Industrialization and Gilded Age Key Concepts and Legislation Study Guide

What is the Interstate Commerce Act?

A federal law prohibiting unfair practices by railroads, such as higher rates for shorter routes.

What is the Sherman Antitrust Act?

A federal law to stop monopolies engaging in unfair practices that prevented fair competition.

What was the American Federation of Labor?

A national federation of different craft unions of skilled workers led by Samuel Gompers.

What were Robber Barons?

Entrepreneurs criticized for using ruthless tactics to destroy competition and keep wages low.

What is a monopoly?

A company having complete control over the supply of a product or service.

What was the main reason for antitrust legislation?

To increase competition in business.

What is laissez-faire capitalism?

An economic system where the government does not interfere in business.

How did business leaders try to eliminate competition?

By forming monopolies or trusts.

Why did many business organizations combine into large corporations?

To increase efficiency in production methods.

What was a result of the growth of big business in the late 1800s?

The widening of the economic gap between the rich and the poor.

Why did Mark Twain label the late 1800s as the 'Gilded Age'?

Because of the extremes of wealth and poverty.

Why did labor unions struggle to achieve their goals in the late 1800s?

The government supported business over labor.

What common goal did Samuel Gompers and Terence Powderly share?

To improve working conditions.

What was the major argument against immigrants by labor unions?

They took jobs away from U.S. citizens.

What was one major benefit achieved by labor unions in the late 19th century?

Improved wages and hours.

How did industrialists contribute to economic growth in the late 1800s?

By establishing large corporations.

What kind of legislation would an industrialist running a monopoly oppose?

Antitrust legislation.

What factor helped increase industrialization in the U.S. between 1865-1900?

The expansion of the railroad.

How did the growth of industry affect American society between 1865-1900?

The percentage of Americans living in urban areas increased.

What was the major result of the shift from single proprietorship to corporate organization after the Civil War?

Businesses were able to raise large sums of money.

Why was immigration to the U.S. not restricted prior to 1880?

Industry owners wanted cheap labor and the economy needed unskilled workers.

What did reformers protesting the laissez-faire attitude argue?

That the government should protect society through the regulation of business.