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77 Cards in this Set
- Front
- Back
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Sherman Anti-trust Act
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Sherman Anti-trust Act- Congress banned the formation of trusts and monopolies when under pressure from critics. Act too weak→ ineffective
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Unions
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Unions- A group of workers who band together to win better conditions. (ex. American Federation of Labor or AFL- skilled workers only)
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Trade Unions
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Trade Unions- A union of people who work in the same trade. People joined trade unions then unions joined AFL
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Inflation
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Inflation- Increased prices b/c U.S. produced more money than gold→ wrecked economy→ business men afraid b/c prices of their goods would drop
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Consolidation
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Consolidation- Railroad companies combined to run more cheaply. Large RR’s forced small ones out of business by buying many up.
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Vanderbilt
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Vanderbilt- Most powerful RR’s owner who made very good living. Bought most lines from Chicago to Buffalo and by death owned track linking NYC to Great Lakes area
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Carnegie
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Carnegie- Richest man in America b/c he was the head of the steel Industry. Used vertical integration (ganing control of all steps used to make finished product) to have advantage overall rivals.
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“Gospel of Wealth”-
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“Gospel of Wealth”- Rich have duty to help the poor and give back to their society. Carnegie’s belief.
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Rockerfeller
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Rockefeller – Began his empire from oil refineries instead of the actual oil. Oil prices much cheaper than other companies → more advantageous. Used horizontal integration- buy out all rivals
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Standard Oil Trust
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Standard Oil Trust- Gorup of corporations run by one group of direction. Companies would buy into trust and get paid high dividends. Ended up managing all rivals. Monopolized industry. Used horizontal integeration (buy up all rivals)
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Alexander Graham Bell
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Alexander Graham Bell – Invented a “talking machine” that was bases of modern telephone. Sold more than 300,000 in 8 years.
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Henry Ford
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Henry Ford- Large in Automobile business. Created the moving assembly line (convener belts move pieces of automobile while workers don’t move) which sped up process → mass production of cars which made them cheaper.
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Assembly Line
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Assembly Line- Created by Henry Ford- Conveyer belts that moved parts while the workers don’t move → mass production
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Mass Production
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Mass Production- large amount of product made at one time. cheaper
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Wright Brothers
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Wright Brothers- Orville and Wilbur Wright tested their first flying machine on December 17, 1903 at Kitty Hawk, NC (Orville). By 1905 made a plane that could stay in the air for almost 30 mins. Planes also began being used in U.S. army
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Interchangeable Parts
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Interchangeable Parts- parts that can be used in more than one prototype. Made production easier and cheaper b/c only one specific part had to be made for all cars instead of one specific one for each car.
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Corporation
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Corporation – Business that is owned by investors. They may sell stocks or shares in a business to stockholders. Money invested by stock holders is used for business expansion. In return investors receive dividends
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Stock
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Stock – Share of ownership in a corporation. Stockhoders invest in a part of a business in order to make a profit from the company
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Dividends
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Dividends- shares of a corporation’s profits
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Vertical and horizontal integration
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Vertical and horizontal integration- Vertical: when an owner of a company controls all the steps/raw material companies needed to make his finished product (i.e. car dealer- steel for the parts, paint for car... OR Carnigie). Horizontal : An owner of the company buys up all of his rivals (i.e. Rockefeller)
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Triangle Shirtwaist Company
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Triangle Shirtwaist Company- 1911- A sweatshop on the upper floors of a building in NYC. Fire started on 8th floor but no one could get out of building b/c owners had locked door to ensure no one left during the day. Firemen’s ladders couldn’t reach upper floors. Effects: Better working conditions in other fctories
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Strikebreaker
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Strikebreaker- Hired replacements for workers going on strike (around 1886 when unions became big)
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Collective Bargaining
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Collective Bargaining- When the owners and the employees came to a negotiation on a specific topic. (i.e. Union workers wants 10% raise or will leave the job. Instead employer and employees negotiate to 5% ) One of rights many unions fought for
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Muckrakers
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Muckrakers- Journalists who exposed corruption and other problems of the late 1800’s and early 1900’s abnout many businesses and publish them to many people.
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Upton Sinclair
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Upton Sinclair- Famous muckraker who uncovered he truth about the meat packing industry. Sinclair found that some meat is made of diseased/sick animals. Rats can get ground up in meat but it is dyed to make it look healthy again. Citizens outraged!
