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55 Cards in this Set

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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
as companies grew many companies began to ______________.
consolidate (join together)
To win or keep business, big railroads secretly offered _________________ to their largest customers.
rebate (also known as a discount)
railroad business men tried to end competition (competitive prices). To end this they formed a_______ of companies.
pool ( several companies got together)
These companies in the pool were all in a particular area. They agreed to _______ ____ ________ ________ ________ ________and ___ ______ _____ ______
divide their customers(business) evenly between them

set one price but it would be high.
true or false

the importance of railroads became clear during the civil war
.
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
the last major cross-country railroad line was the new york central, which was finished in 1893.
false
true or false

competition to win railroad customers was especially firce in the West
.
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.
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
true or false

more than any other development, the American railroad made possible the rapid growth of INDUSTRY after 1865.
true
What was the last the name of the last transcontinental railroad built.
Great Northern Railway
WHO BUILT THE LAST TRANSCONTINENTAL RAILWAY
james hill
How did the railroad boom affect small factories?
It fueled the growth of industry
how did railroads fuel economy and industry
railroads needed rails(tracks) this created more jobs
what kind of jobs were created
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
Why was it less risky to be a stockholder instead of an owner of a private business?
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.
who was the most powerful banker of the late 1800's
J. PIERMONT MORGAN
What role did banks play in the growth of industry?
Corporations borrowed millions of dollars from banks. this helped industry grow and at the same time the banks made large profits.
HOW DID RAILROADS REDUCE COMPETITION.
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
HOW DID JOHN D. ROCKEFELLER GET RID OF COMPETITION IN THE OIL INDUSTRY.
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.
WHAT IS PRICE COMPETITION?
WHEN THE OIL COMPANIES WERE IN COMPETITION ONE COMPANY WOULD TRY AND REDUCE THEIR PRICE TO GET MORE CUSTOMERS.
WHAT ELSE DID ROCKEFELLER DO TO GET RID OF OTHER COMPANIES THAT TRIED TO COMPETE WITH HIM.
HE LOWERED HIS PRICES AND TOOK BUSINESS AWAY FROM THE OTHER COMPANIES. THIS WOULD PUT OTHER COMPAnies out of business.
Who was the person who completed the laying of the underwater transatlantic telegraph cable.
cyrus field
What did this underwater cable do.
It helped to bring Europe and the United States together
who was the inventor of the telephone
Alexander Graham Bell
Who invented the light bulb, the phonograph and hundreds of other devices
Thomas Edison
Thomas Edison was also known as
Wizard of Menlo Park
What is a method of production in which workers add parts to a product as it moves past them
Assembly line
Who invented the assembly line
Henry Ford
What is a group of corporations run by a single board of directors
a trust
That means that single board of directors has control of many corporations
.
The Standard oil Co. created a monopoly. what does that mean?
the standard oil co trust owned or controlled all the business of the oil industry.
what is a monopoly?
when a trust owns or controls most or all of the business of a particular industry.
The government had to control giant corporations also known as monopolies. what did it do?
congress passedthe Sherman ANtitrust Act which banned the formation of trusts and monopolies.
When Henry Ford Started the assembly line large quantities of a product were made quickly and cheaply. This production was called.
mass production
the invention of the _________ in 1868 changed office work
typewriter
in 1888 _________introduced the lightweight Kodak camera
George Eastman
Who introduced refrigeration to the meat industry
Gustavus Swift
Who invented a machine that could perform almost all the steps in shoemaking
Jan Matzeliger
Who tested a flying machine at kitty hawk, north carolina
the wright brothers
The ________ speeded up the pace of business even more than the telegraph had.
telephone
____________ invented the automatic engine-oiling machine
Elijah McCoy
labor union formed in 1869
knights of labor
president of the knights of labor elected in 1879
terence powderly
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
what is a strikebreaker
someone hired to work in the place of the person striking
a court order to do or not to do something
injunction
union organized by garment workers in 1900
international ladies garment workers
a union formed by Samuel Gompers in 1886
afl
what were some of the hazards of working in a factory in the late 1800's
fire, heat, cold
when workers organized or banded together to win better working conditions this was called a _______
union
Where was the oil first discovered
in 1859 in pennsylvania
Who started the first auto plant with an assembly line
Henry Ford - he was the one who invented the assembly line