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ch 19 vocab
vocabulary from chapter 19
Term | Definition |
---|---|
13th Amendment | this banned slavery |
14th Amendment | this made all people born in the US citizens |
15th Amendment | this gave all citizens the right to vote |
American Federation of Labor | organized in 1881, represented skilled workers in various crafts; led by Samuel Gompers; worked for better working conditions, higher wages, and safer conditions |
Assembly Line | method of production in which workers add parts to a product that moves along on a belt; Henry Ford started this in 1913 |
Bessemer Process | a way of marking strong steel at a low cost |
Capital | another name for money |
Corporation | a business owned by investors (people who buy stock) and that sells stock in order to raise money |
Dividend | a stockholder's share of a corporations profit |
Free Enterprise System | private citizens own businesses; the owners make the decisions and companies compete to win customers by making the best product at the lowest price |
Haymarket Riot | May 1886, Chicago; clash between strikers and police left several people dead |
Homestead Act | this encouraged people to settle in the West by giving people 160 acres of free land if they promised to farm it for 5 years |
Horizontal Integration | the combining of competing companies into one corporation; JD Rockefeller used this to build Standard Oil |
Homestead Strike | 1892, Homestead, Pennsylvania; strike at Carnegie Steel plant |
Injunction | a court order to do or not to do something |
Knights of Labor | formed in 1869; a labor union that was top secret and at first open to skilled workers only. Goals: shorter work day, end child labor and equal pay for men and woman |
Mass Production | making large quantities of a product quickly and cheaply |
Monopoly | a company that controls all or nearly all the business of an industry |
Populist | a political party formed in 1891 mostly by farmers and members of labor unions who demanded government help with falling farm prices, regulation of railroad rates, and free silver (more money to be put in circulation) |
Pullman Strike | May 1894; employees at a Pullman railway plant went on strike to protest a wage cut; strike was led by Eugene V. Debs |
Sherman Antitrust Act | approved in 1890, it banned the formation of trusts and monopolies but was weak and not very effective |
Standard Oil Company | Rockefeller combined oil companies into a single corporation and this was the name |
Stock | shares of ownership in a company; people who buy stock own part of a company |
Trust | a group of corporation run by a single board of directors; often very powerful, eliminating their competition, and seen as corrupting the government |
Vertical Integration | having control of all the steps required to change raw materials into finished products |