 8

Cornelius Vanderbilt
George Westinghouse
George Pullman

Question 9

Who were the Grangers

Answer 9

Organized agrarian groups of Midwestern farmers who wanted to stop becoming bankrupt by railroad

Question 10

Wasbash case

Answer 10

1886

States couldn’t regulate interstate trade

Question 11

Interstate commerce act

Answer 11

1887

• prohibited rebutes and pools
• required railroads to publish rates openly
• forbade unfair discrimination against shippers
• created the ICC
• stabilized the railroads
• 1st large scale attempt by Washington to regulate a business

Question 12

Sherman antitrust act

Answer 12

1890

• Forbade combinations in “restraint of trade”
• Crime was bigness of trusts not badness
• The law had no power to be enforced and there were legal loopholes
• The law became more useful beginning in 1914

Question 13

Vertical integration

Answer 13

Carnegie and steel

Owned all the steps in the steel making process

Question 14

Horizontal integration

Answer 14

Rockefeller and oil

Allied with competitors to monopolize a given market

Question 15

Interlocking directorates

Answer 15

JP Morgan -banking

Would consolidate rival businesses and place his directors on their various boards of directors

Question 16

Consolidation leads to efficiency

Answer 16

If one business owns lots of the market they can have cheaper prices because they are so massive

Question 17

Gospel of wealth

Answer 17

Carnegie

Stated that the wealthy were entrusted with riches and had to be morally responsible

Question 18

Survival of the fittest

Answer 18

Herbert Specer and William Graham

“Social Darwinism”

Question 19

How did industrialists use the 14th amendment to stop litigation against their companies while at the same time using the Sherman Anti-trust act to stop labor strikes

Answer 19

Set corporations as people and that because of that they couldn’t get their property taken away

Question 20

Other than sharecropping and some tobacco production, characterize a typical “textile mill” town

Answer 20

Textile mills introduced industry into the south; cheap labor by “hillbillies”
Blacks had the most menial jobs

Question 21

List the ways that a company could keep its labor force in line working for cheap forces

Answer 21

More workers than jobs
Workers=dispensable
Could import strikebreakers
Employ thugs to break up labor organizers
Could use federal courts
Could bring in troops 
"Lockout" rebellious workers

Question 22

National labor union

Answer 22

1866
600,000 members
Skilled, unskilled, and farmers (no women, Chinese, or blacks)
8 hour workday

Question 23

Knights of Labor

Answer 23

1869 
90,000 members included all people
Wanted codes for safety and health, 8hr day, 
Terrence V Powderly 
Successful strike against Jay Gould

Question 24

American Federation of Labor

Answer 24

1886 
Samuel Gompers
Better wages, hours, working conditions
Skilled workers only
FEDERATION-massive war chest of funds

Question 25

Haymarket Square Riot

Answer 25

1886
Labor disorders had broken out and suddenly a bomb went off killing several people
Set off by anarchists
But labor unions are blamed and turned many people off of unions