Iron horse: locomotive
Central Pacific: RR between California and Utah
Union Pacific: premiere RR franchise
Interstate Commerce Act: In 1887, Congress passed the Interstate Commerce Act which created the Interstate Commerce Commission, the first true federal regulatory agency. It was designed to address the issues of railroad abuse and discrimination and required the following: * Shipping rates had to be "reasonable and just"
* Rates had to be published
* Secret rebates were outlawed
* Price discrimination against small markets was made illegal Interstate Commerce Commission: regulating the rates and services of specified carriers Vertical Integration: the control of all aspects of production from the mining of raw materials to the selling of the final product Ex: ANDREW CARNAGIE
Horizontal Integration: building a trust by eliminating competition Trust: A special trust or business trust is a business entity formed with intent to monopolize business, to restrain trade, or to fix prices The Bessemer Process: The Bessemer process was the first inexpensive industrial process for the mass-production of steel from molten pig iron The Gospel Of Wealth: Andrew Carnegie wrote this about the responsibilities of the wealth and how they should help the poor help themselves Social Darwinism: notion of survival of the fittest, eliminating the unfit benefits the society, people who are poor have a deficiency in their gene pool AMERICAN FEDERATION OF LABOR (AFL): SAMUEL GOMPERS, skilled workers only, bread and butter improvements only, they demanded less and were conservative Haymarket Square: Chicago wanted an 8 hour work day, bomb went off and civilians and officers were killed, caused downfall of knights of labor because one of the suspects had a knights of labor card Knights of Labor: TERRENCE V POWDERLY, included blacks and women, bread and butter improvements and long term political reform Industrial Workers of the World/ Wobblies:...
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