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gilden age quiz

part 1 of unit

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
Created by: 07adelmanl