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33 Cards in this Set
- Front
- Back
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Cornelius Vanderbilt
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Who:he was an American entrepreneur.
When:born on May 27, 1794 Sig: was the greatest 19th century railroad barons, wealthiest man in the US, His estate was worth 100 million dollars., built his wealth on railroads, shipping.. |
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New York Central Railroad
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What: was a railroad that went through Northeastern United States.
When:dates of operation 1831–1968 Sig:including extensive trackage in the states of New York, Pennsylvania...connected greater New York and Boston in the east with Chicago and St.Louis |
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Federal land Grants 1865-1900
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What:grant for railroads
When; 1865-1900 Sig:Federal government provided railroad companies with huge subsidies in the form of loans and grants. |
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Transcontinental Railroad
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What
When Sig:Connected California to the rest of the Union. |
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Jay Gould
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Who:Speculator, who went into railroad business for quick profits and made millions by selling of assets and watering stock
When:May 27 1836 – Dec 2 1892 Sig: |
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Panic of 1893
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What
When:1893 Sig:Forced a quarter of all railroads into bankruptcy. |
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J.P. Morgan
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Who:Banker, who took control of the bankrupt railroads and consolidate them.
When:April 17 1837 - March 31 1913 Sig |
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Bessemer Process
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What:Process for making large quantities of steel by blasting air through molten iron
When Sig:produced high quality steel. Discovered by Henry Bessemer in England and William Kelley in the U.S. in 1850s. |
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Andrew Carnegie
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Who:Shrewd business genius,
When:Nov 25 1835 – August 11 1919 Sig:who was leader of fast-growing steel industry. Employed a business strategy known as vertical integration. |
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Vertical Integration
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What:
When Sig:A company would control every stage of the industrial process, from mining raw materials to transporting the finished product. |
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U.S. Steel
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What:Corporation headed by J.P. Morgan. First billion dollar company and largest enterprise in the world.
When Sig |
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John D. Rockefeller
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Who
When Sig:Took charge of the chaotic oil refinery business. His company was known as the Standard Oil Trust |
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Standard Oil Trust
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What:Consisted of various companies that he had aquired. In 1881 company controlled 90% of the oil refinery business. Fromer competitors were brought under one single corporate umbrella.
When Sig |
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Horizontal Integration
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What: a type of control and ownership
When: occurs when another firm is in the same industry Sig:Used by business or corporation |
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Anti Trust Movement
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What:
When Sig:Middle citizens feared the trusts' unchecked power and urban elites (old wealth) resented the increasing influence of the new rich |
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Sherman Antitrust Act 1890
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What
When Sig:Prohibited any "contract, combination, in form of trust or otherwise, or conspiracy in restraint of trade or commerce." |
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United States v. E.C. Knight
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What
When Sig:Supreme Court ruled that the Sherman Antitrust Act could be applied only to commerce, not to manufacturing. |
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Laissez – Faire Capitalism
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What:Business should be regulated, not by government, but by the "invisible hand" (impersonal economic forces) of the law of supply and demand.
When Sig |
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Adam Smith
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Who: a Scottish philosopher, pioneer of political economics
When:born June 16 1723- died July 17 1790 Sig: a figure of the Scottish Enlightenment, author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. Also the most influential works on economics. Known as father of modern economics and capitalism. |
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Gospel of Wealth
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What: a essay written by Andrew Carnegie
When:1889 Sig:it described the responsibility of philanthropy, as a result entrepreneur must assume responsibility of distributing his fortune. |
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Transatlantic Cable
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What: also known as telegraph cable,
When:1858 Sig: was the first cable used to communicate across the Atlantic Ocean |
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Alexander Graham Bell
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Who:scientist, inventor, engineer, innovator
When:March 3 1847 – August 2 1922 Sig: invented the first practical telephone |
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Sear Roebuck
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Who
When Sig |
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Horatio Alger
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Who
When Sig |
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Railroad Strike of 1877
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What: strike in Martins burg, West Virginia, United States
When:1877 July 14 Sig: brought depression to Europe, effects of downturn reached U.S |
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National Labor union(NLU)
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What: it was the first national labor federation in the United States.
When:1866 Sig:it paved the way for other organizations |
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Knights of Labor
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What:largest and most important American labor organization
When:1880 Sig:promoted social and cultural uplifts of the workingman, rejected Socialism and radicalism ect. |
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Terence V. Powdery
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Who: most important leader of Knights of Labor from 1879 until 1893.
When:Jan 22 1849 – June 241924 Sig:poorly organized that Powderly had little power. |
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Hay market Bombing
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What:Haymarket massacre or Haymarket riot, began as a rally in support of striking workers
When:1886 Sig:significant for the origin of international May Day observances for workers. |
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American Federation of Labor
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What: first federations of labor unions
When:1886 Sig:formed a central labor office to coordinate the actions of different AFL unions. |
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Samuel Gompers
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Who:labor union leader, key figure in AMerican labor history
When:born Jan 27 1850 Sig:founded American Federation Labor, served pred. in that organization from 1886 to 1894 |
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1. Homestead Strike 1894
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What:an industrial lockout and strike
When: June 30 1892 Sig: culminated battle between strikers and private security |
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Eugene V. Debs
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Who:American union leader,
When:1897 Sig: known as best socialists living |
