Studied by 34 people
Protective Tariff
A tax placed on imported goods for the purpose of raising thee price of imports as high as or higher than the prices for the sane item reduced within the nation.
Homestead Act
Law passed by congress in 1862 that promised ownership of 160 acres of public land to any citizen who lived on and cultivated the land for 5 years.
Land-Grant College Act (1862)
Act of Congress that gave land to states to be used to fund public universities that were to offer courses in engineering and agriculture and to train military officers.
University of Missouri Columbia (Mizzou)
What was the first Land-Grant College?
Agriculture
The expanding and industrializing economy rested on what base?
Improved Transportation
What speeded the expansion of agriculture by making it possible to move agricultural produce over long distances.
Iron an steel
Agricultural expansion stimulated the farm equipment industry and in turn the ___ and _____ industry?
1869- connected CA to Omaha, NE
When and where was the first transcontinental railroad completed?
The federal government
Who funded the expansion of railroads very generously?
Pacific Railroad Act
Act of Congress in 1862 that gave loans and land to the Central Pacific and Union Pacific Railroad companies to subsidize construction of a rail line between Omaha and the Pacific Coast
Chicago
What midwestern city emerged as a center for railroads both regionally and nationally? Also made it a center for mail-order sales.
Railroads
The expansion of ______ created the potential for a nationwide market, stimulated the economic development of the West, and created a demand for iron, steel, locomotives, and similar products.
Railroads
What was the first big business to seek investors nationally and internationally?
Investment bankers
Who railroad executives often turn to to fund construction?
J.P. Morgan
Most prominent and powerful American investment banker. Often demanded a seat on the board of directors to guard against risky decisions in the future.
Andrew Carnegie
In 1875, ______ used a loan from J.P. Morgan’s father to construct the nation’s largest steel plant.
Andrew Carnegie
Who used vertical integration to beat out his competition?
Vertical Integration
The process of bringing together into a single company several of the activities involved in creating a manufactured product.
Social Darwinism
The philosophical argument that competition in human society produced “the survival of the fittest” and therefore benefitted society as a whole.
Gospel of Wealth
Andrew Carnegie’s idea that the very rich should spend or disburse their wealth to help people help themselves.
John D. Rockefeller
Who used horizontal integration to beat out his competition?
Horizontal Integration
Merging one or more companies doing the same or similar activities as a way of limiting competition.
Standard Oil
John D. Rockefeller’s massive Oil company which primarily refined kerosene
Creating the Standard Oil Trust
How did John D. Rockefeller and his associates centralize decision making?
Thomas Edison
American Inventor who created the lightbulb and phonograph
New South
Term used by some southerners to promote the idea that the South should become industrialized, have a more diverse agricultural focus, and be throughly integrated into the economy of the nation. Promoted a more diverse economic bases.
Henry Grady
Leading proponent of the concept of a New South.
Guns and horses
What two things did settlers introduce to Native Americans that changed the natives culture and way of life drastically?
Horse Culture
Nomadic way of life of those native Americans mostly on the Great Plains for whom the horse brought significant changes in their ability to hunt, travel, and make war.
Lakotas
Large confederation of Sioux-speaking Indian peoples, nomadic buffalo hunters who lived on the northern Great Plains.
Medicine Lodge Treaties and Fort Laramie Treaty
What were the two treaties that natives ‘signed’ which set aside reservations for themselves?
William Sherman and Philip Sheridan
American generals who went to war against ant natives revisiting relocation?
Crazy Horse
Lakota war leader who resisted white encroachment in the Black Hills and fought at Little Big Horn
Sitting Bull
Lakota war leader
Great Sioux War
War between the U.S. Army and the tribes that took part in the Battle of Little Bighorn; it ended in 1881 with the surrender of Sitting Bull
Little Bighorn River
River in MT where in 1876, Lt.Col. George Custer attacked a large Indian encampment. Custer and most of his force died in battle.
Chief Joseph
New Perce chief who led hi people in an attempt to escape Canada in 1877; after a grueling journey, they were forced to surrender and were exiled to Indian territory.
Ghost Dance
Indian religion centered on a ritual dace; it held out the promise of an Indian messiah who would banish the whites, bring back the buffalo, and restore the land to the Indians.
Wounded Knee Creek
Site of a conflict in 1890 between a band of Lakotas and U.S. troops, Indians massacred. Last major encounter between Indians and the U.S. Army
Chinese
What group of immigrants contributed significantly to the construction of railroads?
Bring cattle to the Midwest markets for trains
What was the purpose of cattle drives?
1890s
When did cattle drives end?
Railroads
In the wake of ______, cattle raising, mining, farming, and lumbering all expanded rapidly.
Lumber
What natural resource was harvested in the northwest?
Reclamation Act
Law passed by Congress in 1902 that provided funding for the irrigation of western lands and created the Reclamation Service to oversee it.
Sierra Club
Environmental Organization formed in 1892; now dedicated to preserving and expanding parks, wildlife, and wilderness areas.
San Francisco
What city emerged as a metropolis of the west-commercial, financial, and manufacturing center for the region.
Financial Panic
Widespread anxiety about financial and commercial matters; in a panic, investors often sold large amounts of stock to cut their own losses, which drove prices much lower. Banks often called in their loans, forcing investors to sell assets at reduced prices, further driving down the stock prices.
J.P. Morgan buys out Andrew Carnegie and forms United States Steel- first billion dollar corporation
Best example of the merger movement that resulted from the economic depression from 1893-1897
Make the industry stable so that investments would yield predictable dividends
Make the industry efficient and productive so that dividends would be high.
What two things did investment bankers seek in reorganizing an industry?
