Apush Ch 24 Flashcard
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How did the government benefit from providing land grants?
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It got preferential rates for postal service and military traffic and avoided paying the taxes that came with cash grants so therefore it was "cheaper".
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What two railroad companies secured monetary loans from the federal government?
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The Union Pacific and the Central Pacific
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What transcontinental railroad did not get a land grant?
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The Great Northern Railroad of 1893
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Who was James J. Hill?
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A Canadian-American who was probably the greatest railroad builder of all; He created the Great Northern railroad and believed that prosperity of the railroad depended on prosperity of the area surrounding it.
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What were two significant new improvements in the railroad industry?
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The steel rail (safer and more efficient) and the standard gauge of track width (standardized rails eliminating line changes).
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What are some ways that the new railways revolutionized America?
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United the country in a physical sense. Increased industrialization and immigration. Impacted the environment all over the country. Created big cities. Created a bigger domestic and foreign market. Led to time zones and millionaires.
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What is a "pool"?
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An agreement to divide the business in a given area and share the profits. It was the earliest form of business combination.
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Why was the Wabash case important?
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The Supreme Court ruled that individual states had no power to regulate interstate commerce (1886). Therefore, making the federal government get involved to end the railroad monopolies.
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How was the Interstate Commerce Act of 1887 a 'red letter' (highly important) law?
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It was the first large-scale attempt by Washington to regulate business in the interest of society at large. It heralded the arrival of a series of independent regulatory commissions in the next century, which would irrevocably commit the government to the daunting task of monitoring and guiding the private economy.
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What were some inventions that brought women into the industrial workforce?
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Telephone, telegraph, type writer, stock sticker, cash register etc.
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Define "vertical integration" and who used this method?
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Combining into one organization all phases of manufacturing from mining to marketing. Carnegie, the steel king used this method.
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Define "horizontal integration" and who used this method?
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Allying with competitors to monopolize a given market. Rockefeller, the oil baron used this method.
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Explain the Bessemer process and why it was beneficial.
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The process involved blowing cold air on red- hot Iron in order to ignite the carbon and eliminate impurities. It was beneficial because it made prices drop and production easier.
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How did Carnegie force Morgan to buy out his $400 million business?
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By threatening to invade his business and ruin him if he did not.
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What was the first major product of the Oil industry?
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Kerosene that replaced Whale oil as a light source.
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What was "Acres of Diamonds"?
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The lecture given a thousand times by Reverend Russell Conwell of Philadelphia. He got rich from doing so.
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17. Why was the Sherman Anti-Trust Act of 1890 ineffective?
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Because it contained legal loopholes that clever corporation lawyers could get around and it made all large trusts suffer, not just bad ones.
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Who formed the American Tobacco Company in 1890?
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James Buchanan Duke
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What single group was most affected by the new industrial age?
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Women.
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What are "ironclad oaths" or "yellow-dog contracts"?
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Legal documents that corporations urged workers to sign, promising that they would not join a labor union.
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About how many members did the National Labor Union, organized in 1866 attract?
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600,000 members.
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Who took over after the National Labor Union pretty much died out in 1877?
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The Knights of Labor took over.
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Who led the Knights of Labor?
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Terence V. Powderly
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What groups did the national Labor Union exclude?
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Chinese and made little effort to include women and blacks.
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What were the two main weapons of the American Federation of Labor was founded by Samuel Gompers in 1886?
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The two main weapons were the walkout and the boycott.
