Apush Chapter 24 Summary
Ch. 24
1. Leland Stanford- He was one of the "Big Four" who backed the Central Pacific Railroad. He was the ex-governor of California with useful political connections.
2. Collis P. Huntington- He was one of the "Big Four" who was an adept lobbyist.
3. James J. Hill- He created the Great Northern railroad and was the greatest railroad builder of all time.
4. Cornelius Vanderbilt- He was the head of New York Central railroad and he financed successful western railroads.
5. Jay Gould- He made millions of dollars by embezzling stocks from several railroad companies.
6. Alexander Graham Bell- He invented the telephone which launched a new age.
7. Thomas Edison- He was the "Wizard of Menlo Park" who invented the electric light …show more content…
bulb and had many other inventions as well.
8. Andrew Carnegie- He used vertical integration, mined, transported, and refined iron/steel to maximize profits. He donated $350 million to charities, libraries.
9. John D. Rockefeller- He used "horizontal integration" and allied with or bought out competitors to gain a monopoly; monopolized oil.
10. J. Pierpont Morgan- He made a fortune in banking and Wall Street, He bought Carnegie's steel company at $400 million and turned it into United States Steel Corporation, the world's first billion dollar corporation. He used interlocking directorates.
11. Terence V. Powderly- He was the leader of the Knights of Labor; eloquent, but inconsistent.
12. John P. Altgeld- A Democrat, governor of Illinois, pardoned 3 Knights of Labor after a bombing incident.
13. Samuel Gompers- He founded the American Federation of Labor and demanded better wages, hours, and working conditions.
14. Land grant- This was given by the government to railroad companies to build railroads on; encouraged many railroads, including multiple transcontinental railroads.
15. Stock watering- This was a method of cheap money making; over-inflated railroad stocks and then sold them at huge profits.
16. Pool- These were modern day trusts; group of competitors working together usually to set prices. 17. Rebate- This helped the wealthy but not the poor; rail barons gave them to powerful shippers in exchange for using their railroads consistently.
18. Vertical integration- This was controlling the entire production line to maximize profits e.g. mining, shipping, and refining iron.
19. Horizontal integration- This was controlling the entire market to maximize profits e.g. creating a monopoly.
20. Trust- These were giant, monopolistic corporations.
21. Interlocking directorate- This was a process of placing men from your company on the board of directors of other competing companies to gain influence and reduce competition.
22. Capital goods- These were goods used to make other goods.
23. Plutocracy- This was rule by the wealthy; money equals power.
24. Injunction- This was a method used by corporations to handle strikes; a court order against strikers to get them to stop striking.
25. Union Pacific Railroad- This was the eastern side of the first Transcontinental Railroad; commissioned by Congress in 1862.
26. Central Pacific Railroad- This was the western side of the first transcontinental railroad; used Chinese workers.
27. Grange- This was formed by farmers to prevent corruption, such as the railroad monopoly; they were stopped after the Wabash case ruling.
28. Wabash case- This was a Supreme Court case that lead to a huge diminishment of state rights in 1886 involving interstate commerce.
29. Bessemer process- This was the first inexpensive industrial process for the mass production of steel and pig iron, patented in 1855.
30. United States Steel- This was the first billion dollar corporation, $1.4 billion, larger than the total sum of wealth in the nation in 1800.
31. Gospel of wealth- This was an essay written by Andrew Carnegie, talks about how we need to make sure that large sums of money gets to those who will spend it wisely so it will benefit all.
32. Haymarket Riot- This was a demonstration in Chicago; police advanced on a Knights of labor meeting, a dynamite bomb was thrown and hurt many.
33. New South- This was the American south after 1877.
34. Yellow dog contract- This was the agreement between an employee and employer that means the employee can't join a Labor Union.
35. National Labor Union- This was the first labor federation in the United States, founded 1866 and dissolved 1873.
36. William Graham Sumner- He was an American academic, taught at Yale, first to teach Sociology.
37. American Federation of Labor- This was one of the first labor federations in America, founded in 1886.
1. Identify the abuses of the railroad industry and discuss how these led to the first efforts at industrial regulation by the federal government.
