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gilden age quiz
part 1 of unit
Question | Answer |
---|---|
Andrew Carnegie | Steel, poor immigrant from scotland, Carnegie Steel Compant, verticle integration |
Gospel of Wealth | Andrew Carnegie, don't show off wealth, consider and help community, supports public libraries |
John Rockefeller | Oil, does not waste, has a monopoly, horizontal integration, 1st billionaire |
J.P. Morgan | Banker, sketchy practices, bought railroads and Carnegie steel made U.S. Steel, very good business |
Hetty Green | hoarded her money, witch of wall street, inheritted Dad's money |
The Vanderbilts | new rich people, |
rebates | when railroads would give large companies money back for shipping with them (Rockefeller) |
pooling | when a group of companies agrees to keep their prices equal |
holding company | when a larger company controls the stocks of other companies |
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 |
Interstate Commerce Act 1887 | It banned rebates and special treatment to big companies. Made RR rates proportional to distance and publically posted. |
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 |
Sherman Anti-Trust Act 1890 | It made it illegle to combine in order to prevent competition. |
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 |
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. |
Wobblies | Industrial Workers of the World, feared communist union, more talk than action |
Big Bill Haywood | a coal miner who headed the Wobblies |
Baltimore and Ohio Railroad strikes 1877 | violent strikes which completely shuts down RR and gvt has to come in |
Haymarket Massacre | in chicago, there was a big union gathering when someone set off a bomb at the police, |
Homestead Strike | carnegie steel strike, 7 deaths, militia sent in to end it |
Pullman Strike | 1894, tied up RRs, troops sent in to keep them running |
knights of Labor | first Union, 8 hr days, children cant work, sufficient wages, dont suport strikes, (had no power really) |
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 |
Mother Jones | supported mine workers, lead march of children in front of the white house. |
scabs | workers who went to work during a strike |
Adam Smith | Capitalist |
Herbert Spencer | Social Darwinism |
Karl Marx | Socialism and Communism |
Laissez Faire | Leave it alone, capitalism mentality |
Bissel | drilled for oil, found its use to be for bright white cheap light |
Cullom | helped regulate RRs during the interstate commerce act |
Oliver H Kelley | organizer Grangers |
Frederick Taylor | thinks of the idea for each worker to do one step |
Henry Ford | the assembly line |
Levels of Farmer Organization | grangers, farmer's alliances, populists |
grangers | would ship in bulk to combat RRs overcharging them ( like cooperatives) |
Farmer's Alliances | farmers in west and south get active in politics |
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 |