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34 Cards in this Set
- Front
- Back
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Rebates
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discounts from railroad companies given to their biggest customers to force small businesses to go out of business.
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James Hill
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Canadian -born railroad baron, finished the last major cross-country line in 1893. Wounded from Duluth, Minnesota, to Everett, Washington. Great Northern Railroad.
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Pool
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Group of companies that divided up business in an area and fixed prices. Made shipping prices high.
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Changes brought about by Railroad industry
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Brought people together , business sprang, towns sprouted, 4 time zones and special departments for each part of the business.
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Consolidate
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Larger RR companies brought out smaller RR companies to rule out competition.
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Network
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System of connected lines, created when they standarized track width.
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Free enterprise system
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economic system in which businesses are owned by private citizens.
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John Rockafeller
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Owned standarized oil trusts.
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vertical integration
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control of all phases of an industry, from raw materials to finished product.
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dividend
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share of a corporation's profit.
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Trusts
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Group of Corporations run by a single board of of directors.
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Monopoly
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Company that controls all or nearly all the business of an industry.
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Corporation
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business that is owned by investors. Sells stock to raise money.
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J.P. Morgan
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powerful banker who used banking profits to gain control of Major Corporations. Bought up RR companies and steel.
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Sherman Anti Trust Act
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Banned the formation of trusts and monopolies. Too weak to be effective.
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Edison
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Lightbulb, electric powerplant, and phonograph
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Bell
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Telephone
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Eastman
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Kodak Camera
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McCoy
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Automatic Engine-oiling machine. A device for oiling engines
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Swift
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Refrigeration
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Matzeliger
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Shoemaking machine
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Bessmeir
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Steel making products
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Sholls
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Typewriter
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Assembly lines & effects
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Made products cheaper and faster.People could now afford to buy products like automobiles.
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Mother Jones
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Organized workers into Unions and spoke out against Child labor.
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Injunctions
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A court order to do or not do something. Used to prevent workers from Striking.
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Why did owners use Child labor.
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Low pay.
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AFL membership, who belonged
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Skilled Workers
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Triangle Fire
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Tragic fire that led to new factory safety laws.
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Terence Powderly
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President of the Knights of Labor
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Haymarket Riot
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Violent strike, caused an anti labor feeling throughout the Country.
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Public feelings towards unions
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Children shouldn't work,if individual worked hard they should be rewarded. Against Child labor. Union workers deserved little sympathy.
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Things that hurt the union
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injunctions & violent strikes.
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Goals of Union
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1. higher wages 2.shorter workday. 3.better working conditions 4.End child labor
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