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55 Cards in this Set
- Front
- Back
In 1886 the railroads in the south decided they wanted to connect with the north.
Once this was done, the railroads formed a ___________(system of conneced lines |
network
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as companies grew many companies began to ______________.
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consolidate (join together)
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To win or keep business, big railroads secretly offered _________________ to their largest customers.
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rebate (also known as a discount)
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railroad business men tried to end competition (competitive prices). To end this they formed a_______ of companies.
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pool ( several companies got together)
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These companies in the pool were all in a particular area. They agreed to _______ ____ ________ ________ ________ ________and ___ ______ _____ ______
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divide their customers(business) evenly between them
set one price but it would be high. |
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true or false
the importance of railroads became clear during the civil war |
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true or false
Cornelius Vanderbilt, the most powerful railroad baron, headed the drive for consolidation |
.true He bought many railroads and consolidated them. His trains linked new york city to the great lakes
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the last major cross-country railroad line was the new york central, which was finished in 1893.
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false
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true or false
competition to win railroad customers was especially firce in the West |
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true or false
small farmers in the south and west were angered because the railroad barons' use of rebates and pools kept shipping prices low. |
false the use of rebates and pools actually made shipping rates high for farmers. rebates were only given to big companies and pools only benefited the bigger companies.
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true or false
government regulation did not end unfair railroad pricing because railroad barons paid large bribes to keep officials from enforcing the laws. bribes- payments to people in order to act dishonestly |
true
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true or false
more than any other development, the American railroad made possible the rapid growth of INDUSTRY after 1865. |
true
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What was the last the name of the last transcontinental railroad built.
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Great Northern Railway
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WHO BUILT THE LAST TRANSCONTINENTAL RAILWAY
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james hill
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How did the railroad boom affect small factories?
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It fueled the growth of industry
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how did railroads fuel economy and industry
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railroads needed rails(tracks) this created more jobs
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what kind of jobs were created
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steelworkers- turned iron into steel to make tracks for railroads
lumberjacks- cut down forests to supply wood miners- mined for coal to fuel the railroad engines |
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Why was it less risky to be a stockholder instead of an owner of a private business?
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When a private business goes out of business the owners has to pay the debts.
Stockholders own stocks in corporations. When a corporation goes out of business the stockholder does not have to pay the corporation's debt. |
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who was the most powerful banker of the late 1800's
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J. PIERMONT MORGAN
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What role did banks play in the growth of industry?
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Corporations borrowed millions of dollars from banks. this helped industry grow and at the same time the banks made large profits.
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HOW DID RAILROADS REDUCE COMPETITION.
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THEY FORMED POOLS
SEVERAL RAILROAD COMPANIES POOLED TOGETHER AND AGREED TO DIVIDE UP BUSINESS IN AN AREA. THEY ALL AGREED TO FIX THEIR PRICES AT A HIGH LEVEL |
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HOW DID JOHN D. ROCKEFELLER GET RID OF COMPETITION IN THE OIL INDUSTRY.
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HE USED THE MONEY HE MADE FROM HIS REFINERY AND BOUGHT ALL THE OTHER REFINERIES. HE NOW OWNED ALL THE REFINERIES AND THEY WERE CALLED STANDARD OIL COMPANY OF OHIO.
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WHAT IS PRICE COMPETITION?
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WHEN THE OIL COMPANIES WERE IN COMPETITION ONE COMPANY WOULD TRY AND REDUCE THEIR PRICE TO GET MORE CUSTOMERS.
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WHAT ELSE DID ROCKEFELLER DO TO GET RID OF OTHER COMPANIES THAT TRIED TO COMPETE WITH HIM.
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HE LOWERED HIS PRICES AND TOOK BUSINESS AWAY FROM THE OTHER COMPANIES. THIS WOULD PUT OTHER COMPAnies out of business.
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Who was the person who completed the laying of the underwater transatlantic telegraph cable.
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cyrus field
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What did this underwater cable do.
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It helped to bring Europe and the United States together
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who was the inventor of the telephone
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Alexander Graham Bell
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Who invented the light bulb, the phonograph and hundreds of other devices
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Thomas Edison
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Thomas Edison was also known as
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Wizard of Menlo Park
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What is a method of production in which workers add parts to a product as it moves past them
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Assembly line
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Who invented the assembly line
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Henry Ford
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What is a group of corporations run by a single board of directors
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a trust
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That means that single board of directors has control of many corporations
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.
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The Standard oil Co. created a monopoly. what does that mean?
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the standard oil co trust owned or controlled all the business of the oil industry.
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what is a monopoly?
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when a trust owns or controls most or all of the business of a particular industry.
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The government had to control giant corporations also known as monopolies. what did it do?
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congress passedthe Sherman ANtitrust Act which banned the formation of trusts and monopolies.
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When Henry Ford Started the assembly line large quantities of a product were made quickly and cheaply. This production was called.
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mass production
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the invention of the _________ in 1868 changed office work
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typewriter
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in 1888 _________introduced the lightweight Kodak camera
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George Eastman
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Who introduced refrigeration to the meat industry
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Gustavus Swift
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Who invented a machine that could perform almost all the steps in shoemaking
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Jan Matzeliger
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Who tested a flying machine at kitty hawk, north carolina
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the wright brothers
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The ________ speeded up the pace of business even more than the telegraph had.
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telephone
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____________ invented the automatic engine-oiling machine
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Elijah McCoy
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labor union formed in 1869
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knights of labor
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president of the knights of labor elected in 1879
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terence powderly
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during a strike at the mccormick co. strikebreakers and striker broke out in a clas. Four people were killed by police.
The next day there was a protest against the killings what was the name of this protest |
Haymarket Riot
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what is a strikebreaker
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someone hired to work in the place of the person striking
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a court order to do or not to do something
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injunction
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union organized by garment workers in 1900
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international ladies garment workers
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a union formed by Samuel Gompers in 1886
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afl
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what were some of the hazards of working in a factory in the late 1800's
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fire, heat, cold
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when workers organized or banded together to win better working conditions this was called a _______
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union
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Where was the oil first discovered
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in 1859 in pennsylvania
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Who started the first auto plant with an assembly line
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Henry Ford - he was the one who invented the assembly line
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