APUSH Vocab: Gilded Age 1-22

the "New South"

advocated industrializing, diversifying agriculture, attracting immigrants, accumulating investment capital, and promoting a spirit of business enterprise

Great Railroad Strike of 1877

A group of railroad workers on the Baltimore and Ohio Railroad rose up and began to strike due to wage cuts. This spread up and down the railroad line across the nation. Railroad roadhouse were torched. President Rutherford B. Hayes sent in troops to stop the strike. 100 people died in the strike

Cornelius Vanderbilt

An American industrialist and philanthropist, he became associated with the New York and Harlem Railroad in 1867, and became president in 1886. At the same time he began to act as head of the ________ family. He founded the _______

Knights of Labor

An American labor union originally established as a secret fraternal order and noted as the first union of all workers. It was founded in 1869 in Philadelphia by Uriah Stephens and a number of fellow workers. Powderly was elected head of the ______________ in 1883.

Mesabi range

Andrew Carnegie bought an ore company in the newly opened ________ in Minnesota in 1892. The hills contained large deposits of iron ore. The _______ is one of the chief iron-producing regions in the world. Iron production began there in the late 19th century.

J. P. Morgan

Financier who arranged the merger which created the U.S. Steel Corporation, the world's first billion dollar corporation. Everyone involved in the merger became rich. (Vertical consolidation).

Standard Oil

Founded by John D. Rockefeller. Largest unit in the American oil industry in 1881. Known as A.D. Trust, it was outlawed by the Supreme Court of Ohio in 1899. Replaced by the Standard Oil Company of New Jersey.

Gustavus F. Swift

In the 1800s he enlarged fresh meat markets through branch slaughterhouses and refrigeration. He monopolized the meat industry.

James B. Duke

Made tobacco a profitable crop in the modern South, he was a wealthy tobacco industrialist.

John D. Rockefeller

Joined his brother William in the formation of the Standard Oil Company in 1870 and became very wealthy.

Terence Powderly

___________ was an Irish-American leader of the Knights who won many strikes for the eight-hour work day. __________ led the Knights to become a major power in gaining rights for the workers in factories.

George Westinghouse

an American entrepreneur and engineer who invented the railway air brake and was a pioneer of the electrical industry. ____________ was one of Thomas Edison's main rivals in the early implementation of the American electricity system

Frederick W. Taylor

an American mechanical engineer who sought to improve industrial efficiency. He is regarded as the father of scientific management and was one of the first management consultants. He was one of the intellectual leaders of the Efficiency Movement and his ideas, broadly conceived, were highly influential in the Progressive Era.

Gospel of Wealth

book by Andrew Carnegie that argued that the wealthy have an obligation to give something back to society

Andrew Carnegie

decided to build his own steel mill in 1870. His philosophy was simple: "watch the costs and the profit will take care of themselves." At the age of 33, when he had an annual income of $50,000, he said, "beyond this never earn, make no effort to increase fortune, but spend the surplus each year for benevolent purposes."

corporations

form of business in which stockholders own the company, allows for companies to raise large amounts of capital

refrigerated railroad cars

invention that bolstered the meat market and allowed meat to be carried long-distance

U.S. Steel

leading steel producer at the time, first billion-dollar corporation

Bessemer process

process consisted of a shot of air blasted through an enormous crucible of molten iron to burn off carbon and impurities. This new technology, combined with cost analysis, provided a learning railroad experience for Carnegie. The __________ offered a means of driving up profits, lowering cost, and improving efficiency.

time zones

put in place to standardize schedules of trains

mass production

the production of large amounts of standardized products, including and especially on assembly lines

Scientific management

theory of management that analyzed and synthesized work flows. Its main objective was improving economic efficiency, especially labor productivity. It was one of the earliest attempts to apply science to the engineering of processes and to management