Crash Course US History: Industrial Economy – Flashcards
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One-Third
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Compared to Great Britain, what was the US industrial output prior to the Civil War?
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What did the Pacific Railway Act of 1862 approve?
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Building a transcontinental railroad
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The US was poised for an industrial boom following Reconstruction because of G.D.L...what do those letters stand for?
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Geography, Demography, Law
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Name at least two natural resourses the US had an abundant amount of, which greatly aided in industrialization.
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Coal, Iron, Oil, Water, People
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What major factor led to the huge increase in US population growth from 1870-1920?
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Massive immigration from both Europe and Asia
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List the following cities in the US by the year 1900: 1) Center of commerse/trade; 2) Second largest city; 3) Leader in oil refining; 4) Leader in iron/steel production
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New York; Chicago; Cleveland; Pittsburgh
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Between factory workers and owners, who benefited most from US laws initially during this era?
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Factory owners
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List one way that the US government promoted industry.
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1) Tariffs on Steel; 2) Massive land grants to railroads; 3) Native Americans placed on reservations
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In what year did the majority of the workforce work in non-farming jobs?
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1880
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In what year did the US produce 1/3 of the world's total industrial output?
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1913
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What was invented by the US railroad companies to make shipping easier and more relilable?
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Time Zones
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What was the name of the man who began selling watches to railroad workers, and then parlayed that into the nations first mail order catalog company?
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Richard Sears (and his partner Roebuck)
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Name at least one man who made millions in the railroad industry.
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Vanderbilt, Carnegie, Stanford
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Who did John Green incorrectly guess was the author of the mystery document?
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Ida Tarbell
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What two titles (opposite in nature) were the leaders of businesses known by at this time?
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Titans of Industry (good) or Robber Barons (bad)
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Which "robber baron" became the richest man in the world?
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John D. Rockefeller
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What company was the nation's first "trust"?
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Standard Oil
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When a firm buys ALL means of production (raw materials, transportation, labor, production, distribution, etc)?
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Vertical Intergration
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When a firm buys out all of it's competitors, thus giving them a monopoly of that product/ service?
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Horizontal Intergration
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The Federal government eventually made Standard Oil break up into twenty smaller companies, which today have formed the core of what corporation?
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Exxon Mobile
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Who founded US Steel, and who eventually bought it?
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JP Morgan founded US Steel, and eventually sold it to Andrew Carnegie
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How many American's died on the job in 1890?
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35,000 (#1 in the world)
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What is an organization of workers designed to protect its members against the abuse of owners?
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Labor union
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What was the first labor union in the US?
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Knights of Labor
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The Knights of Labor was blamed for a riot that killed both police and bystanders at what location?
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Haymarket Square
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What was America's second labor union? Who was its founder?
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American Federation of Labor (AFL); Samuel Gompers
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The American Federation of Labor focused on what three issues for it's members?
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Pay, Hours, Working Conditions
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What theory stated that businesses evolved much like animals; those that were superior would succeed, and those that were inferior would fail.
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Social Darwinism
