Industrialization/Gilded Age Study Guide

US History

JP Morgan 

Known best for investment banking and creating the world’s first billion-dollar company

John D. Rockefeller

Created trusts and was criticized as a robber baron while serving as the head of the Standard Oil Company (Monopoly)

Andrew Carnegie

The immagrant who made a fortune in steel and donated most of his profits (Philanthropy-giving)

Henry Ford

Utilized the assembly line to mass produce the Model T, making vehicles more accessible to the average American.

Cornelius Vanderbilt

Best known for being a shipping and rail tycoon and for hostile takeovers. (Robber baron activity)

Cartel 

When competitors work together to control the availibillity and prices of a product. (Prevents prices from dropping natrually)

Monopoly

A single company having control over the majority of an entire industry. (Think of the board game, make your competitors go bankrupt)

Social Darnwinism

“survival of the fittest” (the strongest will survive) being applied to the human societies.

Laissez-faire

Government being “hands off” (most buisnesses want this, most of the general public doesn’t) and allowing buisnesses to run however they want.

Scabs

Workers used to break strikes (they would replace the striking workers)

Robber barons

viewed as bad

Captains of industry

veiwed as good

Factor #1

Natural Resources → Coal, Gold, Silver, Oil

Factor #2

Transportation → Increased speed and lower shipping costs with railroads

Factor #3

Technology → Quicker production, less skilled workers needed

Factor #4

Workers → More people to work after the war since they weren’t fighting in the army

Factor #5

 Capital → Aids, marketing, delivery of goods and services, and manufacturing

Factor #6

Helpful government policies → Safer working conditions

 What inventions contributed to the Industrial Revolution?

Some inventions that contributed to the Industrial Revolution include railroads and steam engines.

 How did living and working conditions change due to industrialization?

Living and working conditions included unsafe working conditions, long hours, and child labor.

 How does the Triangle Fire represent some of the work issues at the time?

It showed how bad the working conditions were because it could have been prevented through safety precautions

What issues did 'The Jungle' by Upton Sinclair address regarding the food industry?

Safety issues in the food industry included lack of sanitization was a huge issue in the food industry.  

What was Ellis Island?

A federal immigration station in new york, processing over 12 million immigrants through an inspection process that marked their entry into the US

 What was Angel Island?

The primary immigration station and detention center of the US west coast

What tensions greeted the new immigrants upon their arrival?

The tensions that greeted the new immigrants upon their arrival include economic anxieties, cultural and religious differences, and political backlash from native-born Americans.

8. What happened to immigrants once through Ellis Island? (where did they end up) 

Most immigrants passed through Ellis Island within hours and were free to begin their lives in america

What was a tenement? 

a cheap, multi-family home that was typically overcrowded and housed poor working-class families.

10. What did the Chinese Exclusion Act do? 7.1

it banned the immigration of Chinese laborers to the United States and prevented them from becoming citizens.

11. What was/is a Political Machine? 7.2

A political machine was a party organization that was run by a “boss” or small group with enough influence to control the politics of a city, country, or state.

How did Vanderbilt make his fortune? 

he made his fortune through cutthroat business tactics

Why is the railroad essential to the growth of America?

The railroads are essential to the growth of America by creating a unified national market, faster and cheaper transportation of goods and services.

How did Rockefeller earn his fortune?

he used tactics such as vertical integration, acquiring competitors, aggressive cost-cutting, and negotiating secret, discriminatory rates from railroads.

What happened during the "Panic of 1873"?

 a severe economic collapse triggered by the bankruptcy of Jay Cooke & Company, a major bank heavily invested in railroads, leading to a devastating 4 year depression in the U.S. and europe

 What is a "trust"?

 a legal arrangement where a grantor transfers assets to a trustee to hold and manage for the benefit.

 What was the Pendleton Civil Service Act?

a merit–based system for federal employment, replacing the “spoils system” where jobs were awarded based on political connections rather then qualifications

What were the demands of the Populist Party?

1892 Omaha Platform, focused on economic reforms and increased political power for ordinary citizens, especially farmers and industrial workers

What is the Bessemer Process?

the first industrial method for mass-producing  steel inexpensively by forcing air through molten pig iron to remove impurities like carbon and silicon

How does the Bessemer Process fundamentally change the way construction is completed in the US (and eventually around the world)?

it changed construction by making high-quality,  affordable steel available for the first time