US History Mrs. McClary

 1870’s US spans from Atlantic to Pacific.  Pacific Railway Act (1862) linked railroads to form the Transcontinental Railroad.  Railroads made life out west possible by allowing farmers and ranchers access to eastern markets and resources.  Railroads also made it easier for people too move west and populate territories.  Cattle, farms, goods, and people began to populate the west.

 Irish and Chinese immigrants made up the majority of the workforce on the railroad.  After the completion, Chinese were competing for jobs with white Americans.  Chinese faced racism and were eventually banned from immigrating to the US in the Chinese Exclusion Act in  This law was not repealed (overturned) until 1943.

A. They stalled the need for new inventions. B. They assisted in maintaining cultural traditions in the area. C. They changed the physical characteristics of a region. D. They stalled migration. [Default] [MC Any] [MC All]

 Robber barons were extremely wealthy businessmen who eliminated their competition by forming a monopoly.  Monopoly: total control of an industry  Cornelius Vanderbilt: Railroad between NYC and Chicago  Andrew Carnegie: steel industry  Steel and oil industry grew as a result of the railroads.

Cornelius VanderbiltAndrew Carnegie

 This most important name associated with big business is John D. Rockefeller.  He founded Standard Oil Company, which was the nations’ first trust.  Trust companies unite different companies into one system.  Trusts exists to destroy competition and create monopolies (a market in which there is only one supplier of a product).  For example, if Verizon was the only cell phone company today. What could they do?

 He was able to dictate prices, eliminate competition and control the U.S. oil industry.  He used vertical integration: a business strategy in which one corporation owns not only the company that produces the finished product, but also the companies that provide the materials needed for production.  Standard Oil Company was very corrupt and would eventually be criticized for its practices.

A. They increased competition among similar businesses. B. They reduced the need for government intervention. C. They spread equal wealth among the entire population. D. They reduced the number of small businesses within an industry. [Default] [MC Any] [MC All]

A. To assist robber barons B. To eliminate government intervention in business C. To protect trade and growth of monopolies D. To eliminate big business monopolies [Default] [MC Any] [MC All]

 By 1900, 30% of all industry in the US was controlled by monopolies and robber barons.  US government would try to stop trusts and monopolies through laws like the Interstate Commerce Act (1887) and the Sherman Anti- Trust Act (1890).  Often called the “Gilded Age” because of the extreme wealth of the robber barons.  “Millionaire” was a word invented during this time.

A. Eli Whitney B. Thomas Edison C. John D. Rockefeller D. Andrew Carnegie [Default] [MC Any] [MC All]

 Telegraph (1844) and telephone (1876) were invention that connected people across the US.  Electricity allowed industries to form in cities where there were plenty of laborers.  Thomas Edison was most important inventor of the late 1800’s.  Edison invented the following:  Light bulb (1880)  Phonograph (recorded and played back sounds)  Kinetoscope (motion pictures)