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Prohibition
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Prohibition- 1920-1933: Law that banned the manufacture, selling, and transportation of alcohol. Happened b/c alcohol became big problem controlling people. Law didn’t last very long and bootleggers (illegal smugglers) sold it secretly anyway.
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Automobile
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Automobile- no single person “invented” the automobile. Henry Ford created assembly line and mass production to make automobiles more affordable. Brought many Americans closer together becauser they could travel longer distances.
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Highways
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Highways- Built in the mid 1920’s because of the car boom. Linked many towns and cities together.
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Radio
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Radio- Became popular in the 1920’s. First station- KDKA (Pittsburgh). Before T.V. radio showsbecame popular for families to listen to.
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Progressivism
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Progressivism- Era of change. Progressives- forward thinking people who wanted to improve American life. United by belief that the ills of society should be solved. Inspired by religion (i.e. social gospel movement) and science (studies and stats to solve problems
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Inventors and their Inventions:
Edison, Swift, Sholes, Eastman |
- Edison (Wizard of Menlo Park)- Lightbulb, phonograph, first silent movie, Built first power plant in NYC. Could power the light in a district with one switch → Modern age of electricity
- Gustav Swift- 1880’s- refrigerated railroad car. Meat could be taken across country. - Christopher Sholes- perfected the typewriter and made it easier to communicate between businesses - In 1888 George Eastman invented the Brownie camera which made it easier and more practical to take pictures. Photography soon became a common pastime. |
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Theodore Roosevelt
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Theodore Roosevelt- Elected gov of NY after serving U.S. in war against Spain. Progressive govener.Became president in 1901. To many, he was considered a trustbuster. Wanted to get rid of bad trust that took advantage of workers and cheated the public. Busted Standard oil, American tobacco company, Northern Securities company. First President to side w/ labor. DIDN’T RE-RUN!
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Square Deal
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Square Deal: Made sure that farmers to coal miners had equal chance to succeed. Wanted to outlaw rebated
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Pure Food and Drug Act
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Pure Food and Drug Act: Inspectors sent to review meat packing industries. Were not allowed in Required gov. to pass PF&D act which required food and drug companies to list ingredients on packages.
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Alaska &Hawaii Acquisitions
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Alaska: William Seward (Sec. of State) wanted U.S. to dominate pacific trade. Made deal in 1867 to pay 7.2 million dollars to the Russian Ambassador to buy Alaska. Many people thought waste of money and called it Seward’s Folley. Then in 1890’s gold found and later made into state (49th) in 1959.
Hawaii: U.S. wanted Hawaii b/c had fertile land, warm climate, and could support crops year round. Sailors already living in Hawaii b/c enroute to China. Planters & Missionaries came 1820. Hawaiians made up of Japanese, Chinese, Koreans, and Philippines. 1893- Queen of Hawaii reduced influence of foreigners → rebellion. Soon, queen resigned. 1898- annexed by U.S and became state in 1959. |
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Imperialism
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Imperialism- Policy of powerful contries seeking to control the economic and political affairs of weaker countries or regions
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Open Door Policy
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Open Door Policy- China had area usually around sea port where a nation has special trading privileges (sphere of influence). America didn’t have that and feared Imperial powers would cut China off from American traders. John Hay (sec. of state) wrote letter to all nations to keep “Open door” in China so any nation could trade.
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USS Maine
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USS Maine- When fighting broke out in Havana, Cuba in 1898, Pres. McKinley sent USS Maine to protect U.S. citizens & property. Feburary 15, 1898- huge explosion blew up USS Maine and almost 260 ppl died. Americans believed it to be enemies doing but cause of explosion has not yet been found.
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Yellow Journalism
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Yellow Journalism- Reporting that was based only off of sensational stories and headlines. Reports were usually biased and unfair. Very common during Spanish American War.
