Chapter 16 Flashcards
(21 cards)
Vertical Integration
-Company’s avoidance of middlemen by producing its own supplies and providing for distribution of its own
Standard Oil Company
- Founded in 1870 by John D. Rockefeller in Cleveland, Ohio
- grew into the nation’s first industry dominating trust
- Sherman Anti-trust Act 1890 was enacted in part to combat abuses by standard oil
Dawes Act
-law passed in 1887 meant to encourage adoption of white norms among Indians–broke up tribal holdings into small farms for Indian families, with the remainder sold to white purchasers
Interstate Commerce Commission
-Reacting to the US Supreme Court’s ruling in Wabash Railroad vs Illinois (1886) Congress established the ICC to curb abuses in the railroad industry by regulating rates
Social Darwinism
- Application of Charles Darwin’s theory of natural selection to society
- used the concept of “survival of the fittest” to justify class distinctions and to explain poverty
Lochner vs. New York 1905
- decision by Supreme Court overturning a New York law establishing a limit on the number of hours per week bakers could be compelled to work
- “Lochnerism” became a way of describing the liberty of contract jurisprudence, which opposed all governmental intervention in the economy
Knights of Labor
-founded in 1869, the first national union lasted, under the leadership of Terence V. Powderly, only into the 1890s; supplanted by the American Federation of Labor
Social Gospel
- preached by liberal Protestant clergymen in the late nineteenth and early twentieth centuries
- advocated the application of Christian principles to social problems generated by industrialization
Great Upheveal of 1886
-A wave of strikes and labor protests that touched every part of the nation in 1886
Standard Gauge
-A standard distance separating the two tracks adopting in 1886 that allowed for the first time trains of one company to travel on another company’s track
Railroad Timezones
-In 1883, the major rail companies divided the national into four time zones still in use today
“Captains of Industry” vs. “Robber Barons”
-Opposing viewpoints that industrial leaders were either beneficial for the economy or wielded power without any accountability in an unregulated market
Signficance of Frontier in American History
-A lecture given by Frederick Jackson Turner in 1893 arguing that the western frontier had forged the distinctive qualities of American culture: individual freedom, political democracy, and economic mobility
Bonanza Farming
-Farms that covered thousands of acres and employed large numbers of agricultural wage workers
Ghost Dance
-A religious revitalization campaign reminiscent of the pan-Indian movements led by earlier prophets
Greenbacks
-Paper money declared to be legal tender printed by the government
Civil Service Act of 1883
-Established the Civil Service Commission and marked the end of the spoils system
Patrons of Husbandry
-An educational and social organization for farmers founded in 1867
Iron Law of Supply and Demand
-The economic theory that determined wages and prices for goods and services
Liberty of Contract
-The idea that contracts reconciled freedom and authority in the workplace
Great Railroad Strike of 1877
-Interstate strike, crushed by federal troops, which resulted in extensive property damage and many deaths
