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2. Monies given by the government to businesses; purpose is to encourage businesses that benefit the entire nation.

3. What are Subsidies?

4. A banker and financer; orchestrated several blockbuster deals in railroads, insurance, and banking. To many he symbolized the greed, power, arrogance and snobbery of the Gilded Age.

5. Who was J.P. Morgan?

6. The business method in which a corporation tries to control all steps of production from the raw products to the store shelf.

7. What was Vertical Integration?

8. A 1890 law attempting to outlaw trusts; only slightly successful
A 1890 law attempting to outlaw trusts; only slightly successful. But when combined with the ICC, it started the government’s attempt to regulate business for the good of society.

9. What was the Sherman Anti-Trust Act?

10. _________ literally means across the continent
_________ literally means across the continent. The Union Pacific (Omaha, Nebraska) building west linked with the Central Pacific (Sacramento, California) building east. Labor mostly done by Irish “Paddies” and Chinese workers.

11. What was the Transcontinental Railroad?

12. A railroad tycoon; earned his first fortune as a shipping magnate in NY where he gained nickname “The Commodore”, then turned to railroads by consolidating the lines from NYC to Chicago.

13. Who was Cornelius Vanderbilt?

14. Agreements in which employers forced workers applying for jobs to sign a pledge not to join a union.

15. What are the Yellow Dog Contracts?

16. The steel tycoon; master of “vertical integration”; eventually turned to philanthropy and gave huge sums to libraries and art. He wrote The Gospel of Wealth to convince the rich of the responsibility to use wealth for the public good.

17. Who was Andrew Carnegie?

18. A fancy passenger, sleeper railroad car that made train travel popular, chic, and symbolized the emerging dominance of the “Iron Horse.”

19. What was the Pullman “Palace Car”?

20. The business method in which a company expands along one stage of production and often results in either buying out competitors or forcing them out of business; i.e. monopoly.

21. What was Horizontal Integration?

22. Names that employers and owners kept of union agitators and “troublemakers”; then names were freely shared between owners/employers. These scared workers into inaction since once they were on the list, no company would hire them again.

23. What are Blacklists?

24. He manipulated the stocks of railroad companies for his benefit.

25. Who was Jay Gould?

26. Towns essentially owned by the company; workers lived, worked, rented, and bought from the company. With the exception of Pullman, workers never got ahead.

27. What were Company Towns?

28. Inventor of the telephone; teacher of the deaf.

29. Who was Alexander Graham Bell?

30. An 1886 explosion in Chicago during labor disorders that killed several people including police; appeared to be results of German immigrant anarchists yet the public largely placed blame on labor unions that hurt their cause.

31. What was the Haymarket Square Incident?

32. The perfector of the incandescent light and many other inventions such as the phonograph, mimeograph, dictaphone and moving pictures. He said,“Genius is one % inspiration and 99% perspiration.”

33. Who was Thomas Alva Edison?

34. Several practices included (1) a roller-coaster ride of stock prices; (2) bribes to judges and legislators; (3) free passes to journalists and politicians; (4) a “natural monopoly”; (5) pools; (6) rebates to powerful shippers; (7) charging high rates for a short haul (small farmers) and low ones for the long haul (big companies).

35. What was railroad corruption?

36. Methods include blacklists, court injunctions, private security force, yellow dog contracts, and lockouts.

37. What were tactics used by management?

38. The oil tycoon; master of ‘horizontal integration” in which he monopolized the refining stage of production.

39. Who was John D. Rockefeller?

40. Attempted to regulate railroads; had only a mild effect but served as the first time Washington DC tried to regulate business for the good of society. Over time its power has increased due to power to regulate across state lines.

41. What was the Interstate Commerce Commission?

42. Methods include sabotage, slow downs, walkouts, picketing, and strikes.

43. What are tactics used by labor?

44. An iron ore field in Minnesota; ore would be hauled through the Great Lakes then across land to Pittsburgh where it would meet with some coal and make steel.

45. A business that essentially is a monopoly; could drive smaller businesses out by (1) undercutting prices or (2) “economies of scale.”

46. What is a Trust?

47. An early national labor union; focused only on skilled labor, shorter workday, safety in the work place, and fair wages; and therefore, was more successful than the Knights of Labor and the National Labor Union.

48. What was A.F.L. (American Federation of Labor)?