US History Chapter 13

Why was America on the verge of becoming an industrial powerhouse following the Civil War?

? Inventors, scientists, and business leaders created an explosion of inventions and improvements. A new technological revolution energized industry and changed people's lives forever. (Innovation)

Invented the telephone-

Alexander Graham Bell

Amassed a fortune in the steel industry; preached the Gospel of Wealth-

Andrew Carnegie

An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state-

Capitalism

Loose association of business that make the same product-

Cartel

Process in which workers negotiate as a group with employers-

Collective bargaining

The process of industrialization and urbanization was a main attraction for immigrants to the US. The contract labor law of 1864 established a policy of encouraging immigration by supporting companies who would provide passage to their workers in exchange for labor-

Contract Labor Act in 1864

Amassed a fortune in the shipping industry-

Cornelius Vanderbilt

Way of producing in which different tasks are performed by different persons-

Division of labor

Set up America's first oil well in Titusville, PA-

Edwin Drake

How did improvements in electricity impact business and daily life?

Electricity was cheaper and more efficient than other power sources. It allowed for new machines to work in factories, and allowed for (electric) appliances to be utilized in the home.

One of the most famous labor leaders; lead the Pullman strike-

Eugene V. Debs

Why did many children leave school to work in factories?

Families could not afford the cost of living w/o the salary of their children.

Identify 5 ways that railroads played a key role in revolutionizing business and industry in the United States.

Faster means of transporting goods, lower costs of production, creation of national markets, served as a model for big business, stimulated other industries

List 5 ways that employers tried to stop labor unions.

Forbidding Union meetings, firing union organizers, forcing new employers to sign yellow dog contracts vowing never to join a union, refusing to bargain collectively when strikes did occur, refusing to recognize unions as workers' legitimate representatives.

Created alternating current-

George Westinghouse

Andrew Carnegie message he put in books and speeches "People should be free to make as much money as they can. After they make it, however, they should give it away."-

Gospel of Wealth

Invented a process of making stronger steel, thus sparking a new age of American construction-

Henry Bessemer

His attempted assassination sparked the Homestead Strike-

Henry Frick

The process of bringing together many firm in the same business to form one large company-

Horizontal consolidation

What modern conveniences were missing from daily life in 1865?

Indoor electric lighting, refrigeration, fast long distance communication

Union that organizes workers from all crafts in a given industry-

Industrial union

Wrote Children of the Poor-

Jacob Riis

Amassed a fortune by forming Standard Oil-

John D. Rockefeller

Wrote the Communist Manifest-

Karl Marx

What problems did workers face in the factory system?

Life ruled by the clock, strict management, unsafe conditions, deafening noise, fatigue, poor equipment, poor training, fires, work related accidents.

The exclusive possession or control of the supply or trade in a commodity or service-

Monopoly

A market structure dominated by only a few large, profitable firms-

Oligopoly

A license that gives an inventor the exclusive right to make, use, or sell an invention for a set period of time-

Patent

System in which workers are paid not by the amount of time worked but by the number of items they produce-

Piecework

The amount of goods and services created in a given period of time-

Productivity

Place where Central Pacific president Leland Stanford raised his hammer to drive the final golden strike into position-

Promontary Summit (point) Utah

Compare the term Robber Baron with that of Captains of Industry (How do they paint different pictures of industrialists?)

Robber Barons was the term given to the industrialists by those who felt that they, industrialists, gained wealth by exploiting their workers. Captains of industry were names given to the industrialists by their supporters.

Leader of the American Federation of Labor-

Samuel Gompers

Invented the telegraph-

Samuel Morse

Law passed by Congress in 1890 that outlawed any combination of companies that restrained interstate trade or commerce-

Sherman Anti-trust Act

Prior to the transcontinental railroad, what were problems facing the rail travel?

Short rail lines, no standard track width, dangerous overland travel, no standard system of signaling, brakes that often failed.

What did social Darwinists feel would happen if government didn't interfere with competition?

Social Darwinists believed that the government should stay out of private business because there was a survival of the fittest in the business industry, and only the strong would survive. Government intervention would upset the natural selection of the business.

An economic and political philosophy that favors public (or social) instead of private control of property and income-

Socialism

Factory where employees work long hours at low wages and under poor working conditions-

Sweatshops

Leader of the Knights of Labor-

Terence Powderly

How was the transcontinental railroad funded? Who were the workers that built it?

The Federal Government funded the transcontinental railroad because they saw more of a benefit than private investors. Mostly Irish and Chinese immigrants.

Who controlled most of the wealth in the US, as a result of industrial growth?

The majority of America's wealth was in the hands of the wealthy few.

What were 5 reasons that big business differed from earlier forms of business in the US?

There were larger pools of capital, wider geographic spans, broader range of operations, revised roles of ownership, new methods of management.

How did industrialists attempt to gain a competitive edge over their competition?

They attempted to pay as little as possible to their workers, raw material, and shipping.

Why did the government (state) fear Rockefeller's attempt to buy out his competition?

They felt that he would reduce competition and hold back free trade.

According to critics, how did trusts and monopolies hurt the free enterprise system?

They limited industrial competition

"Wizard of Melno Park", created the filament lightbulb and thousands of other inventions-

Thomas Edison

Identify problems with the railroad and positives of the railroad.

Trains were noisy, dirty, uncomfortable, spewed smoke and cinders from the exhaust. However, they still carried passengers from coast to coast, steel rails replaced weaker iron rails, tracks and signals became standardized, communication systems were added, towns were created on the rail lines, towns sprung up near the rail lines.

Railway extending from coast to coast-

Transcontinental railroad

A group of separate companies that are placed under the control of a single managing board-

Trust

Process of gaining control of the many different businesses that make up all phases of a products development-

Vertical consolidation

How did Westinghouse's work with Alternating Current (AC) improve electricity?

Westinghouse 's work allowed for electric power to be brought over longer distances. This was an improvement over Edison's, short distance, direct current.

The invention of the telegraph launched a communication revolution by

allowing people to be connected over long distances. Many who migrated to America, were able to keep in contact with those that they left behind.

Derived from Darwin's theory of natural selection, the belief that society should do as little as possible to interfere with people's pursuit of success-

social Darwinism