The primary abuse by the railroads was the pricing charged to farmers who were at the mercy of the railroads to ship their produce to market. The railroads offered preferential pricing to their best customers; but then charged much higher rates for smaller customers, usually small farmers. The abuse was so great that the Populist party proposed in its platform that the railroads should be nationalized.
As a result of widespread outcry, Congress passed the Interstate Commerce Act which required railroads to charge uniform rates per ton mile regardless of the identity of the shipper or the amount shipped; and to post rates in advance. This was one of the first major moves by the federal government to regulate industry.
2. Describe how the economy came to be dominated by giant “trusts,” such as those headed by Carnegie and Rockefeller in the steel and oil industries.
The trusts became dominant in American industry because of the then practice of laissez faire capitalism: the belief that government should not involve itself in business. The result was a number of shady business practices and opportunistic gambles on business. Andrew Carnegie knew nothing of the steel business, but accumulated enough cash to purchase a steel company and then bought out his competitors one by one when business was bad.
John D. Rockefeller actually ran competitors out of business. He formed a marketing company and dictated to the railroads the amount he would pay to ship his oil, and also spied on his competitors. In six weeks he managed to squeeze 90 per cent of his competitors out of business by selling oil below cost which they could not afford to do. When they finally collapsed, he bought them out at his own price--normally substantially below market price--and soon controlled over 90% of the U.S. oil refining business. When the competition was eliminated, they created a trust which operated virtually the entire industry.
3. Discuss the growing class conflict caused by industrial growth and combination, and the early efforts to alleviate it.
In the fast-growing industrial sector, wages were about double the level in Europe, but the work was harder with less leisure. The first major effort to organize workers' groups on a nationwide basis appeared with The Noble Order of the Knights of Labor in 1869. The Knights grew slowly until they succeeded in facing down the great railroad baron, Jay Gould, in an 1885 strike. Within a year, they added 500,000 workers to their rolls, far more than the thin leadership structure of the Knights could handle.
The Knights of Labor soon fell into decline, and their place in the labor movement was gradually taken by the American Federation of Labor (AFL).
His objectives were "pure and simple": increasing wages, reducing hours and improving working conditions.
The Haymarket Riot took place in 1886, when an anarchist apparently threw a bomb at police dispersing a strike rally at the McCormick Harvesting Machine Company in Chicago. The killing of policemen greatly embarrassed the Knights of Labor, which was not involved with the bomb but which took much of the blame.
4. Analyze the social changes brought about by industrialization, particularly the altered position of working men and women.
Moving into major cities to work in the mills and factories created poor living conditions for the working class. Not everybody was entirely happy with this situation, in fact there were many uprisings who tried to smash machines in factories and mills because it put skilled workers out of jobs. Farmers tried to smash threshing machines because they could do the work of many men and took relatively little skill.
Further, this era introduced child labor which was quite horrific--children working in mills, factories, and in coal mines where the conditions were dangerous and life expectancy was unbelievably
short.
The major social change in the position of workers that was brought about by industrialization was a loss of autonomy and dignity.
Before industrialization, workers were their own bosses. They decided when to work and how hard to work. They generally did skilled labor. After industrialization, this all changed. Now workers went to work when they were told to and worked until they were told they could stop. They were now doing less skilled work, just operating machines instead of crafting goods themselves.
5. Explain the failures of the Knights of Labor and the modest success of the American Federation of Labor.
The Knights of Labor failed largely because they were too radical while the American Federation of Labor had some amount of success mostly because they were much more moderate.
The Knights of Labor were quite radical. They wanted to abolish the capitalist system. In addition, they represented both skilled and unskilled workers. These things made the general public dislike them and gave them less leverage when bargaining with employers.
The AFL was more moderate, wanting only better working conditions and wages within the system. They represented only skilled workers. These things made them more acceptable to the general public and gave them more leverage over employers.
