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29 Cards in this Set

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Lelad Stanford
gov of CA 1861-1863. found Central Pacific Railroad Co. pres of Southern Pacific Railroad. rep CA in senate 1885-1893. Stanford University.
James J. Hill
Financier and railroad magnate. Great Northen railroad (b/t Great lakes and Pacific Northwest 1893). "Empire Builder" thru transportation sys. stock markey battle w/ JP morgan ->wall Street panic 1901. worth over $100 mil.
Cornelius Vanderbilt
"Comodore"- shipping interests steamships and railroad empire. pioneer nation's trans sys. $100 mil. Vanderbilt University.
jay Gould
w/ James Fisk. corner gold market 1869 ->Black Friday Sept 24. fortune in the process.
Alexander Graham Bell
scientist. inventor of telephone, educator to deaf. 1st tele in 1876
Thomas edison
phonograph and incandescent light
Andrew Carnegie
Carnegie Steel Corp 1901, joined US Steel Corp. "The Gospel of Wealth" 1889. $ for libraries and public education
John D. Rockefeller
Standard Oil Co in 1870. controlled most of US oil industry. dissolved by Supreme Court in 1911. gave away $550 mil.
J.P. Morgan
most influential and powerful banker of America. power and arrogance of financial capitalism. could provide loans
Terrance Powderly
labor leader. joined Knights of Labor 1874. union reached its height as pres in 1879. 1886 membership reached 700,000. challenged monopolies.
John P. Altgeld
reformer and gov of Illinois. defense of the rights of indiv. against govt power ->unfair crticism. pardoned 3 anarchist leaders of Haymarket Affair 1886, protest Cleveland to send troops to Pullan Strike
Samuel Gompers
labor leader who organized American Federation of Labor (AF of L)in 1886. pres, fought for: higher wages, shorter work hours, freedom for workers, organization of skilled workers on basis of trades and oppposed industrial unions. objected to being allied w. political party. restriction on immigrants
Robber Barons
entrepeneurs who monopolized industries and overcharged the consumer. Carnegie, Rockefeller, and JP Morgan.
horizontal integration
way to control some businesses by monopolizing one necessary part of the business (Rockefeller)
Vertical Integration
process of monopolizing the whole business by controlling all parts from the raw materials to the finished product (Carnegie's Steel)
Stock Watering
practice of inflating claims about the assets and profitability of a company to increase the prices of its stocks and bonds
In a pool, competitors of a certain product agree to raise prices collectively so they can recieve huge profits
Holding Companies
formed in response to Sherman Anti-trust Act. one company owns the majority of stock of a large number of companies
board of directors in one company controls the competing company by being on the other company's board of directors ->eliminating competition. large company owns enough stock in all of its members of the board and then influences them
Interlocking Directories
company places ppl in positions of power to influence the competing companies
Bessemer Process
stregthening iron by forming steel. rid the iron ore of impurities and carbonized iron into steel
Haymarket Affair
violence at Chicago Haymarket Square during McCormick Harvester Machine Company Strike in 1886. labor rally began peacefully, someone threw a bomb and killed 7 police men. 8 anarchists found guilty of riot and murder
Yelow Dog Contracts
comany forces a worker to sign before he can be employed in the company stating that the worker cannot join a union
Collective Bargaining
these are face-to-face negotiations to settle disputes b/t workers and management. each side has an agenda and demands and attempts to acheive a favorable compromise. the union leaders have the power to speak for for the members for their union as a whole.
Strikes, Pickets, boycotts
tools the Union used against the management of a company. refused to work. Pickets- publicize the strike, stop strike breakers. boycott- union asks the public not to buy the company's products.
Closed Shop
company that hires only union members
when a comany blacklists someone, it told other employers that the person was a union member, which prevented him from working after he had been fired.
William Sylvis, National Labor Union
National Labor Union = 1st national union. represented the iron workers who wanted an 8 hour day. union's downfall = involved w/ politics and supporting greenback-Labor Party.
Pullman Strike 1894
began when the Pullman Palace Car Co cut wages for workers. railroad workers respond by refusing to link any Pullman car to a train. govt transported mail on the Pullman cars ->action's a fed offense. Pres Cleveland brought army to end strike and safeguard US mail. $80 mil in damage as mobs on both sides roamed the streets during the strike