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26 Cards in this Set
- Front
- Back
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Jay Gould
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Entreprepreneur of the Union Pacfic Railroad. Had to get huge land grants to keep railroads going.
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Interstate Commerce Act
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A five-member interstate commerce commission (ICC) . Established to oversee the practices of interstate railroads. This banned monopolic activites like pooling, rebates and short dictance rates.
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J. Pierpont Morgan
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Took over the failing railroad. Reorganized the systems and rebuild the railroad industry.
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Andrew Carnegie
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Rags to Riches. Took over western railroads. Vertical integration of Steel. Very Rich. Philanthrpoist.
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Vertical Integration
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Cotrolling all aspects of mnaufacturing, from raw materials, to selling the product.
(mining, melting ore) |
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John D. Rockefeller
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Head of Standard Oil Company.
Horzontal integration. Gave money to charity. |
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Standard Oil Trust
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created by rockefeller to block out competion. made stockholders get trust certificate.
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Sherman Anti-Trust Act
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outlawed trudtd and any other monopolies that fixed prices in restraint of trade and slapped violators with fines up to 5G and a year in jail. proposed by Sen. John Sherman
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Thomas Edison
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made the lightbulb and phonograph. over 1000patents
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Horatio Alger
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wrote in Ragged Dick. wrote about rags to riches stories. promoter of social darwinism
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William H. Sylvis
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Started by joing molders together. Started the National Labor Union.
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National Labor Union
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Banned all workers together. Started 8 hour days, 8 hour for sleep, 8 hours for personal affairs. Stopped convict labor and made a federal group for labor. After Sylvid died the group fell apart.
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Knights of Labor
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Led By Uriah Stephens. Secret but open to everyone but doctors, stockholders, lawyers, bankers, gamblers, liquor dealers. Call for equality in rights, wages, and no child or convict labor.
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Terence V. Powderly
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push the knights of labor.
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Chinese Exculsion Act
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a ten year moratoriam on chinese immigration
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American Federation of Labor
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replaced the Knights. led by sam. gomper
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Sam Gomper
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Led American Federation of Labor. Wanted: higher wages and reduce hours.
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Homestead Strike
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mangers and cut wages and locker doors. workers tried to revolt and it didn't work. Then the Guard came in and the mill went back into service.
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Eugene V. Debs
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led the American Railway Union. got put in jail for being such a rebel. had workers refuse to pull pullman cars
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Mary Harris Jones (Mother Jones)
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Urged coal miners to join United Mine Workers of American. She staged parades, had wives stockpile food, and showed importance of mothers. Wage reducitons and no major companies came from this.
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William Graham Sumner
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Book- What Socail Classes OWE to Each Other. began social darwinism. thought- individual should be free to compete without intervetnion.
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Social Darwinism
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ecomonmic life controlled by natural law od competition. coincided with Smith's Law of Supply and Demand. evolution and natural selection.
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Henry George
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Progress and Poverty. said that wealth could be got by a single tax. by taxing land that was neither developed or improved.
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Henry Ford
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pioneer of automobile industry.
used unterchangeable parts and an assembly line. improve work retention , higer wages, and 8 hour work day |
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Negative of having big biz
"robber barrons" |
-drove out small companies
- exploited workers -cut corners - bribed officals -overcharged -polluted and had waste |
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Postive of Big Biz
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-invention and new tech
-lowerd product price - improved quailty of life - gave lot to charitys |
