Question 1

Bessemer Process

Accepted Answer

Where air was blown on molten iron to remove impurities, allowing steel to be produced cheaply at mass quantities. It was developed by British inventor Henry Bessemer, and Andrew Carnegie used it at his steelmaking factory.

Question 2

Pooling

Accepted Answer

When companies set the price of a product instead of market forces.

Question 3

Interstate Commerce Act

Accepted Answer

Congressional legislation that compelled railroads to publish standard rates, and prohibited rebates and pools. Railroads used this to achieve their own ends, but it gave the government an important means to regulate big business.

Question 4

Vertical Integration

Accepted Answer

The practice perfected by Andrew Carnegie of controlling every step of the industrial production process in order to increase efficiency and limit competition.

Question 5

Interlocking Directorates

Accepted Answer

The practice of having executives or directors from one company serve on the board of directors of another company. J. P. Morgan introduced this practice to eliminate banking competition.

Question 6

Standard Oil Company

Accepted Answer

John D. Rockefeller’s company, which came to symbolize the trusts and monopolies of the Gilded Age. Controlled 95 percent of the oil refineries in the United States, and was one of the first multinational corporations.

Question 7

Horizontal Integration

Accepted Answer

The practice perfected by John D. Rockefeller of dominating a particular phase of the production process in order to monopolize a market, often by forming trusts and alliances with competitors.

Question 8

Trust

Accepted Answer

One company grants control over its operations, through ownership of its stock, to another company. The Standard Oil Company became known for this practice as it eliminated its competition by taking control of smaller oil companies.

Question 9

Sherman Anti-Trust Act

Accepted Answer

A law that forbade trusts or combinations in business, was one of the first congressional attempts to regulate big business for the public good.

Question 10

National Labor Union

Accepted Answer

The first organization of its kind in U.S. history, with 600,000 members from many parts of the work force, although it limited the participation of women as well as Chinese and Black people. They fought for an eight-hour workday before dissolving in 1872

Question 11

Knights of Labor

Accepted Answer

The second organization of its kind, started as a secret society and became public in 1881. Known for efforts to organize all workers regardless of skill/gender/race. After the mid-1880s membership declined from violent strikes and discord between members

Question 12

Haymarket Square

Accepted Answer

A May Day rally that turned violent when someone threw a bomb into the middle of the meeting, killing several dozen people. Eight anarchists were arrested for conspiracy contributing to the disorder.

Question 13

AFL

Accepted Answer

An organization that included only skilled workers, founded in 1886. Led by Samuel Gompers, they sought to negotiate with employers for a better kind of capitalism that rewarded workers fairly with better wages, hours, and conditions.

Question 14

Closed Shop

Accepted Answer

The practice of allowing only unionized employees to work for a particular company. The AFL became known for negotiating these agreements with employers, in which the employer would agree not to hire nonunion members.

Term	Definition
Iron Horse
Bessemer Process	Where air was blown on molten iron to remove impurities, allowing steel to be produced cheaply at mass quantities. It was developed by British inventor Henry Bessemer, and Andrew Carnegie used it at his steelmaking factory.
Pooling	When companies set the price of a product instead of market forces.
Interstate Commerce Act	Congressional legislation that compelled railroads to publish standard rates, and prohibited rebates and pools. Railroads used this to achieve their own ends, but it gave the government an important means to regulate big business.
Other New Inventions
Andrew Carnegie
Vertical Integration	The practice perfected by Andrew Carnegie of controlling every step of the industrial production process in order to increase efficiency and limit competition.
JP Morgan
Interlocking Directorates	The practice of having executives or directors from one company serve on the board of directors of another company. J. P. Morgan introduced this practice to eliminate banking competition.
JD Rockefeller
Standard Oil Company	John D. Rockefeller’s company, which came to symbolize the trusts and monopolies of the Gilded Age. Controlled 95 percent of the oil refineries in the United States, and was one of the first multinational corporations.
Horizontal Integration	The practice perfected by John D. Rockefeller of dominating a particular phase of the production process in order to monopolize a market, often by forming trusts and alliances with competitors.
Trust	One company grants control over its operations, through ownership of its stock, to another company. The Standard Oil Company became known for this practice as it eliminated its competition by taking control of smaller oil companies.
Gospel of Wealth
Sherman Anti-Trust Act	A law that forbade trusts or combinations in business, was one of the first congressional attempts to regulate big business for the public good.
The South in the Gilded Age
Workers in the Gilded Age
Unions
National Labor Union	The first organization of its kind in U.S. history, with 600,000 members from many parts of the work force, although it limited the participation of women as well as Chinese and Black people. They fought for an eight-hour workday before dissolving in 1872
Knights of Labor	The second organization of its kind, started as a secret society and became public in 1881. Known for efforts to organize all workers regardless of skill/gender/race. After the mid-1880s membership declined from violent strikes and discord between members
Haymarket Square	A May Day rally that turned violent when someone threw a bomb into the middle of the meeting, killing several dozen people. Eight anarchists were arrested for conspiracy contributing to the disorder.
AFL	An organization that included only skilled workers, founded in 1886. Led by Samuel Gompers, they sought to negotiate with employers for a better kind of capitalism that rewarded workers fairly with better wages, hours, and conditions.
Closed Shop	The practice of allowing only unionized employees to work for a particular company. The AFL became known for negotiating these agreements with employers, in which the employer would agree not to hire nonunion members.

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APUSH ch23