Questions Flashcards
What were the advantages of building the transcontinental railroad?
- Lowered cost
- Aided Trade
- Created new industries
Name and explain four methods that industrialist may have used to dominate their industry.
- Allowed trust/trust companies
- Vertical consolidation
- Horizontal Consolidation
- Economies of Scale
What was built east and west creating Transcontinental Railroad?
East- Central Pacific Railroad
West- Union Pacific
Who created the southern railway system?
Vanderbilt
What was made illegal?
Rebates/kickbacks
Who created the first sleeping car?
George Pullman
Who created air breaks?
Richman
What was America’s first telegraph company?
Western Union
Who made the first trans-atlantic cable
C. Field
Why did the American work forces grow so much in the late 1800s?
- People moved from the farms to the cities
- New immigration
What are the U.S steel cities
Pittsburgh and Birmingham
Who was the leader of the U.S steel industry?
Carnegie
Who created our banking system?
JP. Morgan
Who created standard oil
John Rockefeller
Who were captains of industry?
Robber Barons
