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APUSH Chapter 24
APUSH 2014/2015
| Question | Answer |
|---|---|
| Leland Stanford and Collis P. Huntington | two of the chief financial backers (Big Four) of the Central Pacific Railroad; walked away with money but kept their hands clean |
| James J. Hill | probably the greatest railroad builder of all; created the Great Northern railroad |
| Cornelius Vanderbilt | made millions in the steamboat industry; clear-visioned; provided superior service at lower rates |
| Jay Gould | a financer who partnered with Jay Fisk in tampering with the railroad stocks for personal profit |
| Alexander Graham Bell | developed the telephone |
| Thomas Edison | invented the phonograph, which gained popularity quickly; also invented the lightbulb |
| Andrew Carnegie | immigrated from Scotland; established a monopoly over the railroad and steel industries |
| John D. Rockefeller | dominated the oil industry; organized the Standard Oil Company of Ohio in 1870 |
| J. Piermont Morgan | financed the reorganization of railroads, insurance companies, and banks; bought out Carnegie; expanded his industrial empire rapidly |
| Terence V. Powderly | Irish-American leader of the Knights of Labor |
| John P. Atgeld | governor of Illinois who pardoned three survivors of the Haymarket Square incident; people did not like him because of this |
| Samuel Gompers | led the American Federation of Labor |
| land grant | federally owned land granted to railroad companies to encourage the building of railroads |
| stock watering | process in which railroad promoters artificially inflated the price of their stocks and bonds |
| pool | an informal agreement between business leaders to keep prices high and competition low |
| rebate | a refund of some fraction of an amount paid |
| vertical integration | the absorption of several firms into a single firm; Andrew Carnegie's process |
| horizontal integration | type of a monopoly where one company buys out all of its competition; John D. Rockefeller's process |
| trust | an economic process in which other companies and stockholders assign their stocks to one board of trust that would manage them; this made the board leader very wealthy and at the same time it killed off other competitors |
| interlocking directorate | J. Piermont Morgan's process of consolidating rival enterprises by placing his own men on various boards of directors |
| capital goods | buildings, machinery, tools, etc. that provide productive services over a period of time |
| plutocracy | no state involvement in interstate commerce; used by lawyers to protect the wealthy |
| injunction | a judicial remedy issued in order to prohibit a party from doing or continuing to do a certain activity |
| Union Pacific Railroad | commissioned by Congress; went west from Nebraska; received big federal loans and land grants; completed by Irish workers; faced threats from Indian attacks |
| Central Pacific Railroad | built in California from Sacramento through the Sierra Nevada mountains; backed by the Big Four; completed by Chinese laborers |
| Grange | an outlying farm |
| Wabash case | 1886; the Supreme Court decreed that no individual state has power in regulating interstate commerce |
| Bessemer process | a way of making cheap steel by using hot air to make iron stronger; used by Carnegie |
| United States Steel | Andrew Carnegie's powerful and wealthy steel company; later bought out by J.P. Morgan |
| Gospel of Wealth | Andrew Carnegie's essay about his personal philosophy on wealth; he believed that the wealthy should donate their money while they were still alive |
| William Graham Sumner | advocate of social darwinism |
| New South | term that Southern promoters' used to promote their belief in the technological advancement of the South |
| yellow dog contract | an agreement that some companies forced on their workers that forbade them from joining a union; used to limit the power of unions |
| National Labor Union | formed in 1866; lasted for 6 years and attracted many members; excluded Chinese, women, and blacks |
| Haymarket Sq. Riot | started as a Knights of Labor strike that was bombed and led to hysteria; the work of anarchists, not the Knights of Labor |
| American Federation of Labor | founded by Samuel Gompers; formed a union of unions; shunned politics; pushed for a fairer share of labor with better wages, hours, and conditions; mostly unsuccessful |
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fontainesophie