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33 Cards in this Set
- Front
- Back
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Cornelius Vanderbilt
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A wealthy American entrepreneur that invested in shipping and railroads. he was also able to help along the steamboat.
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New York Central Railroad
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Vanderbilt himself helped to further along the establishment of the railroad. he acquired territory in New York trough the Hudson river. It runs through mostly the northeast and runs out west towards michigan and Illinois.
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Federal Land Grants 1865-1900
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The Laissez Faire economic system helped to boom the railroad industry during this time and the government geared themselves into giving the railroad companies the land they would need to produce.
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Transcontinental Railroad
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The railroad that ran the whole span of America and had stops all over the US.
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Jay Gould
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He was a railroad developer who was infamous for his skimming of money from the railroad funds and becoming extremely wealthy.
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Panic of 1893
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It was in the wake of the collapse of railroad overbuilding and shaky railroad financing which set off bank failures.
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J. P. Morgan
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He was an American banker and financier who was very much in control of corporate finance and industrial consolidation. He merged companies to form ones such s General Electric and US Steel Corporation. He was also a great supporter and funder of the Progressive Era.
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Bessemer Process
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One of the first industrial processes used to take impurities from pig iron named after its patented creator Henry Bessemer.
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Andrew Carnegie
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Starting off as an immigrant from Scotland he worked as any young man would but quickly grew in the ranks to owning his own steel company and having investment sin many products. He quickly became richer and he used this money to fund schools, and music halls and all sorts of establishments that were named after him.
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Vertical Integration
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Andrew Carnegie brought this type of management about. it is the ownership of all the companies that come together to fulfill a common need for the people
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U. S. Steel
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The merger made by J. P. Morgan that took many of Americas steel industries including Carnegie's and made them into one corporation.
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John D. Rockefeller
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Seen as the richest man in American History he was a philanthropist and investor. His main source of wealth was his Standard Oil Company which he ran until 1897. the last 40 year of his life he spent using his money toward philanthropy and the bettering of American standing.
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Standard Oil Trust
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The company owned and operated by John D. Rockefeller. they had lawful practices but were known for squelching the competition easily.
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Horizontal Integration
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This is much more common in business as it is the buying out of other firms with the same product and merging them with your own.
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Anti Trust Movement
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body of laws that prohibits anti-competitive behavior also known as the US antitrust law. They are intended to encourage competition in the marketplace.
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Sherman Antitrust Act 1890
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It required the US to investigate any companies or corporations that were suspected of violating the act.
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United States v. E. C. Knight
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It was a supreme court case that eventually limited the governments power to control monopolies and it was first addressed by the Sherman Antitrust Act.
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Laissez- Faire Capitalism
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Inspired by Alexander Hamilton who proposed the idea of a government sponsored bank. It has to do with the freedom of transactions from state intervention.
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Adam Smith
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He was a Scottish social philosopher and created the well-known work The Wealth of Nations that became the first modern work of economics.
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Gospel of Wealth
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An essay written by Andrew Carnegie that was a description of the responsibility that comes with philanthropy and the upper-class of self made richness.
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Transatlantic Cable
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Also known as the Atlantic Telegraph Company was formed in 1856 to exploit the commercial telegraph as the first telecommunications link.
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Alexander Graham Bell
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Invented and patented the telephone in 1876
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Sear Roebuck
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The founders of the the department store Sears founded by Richard Warren Sears and Alvah Curtis Roebuck. Began the idea of American chains of depart. stores.
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Horatio Alger
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An American author that was famous for his rags to respectability stories that were usually geared towards younger boys.
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Railroad Strike 1877
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The strike was against a second cut of pay of workers and they refused to work. the militia refused to resort to violence and federal army men were sent in. after 45 days the strike subsided.
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National Labor Union
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Founded in 1866 but dissolved in 1873 as the first labor federation in the US, ed by William H. Sylvis. sought to bring the laborers together.
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Knights of Labor
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Was the largest and most important labor union in the 81880's. Its most important leader was Terence Powderly. Promoted the uplift of the working man.
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Terence V. Powderly
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One of the most influential leaders of the Knights of Labor. he promoted the giving of honor to the working man.
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Haymarket Bombing
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Took place on May 4, 1886 at Haymarket Square in Chicago, It was a strike for the rallying workers but some unknown person threw a bomb police began shooting and many people were killed. 8 other men were tried for the case but none were determined as the bomber.
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American Federation of Labor
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The AFL was another very influential labor union in the US that took up speed after the Knights dispersed. Most significant president was Samuel Gompers who was elected every year except once until his death.
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Samuel Gompers
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Most significant leader of the American Federation of Labor. President almost every year until his death.
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Homestead Strike 1894
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Was an industrial lockout and strike. it was a battle between strikers and private security agents. it was at the Homestead Steel Works company in Pittsburgh. Happened as a result of a 22% wage decrease.
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Eugene V. Debs
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Was an American union leader. One of the the Founders of the IWW and International Labor Union. He was a a presidential and influential man when it came to unions and this made him one of the best-known socialists in the US
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