Flashcards in Industrial America, 1865-1900 Deck (35):
Name some reasons what the U.S. economy rapidly grew post Civil War.
1.Plentiful natural resources/raw materials.
2.Abundant labor supply/immigrants.
3.Advanced transportation network.
4.Capital and investment was available.
6.Business friendly government policies.
This was the nation's first big business, which created a market for goods and sparked the growth of other industries like coal and steel. Began the modern stockholder corporation.
This wealthy businessman used his millions to merge local railroads into trunk lines (a major route between large cities).
Western railroads connected which areas, creating one great national market.
Great Plains linked with the West and East
The federal government provided railroad companies with huge federal land grants which led to poor construction and led to widespread corruption in government. What construction company is the best example of this corruption.
These railroads would go across the U.S. and connect the Union with California. Thousands of Irish and Chinese immigrants were used to build these railroads.
This wealthy speculator made millions by buying railroad companies and inflating the value of their stock.
This wealthily banker bought bankrupt railroads and consolidated (merged) them to create railroad companies. This created very powerful men and corporations.
This wealthy individual inherited his father's transportation empire. Customers often felt they were the victims of financial schemes and ruthless business practices.
Early factories in the U.S. produced textiles, clothing, and leather products. During the Second Industrial Revolution (after the Civil War) which industries began to dominate?
Heavy industries: Steel, Oil, Electric Power, Industrial Machinery
This individual founded the Bessemer Process, which was a technological breakthrough when he figured out how to cheaply produce high-quality steel.
This individual was a business genius that worked his way up from being a poor Scottish immigrant to a wealthy entrepreneur. He used vertical integration to control every stage of the industrial process from the raw materials to shipping the product. He bought out his suppliers. Founded U.S. Steel.
This individual drilled the first oil well in 1859.
This individual founded Standard Oil a monopolistic oil trust. He temporarily cut his prices to force his rivals to sell out. Eventually he would control 90% of the oil refinery business. Used horizontal integration, when a business buys out all of its competitors.
John D. Rockefeller
This federal law in 1890 was an attempt to oppose monopolies by prohibiting any contract, trust, or conspiracy in restraint of trade or commerce.
Sherman Antitrust Act (1890)
This economic system is when there is no government regulation of business.
This individual wrote The Wealth of Nations (1776), where he explains that businesses should be regulated, not by the government, but by the "invisible hand" of the law of supply and demand. Competition would provide the regulation. Businesses, on their own, would improve goods and services at low prices.
Herbert Spencer used Charles Darwin's ideas of natural selection and applied survival of the fittest to business. What is the term used to describe Darwin's theory in the business world.
Some Americans found religion more convincing than Social Darwinism to justify great wealth. John D. Rockefeller and Andrew Carnegie used God to explain why they were rich. What is idea called?
Gospel of Wealth
This individual wrote novels about a young man from a poor background that became rich through honesty and hard work. Rags-to-riches story was uncommon.
Most Americans worked 10 hours a day, 6 days a week and barely made enough to support a family. Families depended on the income of who else?
Women and children
Frederick W. Taylor emphasized speed and efficiency in the workplace and eliminated wasted motion. Workers worked like machines. This term is used to describe the scientific management used in factories. Later, assembly lines would be introduced.
Taylorism (scientific management)
Factory work was repetitive and monotonous. Workers began to unite to fight for what three things?
In the 19th century, the country experienced the most violent labor conflicts in the nation's history. Many feared class warfare between which two groups?
Capital and Labor
What were some tactics that employers used to defeat unions?
2.Lockout, close the factory.
3.Blacklists, prounion workers not hired.
4.Yellow-dog contracts, workers agree not to join a union.
5.Private guards/milita to put down strikes.
6.Protrayed unions as un-American
This was the first attempt in 1866 to organize all workers in all states. Skilled and unskilled workers in agriculture and industry. Wanted higher wages and an 8-hour day. Equal rights for women and blacks.
National Labor Union (1866)
This labor union began as a secret society to avoid detection by employers. Terence V. Powderly was the leader and welcomed women, African Americans, immigrants, and the skilled and unskilled. Believed in a cooperative society in which laborers not capitalists owned the industries. (Socialism)
Knights of Labor (1869)
This strike in 1877, was one of the worst outbreaks of labor violence. Railroad workers joined with workers from other industries to strike nationwide. President Hayes used troops to end the labor violence.
Great Railroad Strike (1877)
This violent strike occurred in Chicago in 1886, where 80,000 Knights of Labor gathered to gain an 8-hour day. 200 anarchists also attended and someone threw a bomb, killed 7 police officers. Americans concluded unions were radical and violent.
Haymarket Bombing (1886)
The American Federation of Labor (AFL) was founded by this labor leader. They wanted higher wages and improved working conditions. Made up of skilled workers only. Promoted collective bargaining and rejected the Knights view of workers owning the factories.
This strike occurred at the Homestead Steel plant, because wages were cut by 20 percent. Guards and scabs were used to defeat the workers.
Homestead Strike (1892)
George Pullman built a model company town where his workers lived and built train cars. After Pullman cut wages and fired union leaders, Eugene V. Debs led a boycott of Pullman cars. President Cleveland sent in troops to crush this strike.
Pullman Strike (1894)
This union leader of the American Railroad Union turned to socialism and founded the American Socialist party in 1900.
Eugene V. Debs
This union was similar to the old Knights of Labor union in that they wanted to unite all laborers, including unskilled blacks. They spoke about class conflict, violence, and socialism. These "Wobblies" were involved in many bloody strikes. Collapsed during WWI.
Industrial Workers of the World (IWW)