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36 Cards in this Set
- Front
- Back
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Cornelius Vanderbilt
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the sobriquet Commodore, was an American entrepreneur. He built his wealth in shipping and railroads and was the patriarch of the Vanderbilt family and one of the richest Americans in history.
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New York Central Railroad
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was a railroad operating in the Northeastern United States. Headquartered in New York, the railroad served most of the Northeast, including extensive trackage in the states
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Federal Land Grants 1865-900
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:)
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Transcontinental Railroad
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is a contiguous network of railroad trackage that crosses a continental land mass with terminals at different oceans or continental borders. Such networks can be via the tracks of either a single railroad, or over those owned or controlled by multiple railway companies along a continuous route.
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Jay Gould
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was a leading American railroad developer and speculator. He has long been vilified as an archetypal robber baron, whose successes made him the ninth richest American in history. Condé Nast Portfolio ranked Gould as the 8th worst American CEO of all time.Some modern historians working from primary sources have discounted various myths about him
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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. this panic was marked by the collapse of railroad overbuilding and shaky railroad financing which set off a series of bank failures. Compounding market overbuilding and the railroad bubble, was a run on the gold supply (relative to silver), because of the long-established American policy of Bimetalism, which used both silver and gold metals at a fixed 16:1 rate for pegging the value of the US Dollar
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J.P. Morgan
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was an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time. In 1892 Morgan 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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was the first inexpensive industrial process for the mass-production of steel from molten pig iron. The process is named after its inventor, Henry Bessemer, who took out a patent on the process in 1855
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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 Iintegartion
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describes a style of management control. Vertically integrated companies in a supply chain are united through a common owner. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It is contrasted with horizontal integration
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U.S. Steel
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was an American oil magnate. Rockefeller revolutionized the petroleum industry and defined the structure of modern philanthropy. In 1870, he founded the Standard Oil Company and aggressively ran it until he officially retired in 1897
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John D. Rockefeller
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was an American oil magnate. Rockefeller revolutionized the petroleum industry and defined the structure of modern philanthropy. In 1870, he founded the Standard Oil Company and aggressively ran it until he officially retired in 1897
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Satandard Oil Trust
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was a predominant American integrated oil producing, transporting, refining, and marketing company. Established in 1870 as a corporation in Ohio, it was the largest oil refiner in the world and operated as a major company trust and was one of the world's first and largest multinational corporations until it was broken up by the United States Supreme Court in 1911.
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Horizontal Integration
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the term horizontal integration describes a type of ownership and control. It is a strategy used by a business or corporation that seeks to sell a type of product in numerous markets. Horizontal integration in marketing is much more common than vertical integration is in production.
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Anti Trust Movement
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:)
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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. 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.
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United States v. E.C. Knight
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also known as the "'Sugar Trust Case,'" was a United States Supreme Court case that limited the government's power to control monopolies. The case, which was the first heard by the Supreme Court concerning the Sherman Antitrust Act, was argued on October 24, 1894 and the decision was issued on January 21, 1895.
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Lissez – 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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was a Scottish social philosopher and a pioneer of political economics. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. The latter, usually abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. It earned him an enormous reputation and would become one of the most influential works on economics ever published. Smith is widely cited as the father of modern economics and capitalism.
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Gospel of Wealth
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the Richest man in the World,"is an essay written by Andrew Carnegie in 1889 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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was the first cable used for telegraph communications laid across the floor of the Atlantic Ocean. It crossed from the Telegraph Field, Foilhommerum Bay, Valentia Island, in western Ireland to Heart's Content in eastern Newfoundland. The transatlantic cable bridged North America and Europe, and expedited communication between the two. Whereas it would normally take at least ten days to deliver a message by ship, it now took a matter of minutes by telegraph.
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Alexander Graham Bell
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was 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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:)
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Horatio Alger
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was 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.
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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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The National Labor Union (NLU) 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). It was led by William H. Sylvis. The National Labor Union followed the 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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was the largest and one of the most important American labor organizations of the 1880s. they 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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was born in Carbondale, Pennsylvania, the son of Irish Catholic immigrants. He was a highly visible national spokesman for the working man as head of the Knights of Labor from 1879 until 1893. Although the Knights claimed over 600,000 members at its peak in 1886, it was so poorly organized that Powderly had little power.
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Haymarket Bombing
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1886 a strike was began throughout the United States in support a eight-hour day. Over the next few days over 340,000 men and women withdrew their labor. Over a quarter of these strikers were from Chicago and the employers were so shocked by this show of unity that 45,000 workers in the city were immediately granted a shorter workday.
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American Federation of Labor
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was one of the first federations of labor unions in the United States. It was founded in 1886 by an alliance of craft unions disaffected from the Knights of Labor, a national labor association.
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Samuel Gompers
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was an English-born American labor union leader and a key figure in American labor history. Gompers founded the American Federation of Labor , 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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was 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. It was one of the most serious disputes in US labor history.
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Eugene V. Debs
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was 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.[
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