Industrialization Key Terms

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Cornelius Vanderbilt

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- known by the sobriquet Commodore, was an American entrepreneur

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New York Central

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- known simply as the New York Central in its publicity, was a railroad operating in the Northeastern United States.

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Federal land Grants 1865-1900

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-

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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 Railroad

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Jay Gould

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- a leading American railroad developer and speculator

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Panic of 1893

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- was a serious economic depression in the United States that
began in that year

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J.P. Morgan

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- is a leading financial services firm with global scale and reach.

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Bessemer Process

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

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Andrew Carnegie

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

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Vertical Integration

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- describes a style of management control.

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U.S. Steel

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- headquartered in Pittsburgh is the largest fully integrated steel
producer in the United States

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John D. Rockefeller

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- was an American oil magnate.

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Standard Oil Trust

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- controlled by a small group of families.

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Horizontal Integration

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- describes a type of ownership and control.

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Anti Trust Movement

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- To the average American in the last two decades of the
nineteenth century, economic and political life seemed to be moving out of

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Sherman Antitrust Act 1890

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- was the first measure passed by the U.S. Congress to prohibit trusts.

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United States v. E.C. Knight

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- was 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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- which means that the government leaves the people alone regarding all economic activities. It is the separation of economy and state.

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Adam Smith

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- was a Scottish social philosopher and a pioneer of political economics.

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Gospel of Wealth

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

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Alexander Graham Bell

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

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Sear Roebuck

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- is an American chain of department stores which was founded by Richard Warren Sears and Alvah Curtis Roebuck in the late 19th century.

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Horatio Alger

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- a prolific 19th-century American author, best known for his many formulaic juvenile novels

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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.

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National Labor union

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- was begun at a conference in Baltimore in 1866.

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Knights of Labor

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

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Terence V. Powderly

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

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Haymarket Bombing

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- a demonstration and unrest that took place on Tuesday May 4, 1886, at the Haymarket Square[3] in Chicago.

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

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Homestead Strike 1894

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- 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.

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Eugene V. Debs

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- an American union leader, one of the founding members of the International Labor Union and the Industrial Workers of the World (IWW), and several times the candidate of the Socialist Party of America for President of the United States.[2]