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Hearst and Pulitzer
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Joseph Pulitzer- head of the New York World newspaper. One of the biggest yellow journalist during the Spanish American War. Rival against Hearst
William Hearst- Head of the New York Journal. BIG yellow journalist! Rival against Pulitzer. |
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Spanish- American War
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Spanish- American War- Occurred in 1898 (four months) because Cubans wanted independence from Spain. Timeline: Cubans in Cuba (Spanish Territory) and U.S. wanted freedom → Rebels move to Spanish rule → Spain sends new governor (HARSH‼). Many Cubans sent to concentration camps → To protect American interest in Cuba, America enters war with the Spanish (Spain) in Cuba and the Phillippeans in April 1898 → Fighting in Cuba by the Rough Riders (adventurous college students led by Teddy Roosevelt) and Buffalo Soldiers (black fighters) → Spain defeated in August 1898 and Peace treaty signed in December 1898. U.S. new territories: Guam, Puerto Rica, Philippines ($20 million), and Cuba.
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Cuba
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Cuba-(Refer to above term) British business nervous about Cuba getting independence. Cuba agreed winder Platt Amendment that U.S. can interfere in Cuba and also control the naval base at Guantanamo Bay. Cuba was an American Protectorate.
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Philippines and Dewey
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Philippines and Dewey- When war was looming, Teddy Roosevelt (sec. of State) wanted to take over Philippines as soon as war started. Roosevelt sent George Dewey ( commander of Pacific fleet) to make sure Spanish does not leave the coast of Asia to invade Philippines. Then with help of allies U.S. captured Philippines but didn’t want to give back land to Filipinos after the war. Then U.S. went to war with Filipinos . Filipinos were given independence in 1946.
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Rough Riders
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Rough Riders- A group of college students led by Teddy Roosevelt who were the first Volunteer Calvary Regiment to fight in the war.
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Panama Canal
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Panama Canal- America wanted more commerce and military ability without having to travel around S. America. Isthmus of Panama belonged to Colombia. America made offer for it but Colombia turned them down. Americans landed in Panama and Panamanians revolted against Colombians and declared themselves an independent region. Americans finished canal 10 years later after suffering from many diseases.
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Roosevelt Corollary
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Roosevelt Corollary- This stated that America had the right to interfere in Latin America to preserve law and order. The U.S. could force Latin Americans to pay their debts to foreign nations but also make sure the foreign nations didn’t get involved with Latin American Affairs.
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Pershing
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Pershing – Wilson sent John Pershing to Mexico during the Mexican Civil War in order to capture Pancho Villa. America stayed in Mexico event after Mexicans asked them to leave. After 11 months Americans withdrew. Strained U.S. relationship with Mexico.
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Wilson and Moral Diplomacy
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Wilson and Moral Diplomacy- Roosevelt and William Taft favored strong role in Latin America. Wilson’s goal was of Moral Diplomacy- to condemn imperialism, spread democracy and promote peace. Wilson intervened in Latin America more than anyone before him.
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Flappers
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Flappers- a woman who liked to rebel against traditional ways of thinking and acting. Extreme rise of flappers in the 20’s
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Speakeasies
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Speakeasies- illegal bars that sold alcohol during Prohibition. Alcohol was brought to speakeasies by bootleggers and were quite popular during the time.
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KDKA
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KDKA- This was the first Radio station to air in America and began broadcasting in the 1920’s. Created a new lifestyle that brought families closer together.
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Charles Lindbergh
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Charles Lindbergh- May 1927- flew non-stop across the Atlantic Ocean ALONE! Nickname: Lucky Lindy. After flight became hero of the decade.
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Harlem Renaissance
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Harlem Renaissance- 1920’s- Large # of African American musicians, artists, & writers went to Harlem, NY. They celebrated their African American Heritages and protested racism and prejudice behavior.
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Jazz
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Jazz- Combined West African rhythms, African American work songs and spirituals, and European harmonies. Fathers of Jazz- Louis Armstrong and Bessie Smith. Skyrocketed in the 1920’s.
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Marcus Garvey
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Marcus Garvey- One of most popular black African American leaders. Began first black nationalist movement in U.S. Wanted many African Americans to go back to Africa to research their ancestral roots.
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Mass Culture
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Mass Culture- Fads and Fashions of the decade. All the new technology and new styles that people had and wore.
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Isolationism
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Isolationism- When a country wants to stay COMPLETELY out of world affairs. After WW1 U.S. stayed as an isolationist country because we didn’t want to commit the job of keeping world peace upon ourselves.
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Installment buying
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Installment buying- During the Coolidge Prosperity, the market boomed and thousands of new products put on market. Many ppl didn’t have enough money so they bought on credit. This meant buyers could take home a new gadget buy giving the company a few dollars up front and paying the rest back plus interest every month.
