Industrialization

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Cornelius Vanderbilt

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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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A railroad operating in the Northeastern United States. Headquartered in New York, the railroad served most of the Northeast, including

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Federal land Grants 1865-1900

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is one of two United States federal laws that gave an applicant freehold title to up to 160 acres (65 hectares or one-fourth section) of undeveloped federal land west of the Mississippi River. The law required three steps: file an application, improve the land, and file for deed of title.

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Transcontinental Railroad

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contiguous network of railroad trackage that crosses a continental land mass with terminals at different oceans or continental borders.
owned or controlled by multiple railway companies along a continuous route.

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Jay Gould

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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.

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Panic of 1893

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economic depression in the United States that began in that year.[1] Similar to the Panic of 1873, 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. Until the Great Depression, the Panic of '93 was considered the worst depression the United States had ever experienced.

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J.P. Morgan

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John Pierpont Morgan (April 17, 1837 - March 31, 1913) 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. After financing the creation of the Federal Steel Company he merged in 1901 the Carnegie Steel Company and several other steel and iron businesses, including Consolidates Steel and Wire Company owned by William Edenborn, to form the United States Steel Corporation.

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Bessemer Process

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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. The process was independently discovered in 1851 by William Kelly.[1][2] The process had also been used outside of Europe for hundreds of years, but not on an industrial scale.[3] The key principle is removal of impurities from the iron by oxidation with air being blown through the molten iron. The oxidation also raises the temperature of the iron mass and keeps it molten

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Andrew Carnegie

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a Scottish-American industrialist, businessman, entrepreneur and a major philanthropistHe built Pittsburgh's Carnegie Steel Company, which was later merged with Elbert H. Gary's Federal Steel Company and several smaller companies to create U.S. Steel. With the fortune he made from business among others he built Carnegie Hall, later he turned to philanthropy and interests in education

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Vertical Integration

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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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he United States Steel Corporation (NYSE: X), more commonly known as U.S. Steel, is an integrated steel producer with major production operations in the United States, Canada, and Central Europe. The company is the world's tenth largest steel producer ranked by sales (see list of steel producers). It was renamed USX Corporation in 1991 and back to United States Steel Corporation in 2001 when the shareholders of USX spun off its steel-making assets following the acquisition of Marathon Oil in 1982. It is still the largest domestically owned integrated steel producer in the United States, although it produces only slightly more steel than it did in 1902.

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John D. Rockefeller

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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.[1] Standard Oil began as an Ohio partnership formed by John D. Rockefeller

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Standard Oil Trust

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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[3] 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.
John D. Rockefeller was a founder, chairman and major shareholder.

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Horizontal Integration

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occurs when a firm is being taken over by, or merged with, another firm which is in the same industry and in the same stage of production as the merged firma 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

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Anti Trust Movement

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he body of laws that prohibits anti-competitive behavior (monopoly) and unfair business practices. Antitrust laws are intended to encourage competition in the marketplace. [1] These competition laws make illegal certain practices deemed to hurt businesses or consumers or both, or generally to violate standards of ethical behavior.

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Sherman Anti Trust Act 1890

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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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Laissez - Faire Capitalism

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Adam Smith

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Gospel of Wealth

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Transatlantic Cable

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Alexander Graham Bell

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Sear Roebuck

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Horatio Alger

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Railroad Strike of 1877

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National Labor Union

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Knights of Labor

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Terence V. Powderly

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Haymarket Bombing

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American Federation of Labor

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American Federation of Labor

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Samuel Gompers

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Homestead Strike 1894

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Eugene V. Debs

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