1. Leland Stanford- He was one of the "Big Four" who backed the Central Pacific Railroad. He was the ex-governor of California with useful political connections.
2. Collis P. Huntington- He was one of the "Big Four" who was an adept lobbyist.
3. James J. Hill- He created the Great Northern railroad and was the greatest railroad builder of all time.
4. Cornelius Vanderbilt- He was the head of New York Central railroad and he financed successful western railroads.
5. Jay Gould- He made millions of dollars by embezzling stocks from several railroad companies.
6. Alexander Graham Bell- He invented the telephone which launched a new age.
7. Thomas Edison- He was the "Wizard of Menlo Park" who invented the electric light …show more content…
bulb and had many other inventions as well.
8. Andrew Carnegie- He used vertical integration, mined, transported, and refined iron/steel to maximize profits. He donated $350 million to charities, libraries.
9. John D. Rockefeller- He used "horizontal integration" and allied with or bought out competitors to gain a monopoly; monopolized oil.
10. J. Pierpont Morgan- He made a fortune in banking and Wall Street, He bought Carnegie's steel company at $400 million and turned it into United States Steel Corporation, the world's first billion dollar corporation. He used interlocking directorates.
11. Terence V. Powderly- He was the leader of the Knights of Labor; eloquent, but inconsistent.
12. John P. Altgeld- A Democrat, governor of Illinois, pardoned 3 Knights of Labor after a bombing incident.
13. Samuel Gompers- He founded the American Federation of Labor and demanded better wages, hours, and working conditions.
14. Land grant- This was given by the government to railroad companies to build railroads on; encouraged many railroads, including multiple transcontinental railroads.
15. Stock watering- This was a method of cheap money making; over-inflated railroad stocks and then sold them at huge profits.
16. Pool- These were modern day trusts; group of competitors working together usually to set prices. 17. Rebate- This helped the wealthy but not the poor; rail barons gave them to powerful shippers in exchange for using their railroads consistently.
18. Vertical integration- This was controlling the entire production line to maximize profits e.g. mining, shipping, and refining iron.
19. Horizontal integration- This was controlling the entire market to maximize profits e.g. creating a monopoly.
20. Trust- These were giant, monopolistic corporations.
21. Interlocking directorate- This was a process of placing men from your company on the board of directors of other competing companies to gain influence and reduce competition.
22. Capital goods- These were goods used to make other goods.
23. Plutocracy- This was rule by the wealthy; money equals power.
24. Injunction- This was a method used by corporations to handle strikes; a court order against strikers to get them to stop striking.
25. Union Pacific Railroad- This was the eastern side of the first Transcontinental Railroad; commissioned by Congress in 1862.
26. Central Pacific Railroad- This was the western side of the first transcontinental railroad; used Chinese workers.
27. Grange- This was formed by farmers to prevent corruption, such as the railroad monopoly; they were stopped after the Wabash case ruling.
28. Wabash case- This was a Supreme Court case that lead to a huge diminishment of state rights in 1886 involving interstate commerce.
29. Bessemer process- This was the first inexpensive industrial process for the mass production of steel and pig iron, patented in 1855.
30. United States Steel- This was the first billion dollar corporation, $1.4 billion, larger than the total sum of wealth in the nation in 1800.
31. Gospel of wealth- This was an essay written by Andrew Carnegie, talks about how we need to make sure that large sums of money gets to those who will spend it wisely so it will benefit all.
32. Haymarket Riot- This was a demonstration in Chicago; police advanced on a Knights of labor meeting, a dynamite bomb was thrown and hurt many.
33. New South- This was the American south after 1877.
34. Yellow dog contract- This was the agreement between an employee and employer that means the employee can't join a Labor Union.
35. National Labor Union- This was the first labor federation in the United States, founded 1866 and dissolved 1873.
36. William Graham Sumner- He was an American academic, taught at Yale, first to teach Sociology.
37. American Federation of Labor- This was one of the first labor federations in America, founded in 1886.
1. Identify the abuses of the railroad industry and discuss how these led to the first efforts at industrial regulation by the federal government.
