Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
|
Morrill Tariff
|
1862
Provided a generous grant of public lands to the states for support of education. |
|
|
Standard Oil Corporation
|
1871
John Rockefeller's consolidation of previously competing smaller oil refineries, example of horizontal integration. |
|
|
Credit Mobilier
|
1872
Created by Union Pacific Railroad insiders, was a construction company that hired themselves at inflated prices. Distributed shares of valuable stock to key congressmen to keep quiet. |
|
|
"Crime of '73"
|
1873
Term coined (hahaa) by westerners, debtors, silver miners: Congress banned the coinage of silver all together. ("Crime" b/c debtors want silver in circulation. Also, shortly after, numerous new silver discoveries shot silver prices down.) |
|
|
Panic of 1873
|
1873
During Ulysses Grant's presidency. Caused by overproduction (market was weak), banks had made loans that were now not payable b/c of a lack of incoming profit. Resulted in hard times for debtors; push for inflation by use of paper money and silver |
|
|
Whiskey Ring Scandal
|
1874-1875
During Ulysses Grant's presidency. Stealing excise tax revenues (on whiskey) from the Treasury. Thieves include government officials. |
|
|
Resumption Act
|
1875
Passed during Ulysses Grant's presidency. Pledged the government to further withdraw greenbacks from circulation. Also pledged the redemption of all remaining paper money in gold at face value. |
|
|
Bell's Telephone
|
1876
Alexander Graham Bell's invention of the telephone which created new communication network and created jobs for women. |
|
|
Edison's Light bulb
|
1879
Thomas Edison's invention of the light bulb resulted in transformed sleep habits and less sleep. |
|
|
Pendleton Act
|
1883
In response to Pres. Garfield's assassination, which provoke politicians into reforming the spoils system. Outlawed compulsory contributions from federal employees. ($ for cabinet selection) Established the Civil Service Commission to appoint fed. jobs based on examinations rather than personal preference. |
|
|
Interstate Commerce Act (and ICC)
|
1887
Attempt to regulate the railroad monopoly, and 1 year after the Wabash Case (denied individual states the right to reg. interstate commerce.) Prohibited pools (agreements to share and divide profits btwn cooperations) and rebates, discrimination agst shippers. Required railroads to publish their rates. Established the ICC (Interstate Commerce Commission) to administer and enforce the legislation. |
|
|
Sherman Anti-Trust Act
|
1890
Attempt to control monopolies. Forbade combination in restraint of trade. The original intent failed because the law had lots of loopholes for clever cooperations to wiggle through (haha.) Prosecutions were neither vigorous nor successful. Trusts continued to form. Rather, it was used to curb labor unions that were deemed to be restraining trade. |
|
|
McKinley Tariff Act
|
1890
Raised tariffs of foreign goods (highest yet during peace time- 48.4%). Angered the already much indebted farmers, who were selling unprotected in a competitive market. Caused loss of Republican support in the 1890 congressional elections |
|
|
William Bryan's "Cross of Gold" Speech
|
1896
In the 1896 election, William Bryan, the Dem. nominee, made a speech to the Dem. delegates at the convention which delivered a plea for silver. "We will answer their demands for a fold standard by saying to them: '... you shall not crucify mankind upon a cross of gold.'" |
