Amstud Period 6 - MKT

Cornelius Vanderbilt

Def: A wealthy industrialist and railroad/shipping magnate

Sig: expansion of railroad helped shape transportation infrastrucutre

Crucial in the consolidation of the American railroad industry, he merged several smaller railroads into the New York Central Railroad, making it one of the most efficient and profitable in the country, his work helped standardize railroad systems and contributed significantly to the economic growth

Transcontinental Railroad

Def: A railroad that spanned the entire width of the United States, connecting the East Coast to the West Coast

Sig: It revolutionized the U.S. economy by facilitating trade, settlement, and the expansion of industries. Displaced native americans, didn’t give chinese credit

Union and Central Pacific RR

Def: two railroads that started from either side of the country —> transcontinental railroad

Sig: The completion of these railroads connected the eastern and western U.S., boosting economic growth, promoting westward expansion

Speculation

Def: The act of making risky investments with the hope of profiting from short-term changes in prices, often involving stocks or real estate

Sig: played a major role in economic booms and depressions. contributing to events like the Panic of 1893

Panic of 1893

Def: A severe economic depression triggered by railroad bankruptcies, over-speculation, and the collapse of several major banks

Sig: widespread unemployment, bank failures, and a collapse in the stock market

Bankruptcy of RR

Def: Many railroads, especially during economic downturns, faced bankruptcy due to over-expansion, over-speculation, and economic collapse

Sig: led to consolidation of the industry, where companies like J P Morgan took control of distressed companies

Industrial Growth

Def: rapid expansion of manufacturing industries in the United States during the late 19th century, including steel, oil, and railroads

Sig: transformed the U.S. into an industrial power, attracting labor from rural areas and immigrants, but also led to poor working conditions, etc

Andrew Carnegie

Def: Scottish-American industrialist and philanthropist who led the expansion of the steel industry in the U S

Sig: revolutionized steel production using the Bessemer Process He became one of the richest men in the world and later gave away most of his fortune to charitable causes, promoting the idea of the "Gospel of Wealth "

Vertical Integration

Def: business model where a company controls all or most aspects of production, from raw materials to finished product

Sig: Popularized by figures like Andrew Carnegie in the steel industry, allowed businesses to dominate industries by eliminating middle men —> monopolies

US Steel

Def: first billion-dollar corporation in U S history, created by the merger of Carnegie Steel with several other companies, led by J P Morgan

Sig: consolidated the steel industry and dominated production It symbolized the increasing scale and power of big business in America during the late 19th century

John D. Rockefeller

Def: Founder of Standard Oil Company and one of the wealthiest men in American history

Sig: Rockefeller’s business practices, including horizontal integration, allowed him to control nearly all of the U.S. oil industry. Led to antitrust laws/legislation

Horizontal Integration

Def: A strategy where a company acquires or merges with other companies in the same industry to reduce competition

Sig: ex. John D Rockefeller's Standard Oil. This approach allowed Rockefeller to gain control of the oil market and establish a near-monopoly

Standard Oil trust

Def: established by Rockefeller, a legal arrangement where multiple oil companies were combined under a single central management to reduce competition and control the oil industry.

Sig: allowed Rockefeller to dominate the oil industry, was later deemed illegal

J.P. Morgan

Def: powerful banker and financier who played a major role in the consolidation of industries, especially railroads and steel

Sig: his role in stabilizing the economy during times of crisis (like the Panic of 1907) made him one of the most influential figures in American finance

Bessemer Steel

Def: process for producing steel by blasting air through molten iron to remove impurities, developed by Henry Bessemer

Sig: revolutionized the steel industry by making steel production faster, cheaper, and more efficient

Second Industrial Revolution

Def: period of rapid industrial growth in the US characterized by innovations in steel, electricity, and communications

Sig: It led to the rise of big business and urbanization, but also sparked labor unrest

Alexander Graham Bell

Def: invented the telephone and founded AT&T

Sig: revolutionized communication

Thomas Edison

Def: inventor and businessman who developed many significant inventions, including the phonograph and the electric light bulb

Sig: transforming cities and the workplace innovations helped fuel the spread of electrical power and the growth of new industries

Packaged Foods

Def: Food products that were pre-packaged and marketed for convenience

Sig: reflected broader trends of mass production and consumerism, showed shift in consumer culture

Mail Order Companies

Def: Businesses that sold goods to customers through catalogs and delivered items by mail, such as Sears, Roebuck & Co

Sig: revolutionized retail by making goods accessible to rural and isolated customers, driving consumer culture

Consumer Economy

Def: Economic system focused on mass production and consumption of goods.

