History - Chapter 14

Andrew Carnegie

Implemented the widespread of steel throughout the U.S.

John D. Rockefeller

Found the abundance of oil in the United States

J.P. Morgan

- Helped find companies such as the General Electric and U.S. Steel

- Aided the construction of railroads

Cornelius Vanderbilt

Advocate for the implementation of railroads and owned many himself

Horizontal Integration (Industrial Consolidation)

Merging of industries to provide an abundance of goods & services

Vertical Integration

One entity acquires of more supplies and retailers to increase profits and to obtain greater control

Henry Bessemer

Invented the Bessemer process in which you would inject air into molten iron to remove impurities in steel and oil

Edwin L. Drake

First man to successfully drill for oil by using a steam engine

Thomas Alva Edison

Invented the light bulb

Christopher Sholes

Invented the typewriter

Alexander Graham Bell

Invented the telephone

Transcontential Railroad

Railroad line linking the Atlantic and Pacific coasts of the United States

George M. Pullman

- Invented sleeping car

- Created Pullman Town & Pullman Bucks

Credit Mobiler

Representatives of Congress gave a railroad company 2-3x the amount of the profits

Munn v. Illinois

- Allowed states (or the people/laborers & farmers) to regulate railroad businesses

- Granger laws

Eugene V. Debs

Formed the American Railway Union which included both skilled and unskilled laborers

Mary Harris Jones

- Known as Mother Jones

- Fought for the rights of women and children

- Created the United Mine Workers of America (UMW)

Social Darwinism

The belief of "survival of the fittest"

Laissez Faire

Government should not make rules to control business

Capitalism

An economic system where the elite own and control property

Feudalism

A political system of exchanging land for loyalty and protection

Monopoly

Complete control of an industry by one company, ultimately reducing competition

Robber Barons

Industrialists who grew wealthy unethically

Samuel Gompers

Led the Cigar Makers' International Union & American Federation of Labor (AFL)

Socialism

System based in government which controls equal distribution of wealth

William "Big Bill" Haywood

Leader of the Industrial Workers of the World (IWW)

Interstate Commerce Act

- Reestablished the right of the government to supervise railroads

- Implemented a five member committee

Sherman Antitrust Act

- First federal action against monopolies

- Made it illegal to form a trust that interfered with free trade between states

- Backfired because they didn't define what a monopoly is

Triangle Shirtwaist Fire

A factory fire that killed 146 women trapped in a building

Captains of Industry

Men in charge of big businesses

American Federation of Labor

Negotiated representatives to provide better conditions and wages for laborers

Industrial Workers of the World

Aimed to unite the American working class into one union whilst aiding laborers who faced prejudices from the wealthy

Great Strike of 1877

- Railroad workers protested against wage cuts & underpayment

- Formed the American Railway Union and created a strike

- Shipping and travel stopped for 50,000 miles and President Hayes had to send troops to stop the strike