American Republic Chapter 16

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1.) What was Ellis Island?

The island were the largest number of European immigrants entered through-operated 1892-1954, handled more than 17 million immigrants.

2.) What was the Exclusion Act of 1882?

An act that reduced Chinese immigration to a few hundred a year because Californians complained they were stealing American jobs

3.) What was consolidation?

The combining of small railroad lines-a means of making railroads more efficient and more economical- standardized gauge- 4 feet, 8.5 inches

4.) Who was Cornelius Vanderbilt?

A man who dreamt of connecting the Great Lakes to NYC by rail and convinced all of his competitors to sell their railroads to him-ruthless, an empire builder

5.) What was the Union Pacific Railroad?

The railroad built east to west by Irish laborers and war veterans

6.) What was Promontory Point?

The point where the Union Pacific and the Central Pacific met near Ogden, Utah, in 1869

7.) What was the Central Pacific Railroad?

The railroad built west to east by Chinese laborers

8.) Who was James J. Hill?

"Empire Builder", built the Great Northern railroad all by private funds

9.) What was the Great Northern Railroad?

The railroad built by James J. Hill that went around mountains from ND and Montana to Canada and made a profit, unlike others at the time

10.) Who was Alexander Graham Bell?

The man who invented the telephone that led to new industries and big changes in American life

11.) Who was Thomas Edison?

The man who promoted the generation of electricity, harnessed it to patent the lightbulb and patented 1,093 inventions

12.) What was capital?

Investment money needed to help businesses improve production

13.) What was a sole proprietorship?

A business owned by one person- met individual needs, suffered ALL loses, made ALL profits

14.) What is a partnership?

A business owned by two or more people where they split all profits, loose evenly, and if one person pulls out/dies, it fails

15.) Who was Andrew Carnegie?

The man who wrote the "gospel of wealth", built a huge steel empire by a partnership, and gave all his riches away

16.) What was a corporation?

A business that needs a legal charter and sells stocks to individual inventors. Stockholders lose what they put in, make a dividend, banks take money and invest, life insurances + banks also invest

17.) Who was John D. Rockefeller?

The man who, with his associates, formed the first trust-Standard Oil

18.) What is a trust?

Something that combines several separate companies into one supersized corporation

19.) What is capitalism?

An economy where people are free to invest in business and make profits on investments

20.) What is Social Darwinism?

(In terms of industry)-said people could pile up their wealth by any means possible because there was a struggle for survival in nature and only the fittest/best could survive

21.) What was the Interstate Commerce Act?

America's first major act to regulate business-a reaction to the unjust practices of the railroad, regulation of said rates, directed rails to set reasonable and just rates in 1887

22.) What was the Sherman Antitrust Act?

Passed in 1890 during the Benjamin Harrison presidency, had little effect, vaguely worded, said any kind of corporation or trust that stifles free trade was illegal-holding companies got around

23.) What was a holding company?

Each H.C. gained control of companies by buying their stock and made decisions for them, controlled business as effectively as trusts before them

24.) What were the Knights of Labor?

Founded by Uriah Stevens, began in 1869, sought equal pay, 8 hour day, safety features, compensation for injuries, members grew rapidly, strikes and anarchists ruined it, gave unions a bad name

25.) What was the Ameican Federation of Labor?

Founded by Samuel Gompers, began in 1881, skilled workers, high dues, no women, collective bargaining, workers joined local craft unions, injunctions-court orders to end strikes

26.) Who was Samuel Gompers?

A British-born cigar-maker who founded the American Federation of Labor.

27.) What was collective bargaining?

The right of unions to represent workers in negotiations with owners and managers

28.) What was materialism?

The way where you are setting a higher value on money and possessions than God and Christlikeness when you should want neither wealth nor poverty