Sig: Led to growth of businesses and mass marketing, transforming American culture

Advertising

Def: Marketing strategies to promote goods and services.

Sig: Key in expanding consumerism and driving economic growth in the late 19th and early 20th centuries.

Federal Land Grants and Loans

Def: Land or financial aid provided by the government to railroads and other businesses.

Sig: Helped stimulate infrastructure development, particularly railroads, fueling economic growth.

Interstate Commerce Act of 1886

Def: Federal law regulating railroad industry: rates and unfair practices.

Sig: Aimed to prevent monopolies and ensure fair trade across state lines. First federal attempt to regulate private industry

Antitrust movement

Def: effort to limit the power of monopolies that restricted competition

Sig: Movement led to legislation like the Sherman antitrust act prevented the concentration of corporate power.

Sherman AntiTrust Act of 1890

Def: Law aimed at breaking up monopolies and trusts that restrained trade.

Sig: First federal law to address monopolies, though enforcement was initially weak

US v E.C. Knight

Def: Supreme Court case where the court ruled that the Sherman Antitrust Act did not apply to manufacturing

Sig: Limited the reach of antitrust laws and allowed monopolies in manufacturing to persist.

Credit Mobilier

Def: A scandal involving railroad companies overcharging the government and bribing politicians

Sig: Highlighted corruption and dishonesty in government and business during the Gilded Age.

Causes of labor discontent

Def: Poor working conditions, low wages, long hours, and lack of job security.

Sig: Sparked labor strikes and movements advocating for better conditions and rights.

Anti-union tactics

Def: Methods used by employers to prevent unionization, such as blacklisting and hiring strikebreakers

Sig: Showed the growing conflict between labor and business owners in the Gilded Age

Railroad Strike of 1877

Def: nationwide strike by railroad workers protesting wage cuts.

Sig: first major national labor strike, showcasing growing tensions between workers and employers

Knights of Labor

Def: national labor organization that advocated for better working conditions and equality.

Sig: Pushed for social reforms, but declined after the Haymarket Bombing and internal conflicts

Haymarket Bombing

Def: bombing during a labor rally in Chicago that killed several and led to violence.

Sig: Damaged the reputation of labor movements, especially the Knights of Labor.

American Federation of Labor

Def: national federation of craft unions

Sig: negotiating better wages and conditions for skilled workers.

Samuel Gompers

Def: Founder and leader of the AFL.

Sig: Advocated for practical, achievable reforms for workers rather than radical changes.

Pullman Strike

Def: nationwide railroad strike led by Eugene Debs, protesting wage cuts at the Pullman Company.

Sig: Highlighted the power of organized labor and the government's siding with businesses during strikes

Eugene Debs

Def: Leader of the American Railway Union

Sig: Advocated for workers' rights and social reforms, later running for president as a Socialist.

Railroad Workers (Chinese, Irish, veterans)

Def: Ethnic groups that provided labor for building railroads in the 19th century.

Sig: expansion of railroads, though faced discrimination and harsh working conditions.

White Collar Workers

Def: Middle-class workers, typically in office or administrative jobs, no physical labor

Sig: growing class in the industrial economy, signifying the rise of a professional workforce.

Expansion of the Middle Class

Def: Growth of a social class with white-collar jobs, between the working class and the wealthy.

Sig: Reflected economic growth, improved living standards, and rising consumerism in the late 19th century.

Factory Wage Workers

Def: Industrial laborers working for wages in factories, blue collar

Sig: mass production but faced harsh conditions, leading to labor reforms. essential in the period

Women and Children Factory work

Def: Women and children employed in factories, often for low wages.

Sig: cheap labor but faced exploitation, leading to labor laws and reforms.

Laissez-faire Capitalism

Def: economic system with minimal government interference. free markets, based on supply and demand

Sig: Encouraged industrial growth but led to worker exploitation and monopolies.

Concentration of Wealth

Def: The accumulation of wealth by a small elite.

Sig: Increased economic inequality and fueled debates on wealth distribution. widened the gap

Social Darwinism

Def: The belief that survival of the fittest applies to society and economics.

