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U.s. History

TermDefinition
The Gilded Age term coined by Mark Twain
The Pendleton Civil Service Act designed to end the Spoils System
Tammy Hall New York Political Machine
Tammy Hall run by "boss" who stole as much as $200million from the government
The Telegraph greatly increased communication
Thomas Edison Light bulb, phonograph, motion picture camera, direct current
The Bessemer Process created steel that was cheaper and easier and Faster to produce
Entrepreneurs people who take risks in a business in order to make a profit
Monopoly a company that completely controls the market of a certain industry
Horizontal consolidation gaining control of companies in the same industry
Vertical consolidation gaining control of the many different businesses that make up all phases of a product's development
Trust a group of separate companies placed under the control of a single board to form a monopoly
Cartel an association of business making the same product that controls prices and supply to monopolize the market
John D. Rockefeller controlled nearly all the nation's oil refineries
Sherman Antitrust Act passed to prohibit monopolies
Sherman Antitrust Act ineffective until Theodore Roosevelt used it in 1902
Wright Brothers first successful airplane.
World' Columbian Exposition also known as the Chicago World's Fair
World' Columbian Exposition to honor 400th anniversary of Columbus's "Discovery" of America in 1492
Economies of Scale as production increases, the cost per item decreases
Social Darwinism belief that the fittest members of society that made the most money; those people who were poor were unfit
Gospel of Wealth Andrew Carnegie's belief that the rich had a right to make money and a responsibility to spend it properly by helping worthy causes.
Child Labor usually age 12 or 13; some as young as 6; their wages were necessary for the survival of their families
Hardships most labors worked 12 hours a day, 6 days a week
Sweatshops overcrowded factories with poor working conditions.
Piecework workers are paid by what they produce, not by the hour
Socialism government controls the means of production
Capitalism private business controls the means of production
Labor Union an organization of workers formed to increase wages, reduce hours, and improve working conditions
American Federation of Labor founded by Samuel Compers
Great Railroad Strike of 1877 1st major strike in the U.S.
Great Railroad Strike of 1877 broken up by the U.S. Army Troops
Haymarket Riot, Chicago 1886 led to the downfall of the Knights of Labor
Nativism the belief that the U.S. should be preserved for native-born Americans
Chinese Exclusion Act 1882; denied citizenship to people born in China
Created by: Becca101