Chapter 6: The End Of The Frontier: The United States By 1890 Flashcards
What is laissez-faire?
economic philosophy originating in 18th century France and Britain which became a dominant influence in the growth of capitalism in the late 19th century, it emphasised the importance of market forces and free competition with minimum regulation and state interference
What is social Darwinism?
theory suggesting that in society certain individuals or groups gain wealth and power because they are biologically “superior” to others, used at various times to rationalise racist policies
How did laissez-faire capitalism affect the American economy between 1865-90?
drove forwards the massive expansion of the economy and great American “barons” of business in oil, steel, sugar, railroads etc.
How did laissez-faire capitalism affect ideas surrounding settlement in the West?
closely linked to frontier values of individualism and self reliance, hard work and the US as the “land of opportunity”
How did big businesses eliminate chances of competition?
merging with actual/potential rivals to form monopolies and driving small firms out of business
Give an example of when small businesses were eliminated by a big business
Cornelius Vanderbilt’s consolidation of the New York Central and Hudson River Railroad into an integrated, monopolistic network
Why were the “free markets” of the Gilded Age far from free?
rigged in favour of the large-scale enterprises
-by no means free from state interference- state/federal govt. set tariffs at the levels business wanted, passed laws to approve railroad and banking schemes and turned a blind eye to corruption and malpractice
What was the reaction to the rising power of the railroads and other big business monopolies?
aroused much criticism and opposition as well as demands for state regulation
Why were many state govts. pushed into passing regulatory legislation?
pressure from small farmers e.g. the Granger movement and by trade unions representing industrial workers e.g. Knights of Labour
Why was the regulatory legislation passed ineffective?
-rarely had an impact and was undermined by a conservative judgement by the Supreme Court in favour of the railroad companies
-federal govt. did little to interfere with the dominance of big businesses and Congressmen were widely seen as in the pocket of robber barons and open to bribery and corruption
How many members did the Granger movement have by 1885?
850,000
What did pressure from the Granger Movement result in?
-increased regulation of railroads and firms controlling the storage and distribution of corn and wheat
-lobbying brought about a favourable Supreme Court ruling against the State of Illinois in 1877, but later nullified
Who was Terrence Powderly?
leader of the Knights of Labour from 1873 to 1893 who campaigned hard for introduction of the 8 hour working day and other restrictions on employers
What happened at Haymarket Square in Chicago in May 1866?
peaceful Knights of Labour demonstration turned into a major riot resulting in the deaths of 11 people
When was the American Federation of Labour formed?
1886
When was the Gilded Age by Mark Twain published?
1874
When was Progress and Poverty by Henry George published?
1879
What was the main proposal of Progress and Poverty?
abolishing private land ownership
How many copies of Progress and Poverty were sold?
2 million
Give an example of satirists who published cartoons in criticism of laissez faire politics?
Thomas Keppler in Puck magazine
How many states in the 1880s passed laws aiming to curb cartels and trusts?
27
When was the Interstate Commerce Act passed?
1887
What was the purpose of the Interstate Commerce Act?
to outlaw restrictive momopolies and set up an Interstate Commerce Commission to investigate and regulate railroad companies
When was the Sherman Antitrust Act passed?
1890
