part 1 of unit
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Andrew Carnegie | Steel, poor immigrant from scotland, Carnegie Steel Compant, verticle integration
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| Gospel of Wealth | Andrew Carnegie, don't show off wealth, consider and help community, supports public libraries
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| John Rockefeller | Oil, does not waste, has a monopoly, horizontal integration, 1st billionaire
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| J.P. Morgan | Banker, sketchy practices, bought railroads and Carnegie steel made U.S. Steel, very good business
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| Hetty Green | hoarded her money, witch of wall street, inheritted Dad's money
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| The Vanderbilts | new rich people,
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| rebates | when railroads would give large companies money back for shipping with them (Rockefeller)
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| pooling | when a group of companies agrees to keep their prices equal
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| holding company | when a larger company controls the stocks of other companies
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| trusts | the goal here is to make monopolies with control from behind the scenes since all the original companies keep their same names, money is given to trustees
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| Interstate Commerce Act 1887 | It banned rebates and special treatment to big companies. Made RR rates proportional to distance and publically posted.
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| Limitations of Interstate Commerce Act | Hard to control under the tabel business, vaque law, easy to find loop holes, supreme court ruled gvt couldnt set RR prices, hard to regualte a bankrupt business
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| Sherman Anti-Trust Act 1890 | It made it illegle to combine in order to prevent competition.
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| Sherman Antitrust limitations | nobody enforced it since they didnt want to go against the big businesses, easy to sneak around by being "holding company" not trust
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| Eugene V Debs | made the American Railways union where he attempted to unite all workers (skilled and unskilled) into one union. Very successful because during a strike everything would get frozen.
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| Wobblies | Industrial Workers of the World, feared communist union, more talk than action
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| Big Bill Haywood | a coal miner who headed the Wobblies
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| Baltimore and Ohio Railroad strikes 1877 | violent strikes which completely shuts down RR and gvt has to come in
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| Haymarket Massacre | in chicago, there was a big union gathering when someone set off a bomb at the police,
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| Homestead Strike | carnegie steel strike, 7 deaths, militia sent in to end it
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| Pullman Strike | 1894, tied up RRs, troops sent in to keep them running
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| knights of Labor | first Union, 8 hr days, children cant work, sufficient wages, dont suport strikes, (had no power really)
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| Samuel Gompers | made American Federation of Labor, "bread and butter" unions. Made divisions of labor and organized them all into one group, a strong union, paid striking workers, only skilled workers
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| Mother Jones | supported mine workers, lead march of children in front of the white house.
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| scabs | workers who went to work during a strike
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| Adam Smith | Capitalist
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| Herbert Spencer | Social Darwinism
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| Karl Marx | Socialism and Communism
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| Laissez Faire | Leave it alone, capitalism mentality
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| Bissel | drilled for oil, found its use to be for bright white cheap light
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| Cullom | helped regulate RRs during the interstate commerce act
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| Oliver H Kelley | organizer Grangers
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| Frederick Taylor | thinks of the idea for each worker to do one step
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| Henry Ford | the assembly line
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| Levels of Farmer Organization | grangers, farmer's alliances, populists
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| grangers | would ship in bulk to combat RRs overcharging them ( like cooperatives)
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| Farmer's Alliances | farmers in west and south get active in politics
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| Populists | national political group of populists. ran for pres for populists and democrats. Made cross of gold speech in favor of free silver, doesnt win
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