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On-Margin
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On-Margin- Big part of THE CRASH. People paid part of the value of a stock and borrowed rest from their stockbrokers. When prices fell they couldn’t repay their stockbrokers and many went bankrupt.
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Depression
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Depression- A time when businesses activity slows, wages fall, and unemployment falls. Largest depressin in history was the Great Depression which lasted from 1929 to 1941.
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Causes of the Great Depression
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1) People began to think the stock market would lose its value→ Thousands of stocks were put on the market. Their value dropped dramatically because of supply and demand.
2) The amount that companies and workers spent making and delivering the product was overrun by the amount the companies made as a profit 3) Overproduction → Farmers made more products than were actually being sold. LOST MONEY! 4) Banks loan money to stock buyers (stocks are not stable) → When the stocks crashed people that borrowed money from the banks couldn’t pay off their loans→ Banks couldn’t give someone who deposited money into the bank their money. Banks closed and thousands of investors lost their life savings. |
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Overproduction
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Overproduction- When a business is making more products than are being sold. ONE OF THE MAIN CAUSES TO THE GREAT DEPRESSION‼
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Scopes Trial
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Scopes Trial- 1925- John Scopes taught Darwin’s theory of evolution → he was arrested and tried . Scoped convicted and fines
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Stock Market Crash
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Stock Market Crash- August 1929- investors became worried that prosper was going to end so they began selling their stocks. Because of this stock prices plummeted and people who had borrowed from the bank thinking they would make money from stocks couldn’t pay back loans.
- October 29, 1929- stock market crashed and thousands of valuable stocks were reduced down to pennies. It became known as Black Tuesday. Though business leaders tried to restore faith in the economy they did not succeed. |
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Hoovervilles
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Hoovervilles- As the depression deepened, the homeless called their pitiful shacks “hoovervilles”
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Bonus Army
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Bounus Army- Veterans of war were supposed to receive a bonus for fighting for the country so when the economy hit, hundreds of veterans demanded their bonuses immediately. H.O.R allowed this but it was overruled by the Senate.
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Dust Bowl
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Dust Bowl- in early 1930’s there was a BIG drought in states from Texas to N. Dakota. Central Great Plains had high wind storms that blew sand covering everything. Caused by- grazing cattle, plowing fields, drought in 1930’s, and high winds.
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The New Deal
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The New Deal- immediate release- had 3 main goals: Relief for the jobless, plans for the economic recovery, and reforms to prevent another depression (FDR). National Debt increases b/c government has to borrow money that they don’t have.
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100 Days
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100 Days- Roosevelt closed banks down for four days and only let banks who had enough funds to give to depositors could re-open. Fireside chats. Laid out plans for the new deal. 15 new laws passed in this time.
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Agriculture Adjustment Act (AAA)-
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Agriculture Adjustment Act (AAA)- Gov. paid farmers not to grow specific crops & to grow extra crops under soil and destroy extra animals. People outraged!
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Tennessee Valley Authority (TVA)
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Tennessee Valley Authority (TVA) – Organized to build the Tennessee River Valley to prevent terrible floods. Engenieers built almost 49 dams that produced cheap electricity and deepened river channels. The organization also set up schools and health centers.
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Civilian Conservation Corps (CCC)
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Civilian Conservation Corps (CCC) - This gave jobs to the unemployed men between the ages of 18 and 25.
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Federal Deposit Insurance Corporation (FDIC)
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Federal Deposit Insurance Corporation (FDIC) – made sure savings accounts were approved by the government (up to $100,000)
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National Recovery Administration (NRA)
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National Recovery Administration (NRA) - Encouraged consumers to do business with companies that followed the NRA codes. Those companies stamped blue eagles on products.
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Social Security
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Social Security- Social Security: Federal government pays people who are unemployed, retired disables and dependent children, can’t work or can’t afford health insurance. National Debt increases. (2ND NEW DEAL!)
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Second New Deal
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Second New Deal- long term recovery- Social Security (read above)
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FDR’s Court Packing Plan
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FDR’s Court Packing Plan- A legislative initiative to add more justices to the supreme court it aimed to modernize the federal court system and also would provide the president the power to appoint up to a maximum of 6 additional justices.
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