Chapter 24 - Industry Comes of Age, 1865-1900 Flashcards Preview

APUSH Chapter Key Terms > Chapter 24 - Industry Comes of Age, 1865-1900 > Flashcards

Flashcards in Chapter 24 - Industry Comes of Age, 1865-1900 Deck (45)
Loading flashcards...
1

Land grants

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.

2

Union Pacific

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

3

Central Pacific

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

4

Paddies

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

5

Leland Stanford

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

6

The Great Northern

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

7

James J. Hill

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

8

Cornelius Vanderbilt

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

9

Pullman Cars

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

10

Time Zones

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

11

Jay Gould

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

12

Stock Watering

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

13

Pools

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

14

Wabash

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

15

Interstate Commerce Commission

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

16

Mesabi Range

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

17

Alexander Graham Bell

invented the telephone, a way of mass communication.

18

Thomas Edison

invented phonograph, mimeograph, dictaphone, movies, and lightbulb

19

Andrew Carnegie

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.

20

John D. Rockefeller

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

21

J.P. Morgan

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.

22

Vertical Integration

(owning every stage of production)

23

Horizontal Integration

allying and creating a monopoly by owning smaller companies.

24

Trust

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

25

Interlocking Directorate

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

26

Heavy Industry

focus on making capital goods rather than consumer goods.

27

Capital Goods

steel and other resources for businesses to consume

28

Consumer Goods

clothes and shoes; goods for the people to consume

29

Bessemer Process

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

30

Kerosene


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

Decks in APUSH Chapter Key Terms Class (42):