Chapter 17 An Industrial Giant Emerges – Flashcards

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By the end of the nineteenth century, U.S. industrial capacity
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dwarfed both Great Britain's and Germany's.
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In the 25 years after the Civil War, railroads
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were probably the most significant element in American economic development.
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The emphasis in railroad construction after 1865 was on
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organizing integrated systems.
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In the late nineteenth century "Commodore" Cornelius Vanderbilt, Thomas A. Scott, and Jay Gould organized
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complex, transcontinental railroad lines.
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Following the Civil War, most southern railroad systems were
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controlled by northern capitalists.
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American land-grant railroads in the late nineteenth century
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sent agents overseas to recruit likely settlers and purchasers of railroad land.
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After the railroads, the second most important development in America's industrial advance in the late nineteenth century was the transformation of
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iron manufacturing.
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The ________ process directed a stream of air into a mass of molten iron, burning off impurities, and greatly lowered the price of steel.
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Bessemer
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Technological changes in the petroleum industry in the late nineteenth century
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occurred rapidly and put a premium on refining efficiency.
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Known as the "Wizard of Menlo Park," the inventor of the phonograph and the electric light bulb was
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Thomas A. Edison.
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Which of the following interests of Alexander Graham Bell's led to the invention of the telephone?
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deaf education
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What was the relationship between competition and monopoly in American industry during the post-Civil War era?
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deflation combined with fierce competition to cause expansion to lead to concentration
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From 1873 to 1893, the economy was characterized by
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intense competition for markets.
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Railroads commonly encouraged large shippers to use their lines by
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giving them rebates.
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As a result of the intense competition among railroads,
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the railroads were unstable financially and vulnerable to any downturn in the business cycle.
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The first giant corporations, capitalized in the hundreds of millions of dollars, were
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steel corporations.
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Andrew Carnegie dominated the ________ industry.
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steel
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Andrew Carnegie was one of the first great tycoons to realize the importance of
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developing technological improvements.
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When J. P. Morgan assembled United States Steel, he
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formed the first billion-dollar corporation.
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By the middle of the 1880s, ________ monopolized the oil industry in the United States.
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John D. Rockefeller
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John D. Rockefeller's success was due primarily to his
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bold planning and risk-taking.
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The theory of evolution by natural selection, which helped Americans justify their exploitation of others, was the work of
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Charles Darwin.
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In general, as industry expanded
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Americans saw economic regulation as a way to release human energy and increase the area in which business could freely operate.
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A prominent advocate of social Darwinism, William Graham Sumner was identified with the phrase
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"it's root, hog, or die."
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Most Americans reacted to the growth of huge industrial and financial organizations and the increasing complexity of economic relations by
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fearing monopolistic power, yet being greedy for all the new goods and services.
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Henry George, author of Progress and Poverty, advocated
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laissez-faire economics.
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Henry George, Edward Bellamy, and Henry Demarest Lloyd were all late-nineteenth-century
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radical reformers.
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The novelist who described America evolving into an ideal socialist state was
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Edward Bellamy.
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Which of the following compared nineteenth-century society to a stagecoach in which the favored few rode in comfort while the masses pulled them along life's route?
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Edward Bellamy
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In The Cooperative Commonwealth, Laurence Gronlund
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provided the first serious attempt to explain the ideas of Karl Marx to Americans.
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The National Grange of the Patrons of Husbandry was founded in 1867 by
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Oliver H. Kelley.
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Granger-controlled legislatures attempted to
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regulate railroad rates.
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The Supreme Court decision in the Wabash case concerned
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early railroad regulation.
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The federal regulatory board, established in 1887 by Congress to supervise the affairs of railroads, investigate complaints, and issue "cease and desist" orders against railroads acting illegally, was the
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Interstate Commerce Commission.
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The creation of the Interstate Commerce Commission in 1887
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challenged the philosophy of laissez-faire.
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In 1890, Congress tried to restore competition by outlawing the restraint of interstate trade by corporate monopolies with the ________ Act.
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Sherman Antitrust
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The Sherman Antitrust Act was drastically limited by the Supreme Court in
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United States v. E. C. Knight Company.
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"Doubtless the power to control the manufacture of a given thing involves, in a certain sense, the control of its disposition...the exercise of that power may result in bringing the operation of commerce into play, it does not control it, and affects it only incidentally and indirectly." The source of this quote is
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United States v. E. C. Knight Company.
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The first union to welcome blacks, women, and immigrants into its ranks was the
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Knights of Labor.
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As a result of the ________, membership in the Knights of Labor declined quickly because the public associated unions with violence and radicalism
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Haymarket Square riot
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Established in 1886, the ________ was the prime example of "bread and butter" unionism.
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American Federation of Labor
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The dramatic labor troubles of 1877 were
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more violent and destructive than any previous strike in America.
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The leader of the American Railway Union in its dramatic 1894 strike against the Pullman Palace Car Company was
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Eugene Debs.
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President Cleveland intervened in the Pullman strike on the pretext that
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the mail had to be delivered.
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In the late nineteenth century, wealth, power, and influence were
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increasingly concentrated among the largest financiers.
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As a result of the centralization and concentration of industry in the late nineteenth century,
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efficiency increased in industries which produced high-quality handmade goods.
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In the late 1800s, the courts seemed most concerned with protecting
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the interests of the rich and powerful.
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