Industrialization

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Cornelius

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New York Central railroad

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Federal land Grants 1865-1900

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federal government supplied half or more of the capital for construction. And the federal government gave railway companies grants of land.

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Transcontinental Railroad

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was a railroad line built in the United States of America between 1863 and 1869 by the Central Pacific Railroad of California and the Union Pacific RailroadThe construction and operation of the line was authorized by the Pacific Railroad Acts of 1862 and 1864 during the American Civil War.

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Jay Gould

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was a leading American railroad developer and speculator successes made him the ninth richest American in history

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Panic of 1893

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a serious economic depression in the United States that began in that year by the collapse of railroad overbuilding and shaky railroad financing which set off a series of bank failures considered the worst depression the United States had ever experienced.

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J.P. Morgan

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American financier, banker and art collector who dominated corporate finance and industrial consolidation arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric

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Bessemer Process

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the first inexpensive industrial process for the mass-production of steel from molten pig iron. inventor Henry Bessemer 1855

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Andrew Carnegie

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a Scottish-American industrialist, businessman, entrepreneur and a major philanthropist. 1870s, he founded the Carnegie Steel Company.the company was the largest and most profitable industrial enterprise in the world

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Vertical Integration

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a style of management control.united through a common owner.Usually each member of the supply chain produces a different product.and the products combine to satisfy a common need

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U.S. Steel

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an integrated steel producer with major production operations

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John D. Rockefeller

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revolutionized the petroleum industry and defined the structure of modern philanthropy.1870, he founded the Standard Oil Company

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Standard Oil Trust

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a predominant American integrated oil producing, transporting, refining, and marketing company.largest oil refiner in the world

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Horizontal Integration

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strategy that seeks to sell a type of product in numerous markets. known as a "buy out" or "take-over".

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Anti Trust Movement

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Sherman Antitrust Act 1890

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

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United States v. E.C. Knight

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

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Laissez – Faire Capitalism

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

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Adam Smith

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a Scottish social philosopher and a pioneer of political economy cited as the father of modern economics and capitalism.
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Gospel of Wealth

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an essay written by Andrew Carnegie in 1889[3] that described the responsibility of philanthropy by the new upper class of self-made rich

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Transatlantic Cable

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first cable used for telegraph communications laid across the floor of the Atlantic Ocean. to deliver a message it now took a matter of minutes by telegraph.

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Alexander Graham Bell

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

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Sear Roebuck

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Horatio Alger

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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

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Railroad Strike of 1877

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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
in response to the cutting of wages for the second time in a year by the Baltimore & Ohio Railroad (B&O). Striking workers would not allow any of the stock to roll

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National Labor union

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the first national labor federation in the United States. Founded in 1866
unsuccessful efforts of labor activists to form a national coalition of local trade unions

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Knights of Labor

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largest and one of the most important American labor organizations of the 1880s
promoted the social and cultural uplift of the workingman, rejected Socialism and radicalism, demanded the eight-hour day, and promoted the producers ethic of republicanism.

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Terence V. Powderly

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highly visible national spokesman for the working man as head of the Knights of Labor
so poorly organized that Powderly had little power.

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Haymarket Bombing

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began as a rally in support of striking workers. An unknown person threw a dynamite bomb at police as they dispersed the public meeting. The bomb blast and ensuing gunfire resulted in the deaths of eight police officers, mostly from friendly fire, and an unknown number of civilians

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American Federation of Labor

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

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Samuel Gompers

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American labor union leader and a key figure in American labor history
founded (AFL)
and served as that organization's president from 1886 to 1894 and from 1895 until his death in 1924

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Homestead Strike 1894

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an industrial lockout and strike
culminating in a battle between strikers and private security agents on July 6, 1892

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Eugene V. Debs

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