Knighttime Amsco 17

Front 1

Cornelius Vanderbilt

Back 1

American entrepeneur who built his wealth with the early ferry and railroad empires.

Front 2

New York Central Railroad

Back 2

One of the largest railroads that branched from many of the major cities on the East coast to some in Canada.

Front 3

trunk line

Back 3

A direct line between two telephone switchboards.

Front 4

federal land grants

Back 4

Grants that gave land to companies. (i.e. Pacific Railroad Act of 1862)

Front 5

transcontinental railroads

Back 5

Railroads that spanned from one coast to the other on the continental U.S.

Front 6

Union and Central Pacific

Back 6

Sections of the First Transcontinental Railroad.

Front 7

Jay Gould

Back 7

Leading American railroad developer and speculator.

Front 8

watered stock

Back 8

Asset with and artificially inflated value.

Front 9

rebates

Back 9

Refund of some fraction of the amount paid

Front 10

Panic of 1893

Back 10

Panic resulting from the overdevelopment of railroads.

Front 11

J. Pierpont Morgan

Back 11

Leading American banker that established one of the largest banking houses in the world.

Front 12

interlocking directorates

Back 12

The practice of members of corporate board of directors serving on the boards of multiple corporations

Front 13

William Vanderbilt

Back 13

Son of Cornelius Vanderbilt and heir to the Vanderbilt railroad empire.

Front 14

Second Industrial Revolution

Back 14

Phase of the industrial revolution from 1870-1914 that focused on steel, among other things.

Front 15

Bessemer process

Back 15

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

Front 16

Andrew Carnegie

Back 16

Built Pittsburg's Carnegie Steel Company, a major unit of the later U.S. Steel.

Front 17

vertical integration

Back 17

Absorption into a single firm of several firms involved in all aspects of a product's manufacture from raw materials to distribution

Front 18

U.S. Steel

Back 18

Founded in 1901, the largest steel producer in the United States.

Front 19

John D. Rockefeller

Back 19

Founded Standard Oil in 1870, formerly the largest oil refinery in the world until it was broken up in 1911.

Front 20

Protestant work ethic

Back 20

The necessity for hard work is proponent of a person's calling and worldly success is a sign of personal salvation.

Front 21

horizontal integration

Back 21

Absorption into a single firm of several firms involved in the same level of production and sharing resources at that level.

Front 22

antitrust movement

Back 22

Movement attempting to ban monopolies.

Front 23

Sherman Antitrust Act (1890)

Back 23

The first United States Federal statute to limit cartels and monopolies.

Front 24

United States v. E.C. Knight

Back 24

Case that limited the government's power to control monopolies.

Front 25

laissez-faire capitalism

Back 25

Doctrine that states that government generally should not intervene in the marketplace.

Front 26

Adam Smith

Back 26

Philosopher who introduced the theory of the "invisible hand" and laissez-faire.

Front 27

Social Darwinism

Back 27

Theory that the laws of evolution by natural selection also apply to social structures.

Front 28

Herbert Spencer

Back 28

English philosopher famous for embracing the theory of evolution and coining the term "survival of the fittest".

Front 29

survival of the fittest

Back 29

A natural process resulting in the evolution of organisms best adapted to the environment.

Front 30

gospel of wealth

Back 30

Essay written by Andrew Carnegie in 1889 that described the responsibility of philanthropy by the new upper class of self-made rich

Front 31

Russel Conwell

Back 31

Founder of Temple University in 1884.

Front 32

Samuel F.B. Morse

Back 32

Creator of the telegraph and Morse Code.

Front 33

transatlantic cable

Back 33

Telegraph cable that was lain across the floor of the Atlantic ocean to open up communications with Europe and North America.

Front 34

Alexander Graham Bell

Back 34

Inventor of the telephone.

Front 35

telephone

Back 35

A telecommunications device that is used to transmit and receive electronically or digitally encoded sound between two or more people.

Front 36

Thomas A. Edison

Back 36

American inventor whose most famous inventions included the lightbulb and the phonograph.

Front 37

George Westinghouse

Back 37

Pioneer of the electrical industry and inventor of the railroad air brake.

Front 38

consumer goods

Back 38

Goods (as food or clothing) intended for direct use or consumption.

Front 39

Sears, Roebuck

Back 39

Chain of department stores founded by Richard Warren Sears and Alvah Roebuck in 1886 in Chicago.

Front 40

Montgomery Ward

Back 40

Creator of the world's first mail order business in 1872.

Front 41

Horatio Alger

Back 41

American author who focused on the rise of poor children to a middle-class life.

Front 42

upward mobility

Back 42

The degree to which an individual's family or group's social status can change throughout the course of their life through a system of social hierarchy.

Front 43

white-collar workers

Back 43

Salaried professional or an educated worker who performs semi-professional office, administrative, and sales coordination tasks, as opposed to a blue-collar worker, whose job requires manual labor.

Front 44

middle class

Back 44

The social class between the lower and upper classes.

Front 45

David Ricardo

Back 45

Political economist often credited with systematizing economics.

Front 46

iron law of wages

Back 46

Real wages in the long run would trend toward the value needed to keep the workers' population constant.

Front 47

scab

Back 47

A replacement worker for a person on strike.

Front 48

lockout

Back 48

A management action resisting employee's demands; employees are barred from entering the workplace until they agree to terms.

Front 49

blacklist

Back 49

A list or register of persons who, for one reason or another, are being denied a particular privilege, service, mobility, access or recognition.

Front 50

yellow-dog contract

Back 50

An agreement between an employer and an employee in which the employee agrees, as a condition of employment, not to be a member of a labor union.

Front 51

injunction

Back 51

An equitable remedy in the form of a court order, whereby a party is required to do, or to refrain from doing, certain acts.

Front 52

railroad strike of 1877

Back 52

Strike caused by the railroad company's decision to cut workers' wages for the second time in a year by the Baltimore and Ohio Railroad.

Front 53

National Labor Union

Back 53

Founded in 1866, the first national labor federation in the U.S.

Front 54

Knights of Labor

Back 54

An all-inclusive labor union that was founded in 1869 in Philidelphia.

Front 55

Terence V. Powderly

Back 55

Leader of the Knights of Labor from 1879 to 1893.

Front 56

Haymarket bombing (1886)

Back 56

Incident where 3,000 striking workers were approached by 180 police officers in the Chicago area. A bomb was thrown by a protester, which was followed by the police opening fire on the crowd.

Front 57

American Federation of Labor

Back 57

Largest labor union for the first half of the 20th century.

Front 58

Samuel Gompers

Back 58

President of the AFL from 1886 until his death in 1924.

Front 59

Homestead strike (1892)

Back 59

Iron and steel works strike June 30, 1892 til July 6, 1892.

Front 60

Pullman strike (1894)

Back 60

Reaction of 3,000 Pullman Palace Car Company workers who took a 25% cut in pay. The event shut down traffic west of Chicago on May 11, 1894.

Front 61

Eugene V. Debs

Back 61

American Union leader and founder of the Industrial Workers of the World.

Front 62

In re Debs

Back 62

"Supreme Court decision that ruled that the government had a right to regulate interstate commerce and ensure the operations of the Postal Service, along with a responsibility to ""ensure the general welfare of the public.""