Important Terms

Political Parties

groups that help elect people and shape policies

Federalists

strong federal govt.; party founded by Alexander Hamilton

Democratic-Republicans

• limited federal govt.; party founded by Thomas Jefferson

Nation’s First Capital

NYC

Articles of Confederation Capital

Annapolis

Only Federalist President

John Adams

Only President that won all electoral votes

George Washington

First President Inaugurated in DC

Thomas Jefferson

Warhawks

wanted war against Britain again due to shipjacking

First President to be born a citizen

Martin Van Buren

Whig Party

• Major American political party

• Existed from 1834 to the mid-1850s

• Beliefs

  • Positioned Andrew Jackson as “King Andrew”

    • Against his Presidency

  • Supported protective tariffs to support domestic manufacturing

  • Powerful Congress over a strong presidency

  • Not strictly abolitionist, but many members were anti-slavery

Occasions where people running for President won the popular vote but lost the electoral vote

• Adams - Jackson 

• Hayes - Tilden

• Harrison - Cleveland

• Bush - Gore

• Trump - Clinton

Corporation

a legal entity that is separate and distinct from its owners

Pools

competing businesses trying to control the market

• 1887 → Interstate Commerce Act

Trusts

when someone else manages the company’s financial affairs

Vertical Integration

• controlled all means of production and raw materials; Rockefeller did this with oil:

1. Oil well

2. Oil trucks for distribution

3. Oil storage/refinery

4. Trucks for distribution

5. Selling point

Horizontal Integration

• Control all products and services of the same type. Ex:

  • All railroad companies

  • All airlines

  • All oil wells

• Gustavus Swift → Meat-packing

• Andrew Carnegie → U.S. Steel