chapter 24 quick study

These flashcards cover key terminology and concepts extracted from the lecture notes on the expansion of railroads and the rise of industry in America.

Transcontinental Railroad

A railroad extending across the continent, completed in 1869, enhancing trade and expansion.

Interstate Commerce Act

1887 legislation that regulated railroad rates and practices, creating the Interstate Commerce Commission.

Stock Watering

Inflating claims about a company's assets and profits to sell stocks at inflated values.

Vertical Integration

A business strategy where a company controls multiple stages of production.

Horizontal Integration

A business strategy where a company acquires or allies with competitors to monopolize a market.

The Bessemer Process

A method for mass-producing steel by blowing air on molten iron to remove impurities.

Plutocracy

A government controlled by the wealthy, often influencing legislation for corporate benefit.

Sherman Anti-Trust Act

1890 law that prohibited business activities deemed anti-competitive, aimed at regulating monopolies.

American Federation of Labor (AFL)

Established in 1886, it represented skilled workers and aimed for better wages and working conditions.

Company Town

A community where a company provides employees with housing and goods, often at a profit.

Labor Unions

Organizations of workers formed to advocate for better wages and working conditions.

Knights of Labor

An early labor organization that sought to include all workers and campaigned for social reforms.