Studied by 6 peopleTaught at OHS by Mr. Davis | Textbook Reading Knowt
What is Andrew Carnegie’s process of vertical integration used in the steel industry?
Only those under his employment would handle the steel, like the miners, shippers, and the railroads.
How did Rockefeller use horizontal integration to build up Standard Oil?
He eliminated smaller companies by buying them out
What is a trust?
Giving stock/control to another company
What was J.P. Morgan’s concept of interlocking directorates?
When individuals serve on the boards of multiple companies, allowing them to influence decision-making and control various industries.
Why did steel production in the United States increase so much during the second half of the 19th century?
The Bessemer Process caused the production of steel to cheapen heavily.
What is the business deal between Carnegie and Morgan that gave morgan control of the steel industry.
Morgan bought over Carnegie for $400 million, so Carnegie wouldn’t invade his business.
Explain the concept of the Gospel of Wealth.
The rich should give to help the poor.
What is Social Darwinism?
Gaining wealth by “survival of the fittest.”
How did Spencer use Social Darwinism to justify the business practices happening in the late 19th century?
Claimed “the millionaires are a product of natural selection.”
How did trusts use the 14th Amendment as protection for their business practices?
Claimed their corporations to be a person, and as such were protected by the constitution.
What is the 14th Amendment?
No state shall deny equal protection to any person within its jurisdiction the equal protection of the laws.
Was is the Sherman Anti-Trust Act?
A law that forbids use of trust in business.
How did the Sherman Anti-Trust Act fail to work well?
There were many loopholes, wasn’t harsh enough.
Examples of how industry is growing in the South during this time period.
Tobacco shot up due to cigarette rolling machines, textiles was also a large industry.
What are the major obstacles to industrial growth in the South?
Without the factories and railroads that were almost exclusively in urban areas, supplies costed more and were harder to obtain.
What is the impact of the Industrial Revolution on the United States?
Huge boom in economy, more than ever before due to new inventions.
How are women impacted by the Industrial Revolution
“Hello Girl” jobs began to open up, like receptionists. For the most part, there were simply more jobs.
Describe the transformation in the type of jobs people were doing from 1860-1900.
Many went from agricultural to factory work.
What is Vertical Integration?
Only those under your employment may handle your product.
What is Horizontal Integration?
Buying out smaller companies to eliminate competition.
Describe the growth of railroads in the United States during the second half of the 19th century.
The industry boomed, in 1865 there were about 30,000 miles. In 1900, there were nearly 200,000 miles.
How did the government encourage the growth of railroads in the United States.
They gave land to those who helped to build the rails.
Explain the process that led to the completion of the Transcontinental Railroad in 1869.
Workers would lay thousands of tracks and hammer them into the ground.
What other transcontinental railroads are completed in the 19th century?
Union Pacific, Central Pacific, Northern Pacific, Southern Pacific
How do people like Vanderbilt, Westinghouse, and Pullman change the railroad industry?
Better service, lower costs, steel rails; air breaks; luxury train cars
How did railroads spur the economic growth of the post-Civil War years in the United States?
Could sell/send raw materials to get developed and sent back.
What major creation happens on November 18th, 1883
4 major time zones are integrated into the United States.
Explain how railroad kings like Jay Gould and Vanderbilt family, among others, made money in a questionable fashion from the railroads.
Claimed that land was only good for building railroads, which led to more being built, which leads to more money.
Explain how states tried to regulate railroads, and how the Supreme Court case, “Wabash, St. Louis & Pacific Railroad Company v. Illinois” stopped those efforts.
Protested into being shoved into bankruptcy and gave congress the power to regulate interstate commerce.
What is the significance of the Interstate Commerce Act, passed in 1887 by Congress?
Railroad companies were forced to openly publish their rates.
Explain the major industrial changes/inventions that occur in the United States during the time period.
Liquid Capitol started to become abundant, innovations in transportation caused rapid growth, and massed produced factory items caused market growth.
What is a Laissez Faire Government?
“Hands-off”; did very little domestically.
What was the role of the president during the Gilded Age?
Avoided offending any faction of party, doled out federal jobs,
Major Developments during the Gilded Age:
Industrialization, Urbanization, Immigration
Mark Twain’s “The Gilded Age” gives a __________ appraisal of democracy.
Negative
America dealt with these problems by becoming incredibly _________.
Corrupt
An organization that works to win elections is a Political ___________.
Machine
This guy basically ran New York as Boss of Tammany Hall:
William Tweed
Political machines got money from ____________.
Kickbacks
What is a kickback?
Simple Terms: Paying somebody for giving you extra privileges.
In return for helping immigrants, Tammany expected ___________.
Votes
The Credit Mobiler scandal involved corruption of the _____________ industry.
Railroad
The Whiskey Ring Scandal tarnished the ________ Branch.
Executive
After Grant’s Presidency, the office was filled by ___________.
One-termers
Both Republicans and Democrats were pro-_____________.
Business
The Civil Service Act of 1883 created a ____________.
Merit System
The Sherman Anti-Trust Act forbade practices that restrained _________.
Trade
In the West, ___________ became politically motivated.
Farmers
Farmers formed the ________, which called for fair railroad rates.
Grange
Along with the railroads, __________ was seen as the source of farmers’ trouble.
Government
This movement grew into the Peoples’ Party, or the ___________.
Populists
The best known Populist candidate was _________.
William James Bryan/W.J. Bryan
Free coinage of silver would make it easier for farmers to __________.
Pay Debts
_____________ won the election of 1898.
McKinley
Journalists who exposed corruption were called ___________.
Muckrakers
Note
Flashcard