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U.s. History

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