The Gilded Age Review Flashcards

A complete set of vocabulary flashcards covering key terms, historical figures, economic concepts, immigration trends, and political cartoons from the Gilded Age study guide.

The Gilded Age

A period from roughly $1870$ to $1910$ marked by massive industrial growth and wealth on the surface, but filled with underlying social problems like poverty; a phrase coined by Mark Twain meaning 'covered thinly with gold'.

Transcontinental Railroad

A continuous railway line completed in $1869$ that connected the eastern United States rail network with the West Coast, linking the economies of the East and West.

U.S. Census

A survey sent out to every citizen in the United States to measure the population; the $1890$ census highlighted extreme population density in cities and massive wealth inequality.

Industrialization

The process of shifting an economy from agricultural-based work to technical, factory, and manufacturing work, creating consumer goods and immense wealth on a large scale.

Urbanization

The growth and development of cities, which accelerated during the late $1800\text{s}$ and $1890\text{s}$, transforming America into a nation of cities.

Laissez-faire

A French term meaning 'To Let Alone' or 'Hands Off', describing a government policy of non-interference with businesses and the economy, resulting in few laws, rules, or regulations.

Capitalism

A money-based economic system in which private citizens own and control property, investing capital into business projects for profit while supply and demand set prices freely.

Free enterprise system

An economic system characterized by unrestrained capitalism where each privately owned business independently decides what and how much to produce without government restrictions.

Corporation

A business organization owned by many investors who contribute capital to help fund the initial expenses and operations of the enterprise.

Monopoly

A business entity or company that controls all or nearly all of the businesses within a specific industry, eliminating market competition.

Trust

A group of corporations managed and run by a single ($1$) board of directors to eliminate competition and increase overall profits.

Robber Barons

A derogatory term used by critics to describe cold and greedy industrial leaders who amassed fortunes by ruthlessly crushing their business competition.

Captains of Industry

A positive term used to describe bold and innovative business leaders who made positive contributions to the economy and society.

Andrew Carnegie

An immigrant industrialist who dominated the steel industry by utilizing the Bessemer Process, built advanced steel mills in Homestead, Pennsylvania, and sold his business in $1901$ to form U.S. Steel Corporation.

Cornelius Vanderbilt

A self-made multimillionaire nicknamed 'The Commodore' who ruthlessly controlled shipping and railroads and was noted for not donating to charities during his lifetime.

J.P. Morgan

A powerful banker and financier who gained control of key industries like steel and railroads by purchasing stock in troubled corporations and eliminating competition.

John D. Rockefeller

The son of a New York peddler who invested in an oil refinery at age $23$, aggressively crushed rivals by slashing prices, and became the wealthiest American in history.

Adam Smith

An $18\text{th}$-century author who wrote 'The Wealth of Nations', introduced the concept of 'The Invisible Hand', and is recognized as the father of modern economics.

The Invisible Hand

An economic theory introduced by Adam Smith proposing that individuals pursuing their own self-interest unintentionally promote the broader economic well-being of society.

Tenements

Overcrowded, cheap, and run-down slum apartment buildings with shared bathrooms where urban laborers and newly arrived immigrants lived.

"Old" immigrants

Immigrants who arrived in the U.S. during the early to mid-$1800\text{s}$, coming primarily from northern and western Europe (such as England, Ireland, and Germany); most were Protestant or Catholic, spoke English, and had experience with democracy.

"New" immigrants

Immigrants who arrived in the U.S. during the late $1800\text{s}$ from southern and eastern Europe (such as Italy, Poland, Russia, and Greece); most were Catholic, Jewish, or Eastern Orthodox, largely unskilled, and non-English speaking.

Nativism

A social perspective or political stance that favors native-born or long-established residents over immigrants, viewing newcomers as a threat to the nation.

Bessemer Process

An industrial method for mass-producing steel from iron, brought to the United States in $1875$ by Andrew Carnegie.

Chinese Exclusion Act

An $1882$ law that banned Chinese laborers from immigrating to the United States, remaining in force until $1943$.

Gentlemen's Agreement

A $1907$ informal agreement where Japan agreed to deny passports to laborers attempting to emigrate to the United States.

Emergency Quota Act

A $1921$ federal statute that dramatically limited the annual number of new immigrants allowed into the United States.

Immigration Act of 1924

A U.S. federal law that severely restricted immigration, particularly targeting and curtailing immigration from eastern Europe.

Progress and Poverty

An $1879$ book written by Henry George that addressed the enigma of poverty increasing alongside modern industrial progress.

Ellis Island

The primary East Coast immigration processing center located near Manhattan in New York, handling millions of European immigrants.

Angel Island

The principal West Coast immigration processing facility located in California, handling Asian immigrants entering the U.S.

Looking Backward (Political Cartoon)

An $1893$ political cartoon by J. Keppler depicting wealthy, established Americans trying to block new immigrants from entering, contrasted against the shadows of their own poor immigrant ancestors.

History Repeats Itself (Political Cartoon)

A political cartoon comparing modern industrial monopolists and trust leaders taking tribute from workers to medieval robber barons extracting wealth from peasants.

The Hand That Will Rule the World (Political Cartoon)

A $1917$ political cartoon published in Solidarity illustrating collective labor strength and industrial unionism under 'One Big Union'.