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CHAP 24 APUSH

When private railroad promoters asked the United States government for subsidies to build their railroads they gave all of the following reasons
too risky without government help, too costly without government help, private investors would not accept initial financial losses, and impossible to serve military and postal needs without government help.
During the Gilded Age most of the railroad barons built their railroads with
government assistance.
The national government helped to finance transcontinental railroad construction in the late nineteenth century by
providing railroad corporations with land grants.
James J. Hill – Great Norther
Cornelius Vanderbilt – New York Central
Leland Standord – Central Pacific
The only transcontinental railroad built without government aid was
the Great Northerner.
One by-product of the development of the railroads was the
movement of people to cities.
The greatest single factor helping to spur the amazing industrialization of the post-Civil War years was
the railroad network.
The United States changed to standard time zones when the
major rail lines decreed common fixed times so that they could keep their schedules to avoid wrecks.
Agreements between railroad corporations to divide the business in a given area and share the profits were called
pools.
Early railroad owners formed “pools” in order to
avoid competition by dividing business in a particular area.
Efforts to regulate the monopolizing practices of railroad corporations first
came in the form of action by the Supreme Court.
The first federal regulatory agency designed to protect the public interest from business combinations was
the Interstate Commerce Commission.
One of the most significant aspects of the Interstate Commerce Act was
that it represented the first large-scale attempt by the federal government to regulate business.
After the Civil War
the plentiful supply of unskilled labor in the United States helped to build the nation into an industrial giant.
One of the methods by which post-Civil War business leaders increased their profits was
increased competition.
Andrew Carnegie –
vertical integration
John D. Rockefeller –
trust
J. Pierpont Morgan –
interlocking directorate
Andrew Carnegie –
steel
John D. Rockefeller –
oil
J. Pierpont Morgan –
banking
James Duke –
tobacco
The steel industry
owed much to the inventive genius of Henry Bessemer.
J.P. Morgan undermined competition by
placing officers of his bank on the boards of supposedly independent companies that he wanted to control. This method was known as an interlocking directorate.
America’s first billion-dollar corporation was
United States Steel.
The first major product of the oil industry was
kerosene.
The oil industry became a huge business with the
invention of the internal combustion engine.
John D. Rockefeller used all of the following tactics to achieve his domination of the oil industry
employing spies, extorting rebates from railroads, pursuing a policy of rule or ruin, and using high-pressure sales methods.
The “gospel of wealth” which associated godliness with riches encouraged
many millionaires to help the poor.
To help corporations the courts ingeniously interpreted the Fourteenth Amendment which was
designed to protect the rights of ex-slaves, so as to avoid corporate regulation by the states.
The Fourteenth Amendment was especially helpful to giant corporations when
defending themselves against regulation by state governments.
The Sherman Anti-Trust Act was
at first primarily used to curb the power of railroad corporations.
During the age of industrialization the South remained
overwhelmingly rural and agricultural.
The South’s major attraction for potential investors was
cheap labor.
In the late nineteenth century tax benefits and cheap nonunion labor especially attracted
textile manufacturing to the “new South.”
Many Southerners saw employment in the textile mills as the
only steady jobs and wages available.
One of the greatest changes that industrialization brought about in the lives of workers was
the need for them to adjust their lives to the time clock.
The group most affected by the new industrial age was
women.
Despite generally rising wages in the late nineteenth century industrialworkers were extremely vulnerable to all of the following
economical swings and depressions, employers’ whims, sudden unemployment, and illness and accident.
The image of the “Gibson Girl” represented a
romantic ideal of the independent and athletic “new woman.”
Most women works of the 1890s worked for
economic necessity.
A closed shop is least similar to
lockout yellow dog contract, blacklist and company town.
Generally the Supreme Court in the late nineteenth century interpreted the
Constitution in such a way as to favor corporations.
National Labor Union
a social-reform union killed by the depression of the 1870s
Knights of Labor
the “one big union” that championed producer cooperatives and industrial arbitration
American Federation of Labor
an association of unions pursuing higher wages, shorter working hours, and better working conditions
In its efforts on behalf of workers the National Labor Union won an
eight-hour day for governing workers.
One group barred from membership in the Knights of Labor was
Chinese.
The Knights of Labor believed that conflict between capital and labor would
disappear when labor would own and operate businesses and industries.
The Knights of Labor believed that republican traditions and institutions could be preserved from corrupt monopolies by
strengthening the economical and political independence of the workers.
One of the major reasons the Knights of Labor failed was its
lack of class-consciousness.
The most effective and most enduring labor union of the post-Civil War period was the
American Federation of Labor.
By 1900 American attitudes toward labor began to change as the
public came to recognize the right of workers to bargain collectively and strike. Nevertheless, the vast majority of employers continued to fight organized labor.
By 1900 organized labor in America had begun to
develop a more positive image with the public.
The people who found fault with the “captains of industry” mostly argues that
these men built their corporate wealth and power by exploiting workers.
Even historians critical of the captains of industry and capitalism generally concede that
class-based protest has never been a powerful force in the United States because America has greater social mobility than Europe has.
All of the following were important factors in post-Civil War industrial expansion
a large pool of unskilled labor, an abundance of natural resources, American ingenuity and inventiveness, and a political climate favoring business.

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