Sig: Justified laissez-faire policies and opposed social welfare.

Gospel of Wealth

Def: book by andrew carnigie

Sig: philanthropy but justified wealth inequality.

Great American Desert

Def: A term for the arid western plains of the U.S.

Sig: Initially seen as uninhabitable but later settled due to railroads and new farming techniques

Buffalo Herds

Def: Large populations of bison roaming the Great Plains.

Sig: Essential to Native American survival but decimated by overhunting and westward expansion.

Great Plains

Def: Vast grasslands in central North America.

Sig: Home to Native American tribes and later a major site of U.S. westward expansion.

Chinese Exclusion Act 1882

Def: U.S. law banning Chinese immigration.

Sig: major immigration restriction in the U.S., reflecting anti-Chinese sentiment.

Cattle Drives

Def: movement of cattle from Texas to railheads.

Sig: Fueled the cattle industry but declined with rail expansion and barbed wire.

Homestead Act

Def: A law granting free land to settlers who farmed it for five years.

Sig: Encouraged westward expansion but led to Native American displacement.

Causes of Indian Wars

Def: Conflicts between Native Americans and U.S. settlers/government.

Sig: Driven by land disputes, broken treaties, and westward expansion.

Assimilation

Def: The process of absorbing Native Americans into U.S. culture.

Sig: Led to loss of Native identity and culture through policies like boarding schools.

Little Big Horn

Def: A battle where Sioux and Cheyenne defeated U.S. forces.

Sig: Major Native American victory but led to harsher U.S. retaliation.

Dawes Act of 1887

Def: A law dividing tribal land into individual plots.

Sig: Weakened Native American communities and promoted assimilation.

Ghost Dance Movement

Def: A Native American spiritual movement for renewal.

Sig: Feared by U.S. authorities, leading to the Wounded Knee Massacre.

Indian Reorganization Act of 1934

Def: A law restoring some tribal land and self-government.

Sig: Marked a shift from assimilation to Native American sovereignty.

Forest Reserve Act of 1891

Def: Law allowing the federal government to set aside forest lands.

Sig: Laid the foundation for national forests and conservation efforts.

Forest Management Act of 1897

Law regulating the use of forest reserves.

Allowed for controlled logging while promoting conservation.

John Muir, Sierra Club

Def: Allowed for controlled logging while promoting conservation.

Sig: Advocated for preserving wilderness and national parks.

Agriculture Dominance

Def: The reliance on farming as the main economic activity.

Sig: Led to economic struggles for farmers due to industrialization.

Tuskegee Institute

Def: A Black educational institution founded by Booker T. Washington.

Sig: Focused on vocational training to promote Black economic independence.

Civil Rights cases of 1883

Def: Supreme Court rulings weakening the Civil Rights Act of 1875.

Sig: Allowed racial discrimination by private businesses.

Plessy v Ferguson

Def: Supreme Court case upholding racial segregation.

Sig: Established the “separate but equal” doctrine, legitimizing Jim Crow laws.

Jim Crow Laws

Def: State laws enforcing racial segregation.

Sig: Institutionalized discrimination and disenfranchisement in the South.

Literacy Tests, Poll Taxes, Grandfather Clauses

Def: Methods to restrict Black voting rights.

Sig: Suppressed African American political participation for decades.

Lynch Mobs

Def: Groups that carried out extrajudicial killings, mainly of Black individuals.

Sig: Used as a tool of racial terror and social control.

African American Migration

Def: Movement of Black Americans from the South to other regions.

Sig: Sought better opportunities and escape from racial oppression.

Ida B. Wells

Def: Journalist and activist against lynching.

Sig: Raised awareness and fought for civil rights.

Booker T. Washington

Def: Black leader promoting economic self-reliance.

Sig: Advocated for vocational education over direct civil rights demands.

National Grange Movement

Def: Organization advocating for farmers’ rights.

Sig: Fought against railroad monopolies and unfair pricing.

Granger Laws

Def: State laws regulating railroads and grain storage.

Sig: Helped farmers by limiting corporate power but faced legal challenges.

Munn v Illinois

Def: Supreme Court case upholding state regulation of businesses.

Sig: Allowed states to regulate industries affecting the public interest.

Wabash v Illinois

Def: Supreme Court ruling limiting state regulation of railroads.

Sig: Led to the creation of federal railroad regulations.

