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51 Terms

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impact of technical advances on capitalism

led to larger scale productions and opening of new markets

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effects of rapid economic expansion

financial panics spurred reactions from farmers who were most heavily impacted

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immigration during industrialization

increase in urban population

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westward migration and competition

competion for land and resources led to conflict between settlers and natives

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industrial revolution

shift from agrarian economics to industrialized and urbanized societies, significant changes in tech, labor, and communication

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changes in communication

telegraph and telephone allowed for instant transmation of infro long distance

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Transportation advancements

cars airplanes and trains opened new markets through faster transport

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oil

new source of abundant cheap energy to fuel lights and machines

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Bessemer Process

made steel cheaper and and easier to produce, mean larger and stronger facilities

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electricity

allowed for longer operations of business and refrigeration

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new industrial techniques

machines produced parts in bulk, unskilled laborers assembled

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taylorism

increase in efficiency by analyzing and optimizing work process

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effects of mass industry

widespread attempts to organize labor

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monopoly

company that completely dominates a certain industry to reduce competition

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horizontal integration

owning all of one part of a production process

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vertical integration

taking control of all parts of a production process

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trust

set of companies managed by small groups who prevent competition among companies

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laissez fair economics

belief that the market could regulate itself, little to no government interference

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social darwinism

most capable businesses would survive in the economy

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Sherman Anti Trust Act of 1890

landmark federal law that limited government attempts to fix monopolistic competition

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primary settlers in the west

farmers, immigrants, those seeking new opportunities

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impact of the railroad

promoted industrialization and economic growth

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Homestead Act of 1862

provided land to settlers for a small fee in order to promote westward expansion

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farmers economic challenges

growing crops for the market but were forced to rely on loans and became more vulnerable to financial swings

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Indian Removal Act of 1830

authorized forced relocation of Native American Tribes to western territories

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Dawes Act of 1877

offered native americans small plots of land in return for assimilating to american culture

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Battle of Little Bighorn in 1876

sitting bull and crazy horse defeated US troops while defending black hills

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knights of labor

aimed for 8-hr work days, child labor lawd, equal pay, included skilled and unskilled laborers

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American Federation of Labor

similar to knights of labor but less diverse, they focused only on skilled workers

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African American exodusters

former slaves who migrated to west seeking better opportunities, but most remained in debt

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Indian Appropriation Acts of 1851

established modern reservation systems, protected and enclosed indian lands

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Post Civil War

more aggressive stance against natives, tribal sovereignty was viewed as obstacle to national unity and economic expansion

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rise of labor unions

rise of big businesses and changing working conditions led to the formation of unions to advocate for better wages and working conditions

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Eugene Debs

advocated for all workers to unite under one, supported socialism

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Great Railroad Strike of 1877

response to wage cuts and panic of 1873, workers walked off and restricted access, led to better labor unions, established helath care and pensions

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May Day

nationwide strikes for an 8-hr work day

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Haymarket Affair of 1886

violent encounter between between police and labor protesters, caused backlash against immigrants and socialists

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Pullman Strike of 1894

protested wage cuts without rent reduction, shut down railroad traffic until federal troops were sent

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deflationary monetary policy

higher taxes and lower spending, lowers economic growth and lead to decline in spending

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panic of 1873

led to economic slowdown that resulted in wage cuts for railroad workers resulting in strikes and unrest

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gold standard

currency value directly linked to gold, reducing money supply, falling prices made it harder for farmers to pay off debts

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Grange

promoted social and economic needs of american farmers, wanted railroad regulation and storage of grains for price control

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populist movement

reform government and economy through progressive demands, direct election of US senators, graduated income tax, public ownership of railroads

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farmers and inflation

increase prices of products, more access to money, reduce debt value, lower interest,

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bi metalism

use of gold and silver as currency, would contribute to inflation

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1874 Woman’s Christian Temperance Union

era’s largest female organization, with a membership by 1890 of 150,000, moved from advocating against alcohol to womens rights to vote

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Chinese Exclusion Act

excluded all immigrants from China from entering the country, first time race had been used to exclude an entire group of people

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Political Machines/ Boss Tweed

Political machines were a symbol of corruption during the Gilded Age but also provided services to immigrants and marginalized communities

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Urban Reformers

The main takeaway was that Urban Reformers, such as Jane Adams, helped create institutions like settlement houses which helped bring about reform, education, and essential resources,

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Plessy V. Ferguson

segregation made legal and constitutional, “separate but equal”, Jim Crow laws

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European Immigration

Americans were prejudiced against immigrants even if they were white, scared of their influence on politics and the economy