chapter 6 Flashcards
Andrew Carnegie
owner of largest steel company
produced more steel than all the favorites in Europe
Bessemer process
injecting air into molten iron to remove carbon and other impurities
CF Dowd
came up with concept of time zones and railroad time
Christopher sholes
invented the typewriter
credit moblier
railroad company formed by officials of the Union Pacific to pocket more profit for themselves
scheme included congressmen and Vice President
Edwin drake
successfully used a steam engine to drill for oil
started oil boom in America
Eugene v debs
formed the American railway Union which focused on unskilled and semiskilled laborers (larger share of profits for working classes)
George Pullman
built a factory and town to produce sleeping cars and other railway cars
granger laws
Series of legislation across the Midwest to protect farmers from abuses by the railroads.
haymaker affair
3,000 people gathered to protest police brutality
bomb was thrown at police. Eight people charged with inciting a riot
public doesn’t like unionism
holding company
did nothing but buy out the stock of competitors
consolidate businesses into one monopoly.
horizontal integration
Buying out competitors (similar products merge)
PRICE
industrial workers of the world
group of radical unionists and socialists
included miners, lumberers, and cannery and dock workers.
interstate commerce act
supervise railroad activity and set rates.
John d Rockefeller
established Standard Oil
largest and most powerful company in America.
company holds other company’s stock in trust agreements to control an industry.
JP morgan
Owner of large investment company
purchased railroads
turned them into giant trusts
mother jones
In order to expose the cruelties of child labor
led 80 mill children on a march to see President Roosevelt.
munn vs Illinois
Supreme Court case
upheld Granger Laws as constitutional
gave the states the right to regulate the railroads.
robber baron
derogatory term applied to wealthy and powerful 19th-century American businessmen
exploitative practices to increase their wealth
Samuel Gompers
Led the Cigar makers union
joined it with the AFL
Sherman antitrust act
Made it illegal to form a trust that interfered with free trade (between states or with other countries.)
social Darwinism
Justifies the doctrine of laissez faire, stipulates that success and failure in business were governed by natural law no one had the right to intervene in business.
steel
suspension bridges and skyscrapers were now possible.
Thomas Alva Edison
Nicknamed the Wizard of Menlo Park, invented the incandescent light bulb and the system for producing and distributing electricity.