Interstate Commerce Commission

Def: First federal regulatory agency overseeing railroads.

Sig: Aimed to prevent unfair business practices but was initially weak.

Ocala Platform of 1890

Def: A set of farmer demands for economic reform.

Sig: Called for lower tariffs, banking reform, and direct elections of senators.

Census of 1890

Def: U.S. population count marking the end of the frontier.

Sig: Influenced Turner’s “Frontier Thesis” on American development.

Frederick Jackson Turner

Def: Historian known for the “Frontier Thesis.”

Sig: Argued that the frontier shaped American democracy and culture.

Boomtowns

Def: Rapidly growing towns due to mining or economic booms.

Sig: Symbolized westward expansion but often declined after resources were exhausted.

New South

Def: Post-Reconstruction vision of an industrialized South.

SigPromoted economic change but maintained racial segregation.

Sharecropping, Tenant Farming

Agricultural systems where farmers worked land for a share of crops.

Trapped many Black and poor white farmers in a cycle of debt and poverty.

Old Immigrants vs New Immigrants

Old immigrants (pre-1880) came from Northern and Western Europe, while new immigrants (post-1880) came from Southern and Eastern Europe.

New immigrants faced greater discrimination and assimilation challenges due to cultural and religious differences.

Statue of Liberty

A symbol of freedom and democracy gifted by France.

Became a welcoming icon for immigrants arriving in the U.S.

Sharecropping, Tenant Farming

Def: Agricultural systems where farmers worked land for a share of crops.

Sig: Trapped many Black and poor white farmers in a cycle of debt and poverty.

Old Immigrants vs New Immigrants

Def: Old immigrants (pre-1880) came from Northern and Western Europe, while new immigrants (post-1880) came from Southern and Eastern Europe.

Sig: New immigrants faced greater discrimination and assimilation challenges due to cultural and religious differences.

Statue of Liberty

Def: A symbol of freedom and democracy gifted by France.

Sig: Became a welcoming icon for immigrants arriving in the U.S.

Immigration Act of 1882

Def: Law imposing restrictions on immigration, including a head tax.

Sig: Marked the beginning of federal immigration control and exclusion policies.

Ellis Island/Angel Island

Def: Immigration processing centers in New York (Ellis) and San Francisco (Angel).

Sig: Ellis Island welcomed mostly European immigrants, while Angel Island detained many Asian immigrants.

Tenements

Def: Overcrowded, poorly built urban housing for immigrants and the poor.

Sig: Highlighted urban poverty and led to housing reform movements.

Political Machines

Def: Corrupt organizations controlling city politics.

Sig: Provided jobs and aid to immigrants in exchange for votes.

Tammany Hall

Def: A powerful Democratic political machine in New York City.

Sig: Led by Boss Tweed, it controlled city politics through corruption and patronage.

Urban Reformers

Def: Activists seeking to improve living conditions in cities.

Sig: Pushed for housing, sanitation, and labor reforms.

Jane Addams

Def: Social reformer and founder of Hull House.

Sig: Helped immigrants through settlement houses and social work.

Settlement Houses

Def: Community centers assisting immigrants and the poor.

Sig: Provided education, healthcare, and job training to urban communities.

Susan B. Anthony

Def: Leading suffragist and women’s rights activist.

Sig: Fought for women’s right to vote and co-founded the National Woman Suffrage Association.

Clarence Darrow

Def: Famous defense attorney known for high-profile cases.

Sig: Defended labor rights and challenged fundamentalism in the Scopes Trial.

WEB Du Bois

Def: African American scholar and civil rights activist.

Sig: Co-founded the NAACP and advocated for immediate racial equality.

Mark Twain

Def: Author known for The Adventures of Huckleberry Finn.

Sig: Criticized social issues and coined the term “Gilded Age.”

Spectator sports

Def: Organized sports like baseball, boxing, and football.

Sig: Reflected urbanization and growing mass entertainment culture.

Mass Circulation of Newspapers

Def: Growth of widely distributed newspapers.

Sig: Expanded public access to news and sensationalized journalism.

Growth of Leisure Time

Def: Increased free time due to shorter work hours and rising wages.

Sig: Led to the rise of entertainment, amusement parks, and mass culture.

Jazz, Blues, Ragtime

Def: Musical genres originating from African American communities.

Sig: Influenced American culture and led to the rise of modern music styles.