Chapter/Packet 22 Flashcards
(47 cards)
Wabash, St. Louis & Pacific Railroad Company v. Illinois
also known as the Wabash Case, was a Supreme Court decision that severely limited the rights of states to control or impede interstate commerce. It led to the creation of the Interstate Commerce Commission.
Interstate commerce act
a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. The Act required that railroad rates be “reasonable and just,” but did not empower the government to fix specific rates.
Vertical Integration
the combination in one firm of two or more stages of production normally operated by separate firms.
Horizontal Intergation
a business strategy in which one company grows its operations at the same level in an industry.
Standard Oil Company
was an American oil production, transportation, refining, and marketing company that operated from 1870 to 1911.
Interlocking directorates
refers to the practice of members of a corporate board of directors serving on the boards of multiple corporations. A person that sits on multiple boards is known as a multiple director.
Bessemer Process
was the first inexpensive industrial process for the mass production of steel from molten pig iron before the development of the open hearth furnace. The key principle is removal of impurities from the iron by oxidation with air being blown through the molten iron.
Social Darwinist
believe in “survival of the fittest”—the idea that certain people become powerful in society because they are innately better. Social Darwinism has been used to justify imperialism, racism, eugenics and social inequality at various times over the past century and a half.
Sherman Anti-Trust Act
is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce. It was passed by Congress and is named for Senator John Sherman, its principal author.
National Labor Organization
a political-action movement that from 1866 to 1873 sought to improve working conditions through legislative reform rather than through collective bargaining.
Knights of labor
a union founded in 1869. The Knights pressed for the eight-hour work day for laborers, and embraced a vision of a society in which workers, not capitalists, would own the industries in which they labored. The Knights also sought to end child labor and convict labor.
Haymarket Square
also known as the Haymarket massacre, the Haymarket riot, the Haymarket Square riot, or the Haymarket Incident, was the aftermath of a bombing that took place at a labor demonstration on May 4, 1886, at Haymarket Square in Chicago, Illinois, United States.
American Federation of Labor
was a national federation of labor unions in the United States that continues today as the AFL–CIO. It was founded in Columbus, Ohio, in 1886 by an alliance of craft unions eager to provide mutual support and disappointed in the Knights of Labor.
Closed Shops
a place of work where all employees must belong to an agreed trade union.
Abraham Lincoln
was an American lawyer, politician, and statesman who served as the 16th president of the United States from 1861 until his assassination in 1865.
Grover Cleveland
was an American lawyer and politician who served as the 22nd and 24th president of the United States from 1885 to 1889 and from 1893 to 1897. Cleveland is the only president in American history to serve two non-consecutive terms in office.
Transcontinental Railroad
North America’s first transcontinental railroad was a 1,911-mile continuous railroad line constructed between 1863 and 1869 that connected the existing eastern U.S. rail network at Council Bluffs, Iowa, with the Pacific coast at the Oakland Long Wharf on San Francisco Bay.
Union Pacific Railroad
legally Union Pacific Railroad Company and often called simply Union Pacific, is a freight-hauling railroad that operates 8,300 locomotives over 32,200 miles routes in 23 U.S. states west of Chicago and New Orleans.
Central Pacific Railroad
was a rail company chartered by U.S. Congress in 1862 to build a railroad eastwards from Sacramento, California, to complete the western part of the “First transcontinental railroad” in North America.
Leland Stanford
was an American industrialist and politician. A member of the Republican Party, he served as the 8th governor of California from 1862 to 1863 and represented California in the United States Senate from 1885 until his death in 1893.
Collis P Huntington
American railroad magnate who promoted the Central Pacific Railroad’s extension across the West, making possible the first transcontinental railroad in 1869.
James Hill
was a Canadian-American railroad director. He was the chief executive officer of a family of lines headed by the Great Northern Railway, which served a substantial area of the Upper Midwest, the northern Great Plains, and Pacific Northwest.
Northern Pacific Railroad
played a pivotal role in the development of railroads in Seattle and in the Puget Sound region. The company’s decision to locate its Western terminus in Tacoma ignited Seattle’s indignation and brought the city together to form its own railroad company, the Seattle & Walla Walla.
Atchison, Topeka
Cyrus K. Holliday envisioned a railroad that would run from Kansas to the Pacific, increasing the commerce and prosperity of the nation. With farsighted investors and shrewd management, the Atchison, Topeka and Santa Fe Railway grew from Holliday’s idea into a model of the modern, rapid, and efficient railroad.