The primary abuse by the railroads was the pricing charged to farmers who were at the mercy of the railroads to ship their produce to market. The railroads offered preferential pricing to their best customers; but then charged much higher rates for smaller customers, usually small farmers. The abuse was so great that the Populist party proposed in its platform that the railroads should be nationalized.
As a result of widespread outcry, Congress passed the Interstate Commerce Act which required railroads to charge uniform rates per ton mile regardless of the identity of the shipper or the amount shipped; and to post rates in advance. This was one of the first major moves by the federal government to regulate industry.
2. Describe how the economy came to be dominated by giant “trusts,” such as those headed by Carnegie and Rockefeller in the steel and oil industries.
The trusts became dominant in American industry because of the then practice of laissez faire capitalism: the belief that government should not involve itself in business. The result was a number of shady business practices and opportunistic gambles on business. Andrew Carnegie knew nothing of the steel business, but accumulated enough cash to purchase a steel company and then bought out his competitors one by one when business was bad.
John D. Rockefeller actually ran competitors out of business. He formed a marketing company and dictated to the railroads the amount he would pay to ship his oil, and also spied on his competitors. In six weeks he managed to squeeze 90 per cent of his competitors out of business by selling oil below cost which they could not afford to do. When they finally collapsed, he bought them out at his own price--normally substantially below market price--and soon controlled over 90% of the U.S. oil refining business. When the competition was eliminated, they created a trust which operated virtually the entire industry.
3. Discuss the growing class conflict caused by industrial growth and combination, and the early efforts to alleviate it.
In the fast-growing industrial sector, wages were about double the level in Europe, but the work was harder with less leisure. The first major effort to organize workers' groups on a nationwide basis appeared with The Noble Order of the Knights of Labor in 1869. The Knights grew slowly until they succeeded in facing down the great railroad baron, Jay Gould, in an 1885 strike. Within a year, they added 500,000 workers to their rolls, far more than the thin leadership structure of the Knights could handle.
The Knights of Labor soon fell into decline, and their place in the labor movement was gradually taken by the American Federation of Labor (AFL).
His objectives were "pure and simple": increasing wages, reducing hours and improving working conditions.
The Haymarket Riot took place in 1886, when an anarchist apparently threw a bomb at police dispersing a strike rally at the McCormick Harvesting Machine Company in Chicago. The killing of policemen greatly embarrassed the Knights of Labor, which was not involved with the bomb but which took much of the blame.
4. Analyze the social changes brought about by industrialization, particularly the altered position of working men and women.
Moving into major cities to work in the mills and factories created poor living conditions for the working class. Not everybody was entirely happy with this situation, in fact there were many uprisings who tried to smash machines in factories and mills because it put skilled workers out of jobs. Farmers tried to smash threshing machines because they could do the work of many men and took relatively little skill.
Further, this era introduced child labor which was quite horrific--children working in mills, factories, and in coal mines where the conditions were dangerous and life expectancy was unbelievably
short.
The major social change in the position of workers that was brought about by industrialization was a loss of autonomy and dignity.
Before industrialization, workers were their own bosses. They decided when to work and how hard to work. They generally did skilled labor. After industrialization, this all changed. Now workers went to work when they were told to and worked until they were told they could stop. They were now doing less skilled work, just operating machines instead of crafting goods themselves.
5. Explain the failures of the Knights of Labor and the modest success of the American Federation of Labor.
The Knights of Labor failed largely because they were too radical while the American Federation of Labor had some amount of success mostly because they were much more moderate.
The Knights of Labor were quite radical. They wanted to abolish the capitalist system. In addition, they represented both skilled and unskilled workers. These things made the general public dislike them and gave them less leverage when bargaining with employers.
The AFL was more moderate, wanting only better working conditions and wages within the system. They represented only skilled workers. These things made them more acceptable to the general public and gave them more leverage over employers.