Chapter 16

Front 1

Cornelius Vanderbilt

Back 1

an American entrepreneur who built his wealth in shipping and railroads and was the patriarch of the Vanderbilt family and one of the richest Americans in history.

Front 2

New York Central Railroad

Back 2

a railroad operating in the Northeastern United States, headquartered in New York.

Front 3

Federal land Grants 1865-1900

Back 3

High immigration between 1865 & 1900, increased supply of laborers and high demand for industrial jobs made labor cheap.

Front 4

Transcontinental Railroad

Back 4

a contiguous network of railroad trackage that crosses a continental land mass with terminals at different oceans or continental borders.

Front 5

Jay Gould

Back 5

a leading American railroad developer and speculator.

Front 6

Panic of 1893

Back 6

a serious economic depression in the United States that began in that year.

Front 7

J.P. Morgan

Back 7

an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time.

Front 8

Bessemer Process

Back 8

the first inexpensive industrial process for the mass-production of steel from molten pig iron.

Front 9

Andrew Carnegie

Back 9

a Scottish-American industrialist, businessman, entrepreneur and a major philanthropist.

Front 10

Vertical Integration

Back 10

one method of avoiding the hold-up problem.

Front 11

U.S. Steel

Back 11

an integrated steel producer with major production operations in the United States, Canada, and Central Europe.

Front 12

John D. Rockefeller

Back 12

he founded the Standard Oil Company and aggressively ran it until he officially retired in 1897.

Front 13

Standard Oil Trust

Back 13

a predominant American integrated oil producing, transporting, refining, and marketing company.

Front 14

Horizontal Integration

Back 14

a strategy used by a business or corporation that seeks to sell a type of product in numerous markets.

Front 15

Anti Trust Movement

Back 15

requires the United States federal government to investigate and pursue trusts, companies, and organizations suspected of violating the Act.

Front 16

Sherman Antitrust Act 1890

Back 16

It was the first Federal statute to limit cartels and monopolies, and today still forms the basis for most antitrust litigation by the United States federal government.

Front 17

United States v. E.C. Knight

Back 17

was a United States Supreme Court case that limited the government's power to control monopolies.

Front 18

Laissez – Faire Capitalism

Back 18

describes an environment in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, tariffs and enforced monopolies.

Front 19

Adam Smith

Back 19

a Scottish social philosopher and a pioneer of political economy.

Front 20

Gospel of Wealth

Back 20

an essay written by Andrew Carnegie in 1889 that described the responsibility of philanthropy by the new upper class of self-made rich.

Front 21

Transatlantic Cable

Back 21

was the first cable used for telegraph communications laid across the floor of the Atlantic Ocean.

Front 22

Alexander Graham Bell

Back 22

an eminent scientist, inventor, engineer and innovator who is credited with inventing the first practical telephone.

Front 23

Sear Roebuck

Back 23

United States Supreme Court case which limited state law on unfair competition when it prevents the copying of an item that is not covered by a patent.

Front 24

Horatio Alger

Back 24

a prolific 19th-century American author, best known for his many formulaic juvenile novels about impoverished boys and their rise from humble backgrounds to lives of respectable middle-class security and comfort through hard work, determination, courage, and honesty.

Front 25

Railroad Strike of 1877

Back 25

began on July 14 in Martinsburg, West Virginia, United States and ended some 45 days later after it was put down by local and state militias, and federal troops.

Front 26

National Labor union

Back 26

was the first national labor federation in the United States. Founded in 1866 and dissolved in 1873, it paved the way for other organizations, such as the Knights of Labor and the AF of L (American Federation of Labor).

Front 27

Knights of Labor

Back 27

was the largest and one of the most important American labor organizations of the 1880s.

Front 28

Terence V. Powderly

Back 28

was born in Carbondale, Pennsylvania, the son of Irish Catholic immigrants.

Front 29

Haymarket Bombing

Back 29

a demonstration and unrest that took place on Tuesday May 4, 1886, at the Haymarket Square in Chicago.

Front 30

American Federation of Labor

Back 30

one of the first federations of labor unions in the United States.

Front 31

Samuel Gompers

Back 31

an English-born American labor union leader and a key figure in American labor history.

Front 32

Homestead Strike 1894

Back 32

an industrial lockout and strike which began on June 30, 1892, culminating in a battle between strikers and private security agents on July 6, 1892.

Front 33

Eugene V. Debs

Back 33

an American union leader, one of the founding members of the International Labor Union and the Industrial Workers of the World, and several times the candidate of the Socialist Party of America for President of the United States.