CHapter 24 Reading Check

in 1862, congress commissioned this railroad to begin westward from Omaha, Nebraska, to gold rich California

corruption plagued the railroads as the insiders of these people reaped $23 million in profits

sometimes indians would attack to try to save their lives and many Irish (who layed the tracks) and indians would die

Over in California this railroad was in charge of extending the railroad eastward, and it was backed by the Big Four

stretched from Lake Superior to the Puget Sound and was finished in 1883

stretched through the southwest deserts and was completed the following year in 1884

(completed in 1884) went from New Orleans to San Francisco

Ran from Duluth to Seattle and was the creation of James J. Hill, probably the greatest railraod builder of all

• steel rail- strongher then iron rail
• westinghouse airbrake- increased safety
• pullman palace car-luxurious passenger cars
• telegraphs double racking and block signals

Due to railroads the creation of this occured on Novemeber 18, 1883, instead of each city having its own times zone (which was confusing to operators

made millions embessling stocks from Erie, Kansas Pacific, The Union Pacific, and the Texas and Pacific railroad companies

a mehtod of cheap money making in which railroad companies grossly over-inflated the worth of their stock and sold them at huge profits

Pools aka "cartel" a group of supposed competitors who agree to work together, usually to set prices

formed by farmers to combat railroad corruption

this ruled that states could not regular interstate commerce such as trains

passed in 1887, banned rebates and pools and required the railroads to publish their rates openly, and also forbade unfair discrimination against shippers and banned charging more for a short faul than for a long one

set up to enforce the Act

• fully exploited natural resources
• massive immigration/cheap labor
• american ingenuity played a vital role, with inventions like mass production

invented the telephone and a new age was launched

the "wizard of Menlo Park" was the most versatile inventor, bets known for his electric light bulb

Andrew Carnegie used this method which meant that he bought out and controlled all aspects of an industry

Jogn D. Rockefeller master of this method simply allied with or bought out competitors to monoplize a given market

J. P. Morgan used this process when he plaved his own men on the boards of directors of other rical competitors to gain influence there and reduce competition

• Discovered by William Kelly made steel-making cheaper
• Cold air blown on red hot iron burned carbon deposits and purified it

In 1901, a company that be came the worlds first billion dollar corporation

• ruthless and merciless, organized the Standard Oil Company of Ohio in 1882
• Crushed weaker competitors, but his company did produce supieror oil and low prices

the meat industry of Gustavus F. Swift and Philip Armour

Many of the newly rich had worked from poverty to wealth and thus felt that some people in the world were destined to become rich and then help society with thier money

applied Charles Darwins survival-of-the-fittest theories to business. It said the reason a Carnegie was at the top of the steel industry was that he was most fit to run such a business

became rich by delivering his lecture, "Acres of Diamonds" in which he preached that poor people made themselves poor and rich people made themselves rich

the wealth rule

in 1890 this act was signed to law, it forbade combinations (trusts, pools.....) in restrain of trade without any distinction between "good" and "bad" trusts

developed a huge cigarette industry in the for of the American Tobacco Company

• created by Charles Dana Gibson beacame the romantic ideal of the age
• she was young attractive and outdoorsy (not the stay-at-home mom type)

• formed in 1866 represented a giant boot stride by workers and attracted an impressice total of 60000 members, but it only lasted six years
• it worked for the arbitration of industrial disputes and the eight hour workday and won the latter for government workers

• begun in 1869 and continued secretly until 1881
• only barred liquor dealers , professional gamblers, lawyers, bakers, and stockbrokers and they compaighned for economic and social reform

in 1892 a german born Democrat was elected governor of Illinois and pardoned the three surcicors after studying the case extensively

eight anarchist threw a bomb killing and injurying many people at a knights of labor protest

• in 1886 founded the American Federation of Labor
• He simply wanted more and sought better wages hours and working conditions

• composed of skilled laborers
• "the Labor Trust"

in 1894 was made a legal holiday