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29 Cards in this Set
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- Back
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Lelad Stanford
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gov of CA 1861-1863. found Central Pacific Railroad Co. pres of Southern Pacific Railroad. rep CA in senate 1885-1893. Stanford University.
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James J. Hill
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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.
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Cornelius Vanderbilt
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"Comodore"- shipping interests steamships and railroad empire. pioneer nation's trans sys. $100 mil. Vanderbilt University.
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jay Gould
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w/ James Fisk. corner gold market 1869 ->Black Friday Sept 24. fortune in the process.
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Alexander Graham Bell
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scientist. inventor of telephone, educator to deaf. 1st tele in 1876
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Thomas edison
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phonograph and incandescent light
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Andrew Carnegie
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Carnegie Steel Corp 1901, joined US Steel Corp. "The Gospel of Wealth" 1889. $ for libraries and public education
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John D. Rockefeller
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Standard Oil Co in 1870. controlled most of US oil industry. dissolved by Supreme Court in 1911. gave away $550 mil.
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J.P. Morgan
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most influential and powerful banker of America. power and arrogance of financial capitalism. could provide loans
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Terrance Powderly
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labor leader. joined Knights of Labor 1874. union reached its height as pres in 1879. 1886 membership reached 700,000. challenged monopolies.
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labor
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John P. Altgeld
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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
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Samuel Gompers
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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
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labor
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Robber Barons
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entrepeneurs who monopolized industries and overcharged the consumer. Carnegie, Rockefeller, and JP Morgan.
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horizontal integration
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way to control some businesses by monopolizing one necessary part of the business (Rockefeller)
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Rockefeller
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Vertical Integration
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process of monopolizing the whole business by controlling all parts from the raw materials to the finished product (Carnegie's Steel)
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Carnegie
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Stock Watering
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practice of inflating claims about the assets and profitability of a company to increase the prices of its stocks and bonds
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Pools
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In a pool, competitors of a certain product agree to raise prices collectively so they can recieve huge profits
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Holding Companies
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formed in response to Sherman Anti-trust Act. one company owns the majority of stock of a large number of companies
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Trusts
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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
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Interlocking Directories
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company places ppl in positions of power to influence the competing companies
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Bessemer Process
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stregthening iron by forming steel. rid the iron ore of impurities and carbonized iron into steel
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Haymarket Affair
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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
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Yelow Dog Contracts
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comany forces a worker to sign before he can be employed in the company stating that the worker cannot join a union
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Collective Bargaining
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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.
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Strikes, Pickets, boycotts
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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.
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Closed Shop
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company that hires only union members
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Blacklisted
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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.
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William Sylvis, National Labor Union
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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.
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Pullman Strike 1894
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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
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