Unit 5 Test Review Flashcards
(85 cards)
Well-known as an inventor and scientist who invented the telephone in 1876 which impacted communication technology during this period
Alexander Graham Bell
Well-known as an inventor who developed the light bulb and phonograph and improved the early technology of motion pictures
Thomas Edison
His efforts to lower costs and undersell competition made his steel mills the most modern in the world. By 1900, his steel was cheap and it allowed more bridges and skyscrapers to be affordably built. Played major role in steel industry
Andrew Carnegie
He founded the Standard Oil Company in 1870 and ran it until 1897 and remained its largest shareholder. He controlled 90% of all oil in the U.S.
John D. Rockefeller
Served as the 8th governor of California from 1862 to 1863 and represented the state in the U.S. senate from 1885 until 1893. He also founded Stanford university, named after his son
Leland Stanford
One of the most powerful bankers of his era. He financed railroads and organized U.S. steel, general, and other major corporations
J.P. Morgan
The first inexpensive industrial process for the mass production of steel from molten pig iron before the development of the open hearth furnace
Bessemer Process
Used by industrialists like John D. Rockefeller who used it to consolidate the oil industry and eliminate competition. The strategy led to fewer companies controlling larger portions of the market, resulting in higher prices for consumers due to reduced competition
Horizontal Integration
A strategy where the person or business controls the entire supply chain of an industry. It allowed companies to control every step of a products supply chain and gave companies power over prices and competition
Vertical Integration
Socio-political ideology that applied Charles Darwins theory of “survival of the fittest” to human societies, justifying economic inequality and racism
Social Darwinism
Philosophy by industrialist Andrew Carnegie that argued that wealthy individuals had a moral responsibility to use their money to benefit society by funding philanthropy and donation
Gospel of Wealth
A group of companies acting together as one. They were bound by a legal agreement and worked to reduce competition in an industry
Trusts
The head of the Knights of Labor in the late 1880s it became the nation’s first successful trade union organization he put the worker’s needs first for the first time in U.S. history
Terence Powderly
Founded the American federation of labor (AFL) and served as the organizations president from 1886 to 1894 and promoted harmony among different unions
Samuel Gompers
He was an American socialist leader who created the social democratic party of America and received nearly 1 million votes for president while he was imprisoned in jail. In the court case, the court found that he intentionally obstructed the draft and military recruitment.
Eugene Victor Debs
Founded by Samuel Gompers in 1886 and represented only skilled laborers and it was the first attempt in the U.S. to organize a national federation of labor
National Labor Union
Founded as a secret society of tailors in Philadelphia in 1869 and played a key role in the great railroad strike of 1877
Knights of Labor
Founded in Columbus, Ohio, in 1886 by an alliance of craft unions eager to provide mutual support and disappointed in the Knights of Labor
American Federation of Labor
Violent confrontation between police and labour protestors in Chicago that dramatized the labour movements struggle for recognition
Haymarket Riot
A bloody confrontation between workers of Carnegie Steel Company and the hired security guards, ultimately killing people and causing many injuries
Homestead Strike
Widespread railroad strikes and boycott severely disrupted rail traffic in the midwest of the U.S. in 1894
Pullman Strike
A way for farmers, mostly blacks, to get credit before the planting season by borrowing against the value of anticipated harvests.
Crop-lien system
A propaganda term where Henry Grady urged the south to abandon its agrarian economy for a modern economy in factories, mines, and mills
“New South”
American politician who leaned toward agrarian radicalism
James Weaver