Name:
Unit 2B Interactive Vocab:
The Gilded Age
Word
Definition
1. Gilded Age (99)
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Outside
Inside
2. Alexander Graham Bell
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Period:
Analysis
Give an example of how the
Period from 1865-early 1900’s
The term was created by writers Gilded Age was ‘rotten’ on the
inside.
Mark Twain and Charles Dudley
Warner in The Gilded Age: A Tale
of Today
Industrialists earned great
fortunes, but society was tainted
by political corruption and a huge
gap between rich and poor.
Scottish-born American inventor
responsible for the invention of
the telephone 1876
Educator of the deaf
What would Bell think of cell
phones today?
3. Thomas Edison
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American inventor
Inventions included the
phonograph, incandescent
electric light, the microphone,
and the Kinetoscope (1847-1931)
Why would electric light be so
important during this time?
4.
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Developed in England by Henry
Bessemer in 1855
A way of producing large
quantities of steel efficiently and
affordably, making the
production of steel more
efficient.
Used by Andrew Carnegie in his
steel mills
Individuals are free to produce
and sell whatever they wish
People go into business to make
a profit and prices are set by
supply and demand.
Limited government interference
How was steel used during this
time period?
Bessemer Process (64,67)
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5. Free Enterprise
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What would be a negative
consequence of a Free Enterprise
System?
6. Corporation (73)
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7. Entrepreneur
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8.
Monopoly (74)
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9. Trust (74)
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10. Andrew Carnegie
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11. Vertical Integration (73-76)
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Common form of ownership of a
business after the Civil War
An independent legal entity
owned by shareholders, and the
shareholders have share in the
profit and loss of the corporation
based on how much they
invested, or own
What else do you know about
corporations?
A person who starts a business
and is willing to risk loss in order
to make money
Bold risk takers who established
new businesses
Would you want to be an
entrepreneur? Why or why not?
When an individual or single
company dominates an industry
A company having complete
control over the supply of a
product or service
Give an example of a monopoly
today:
Used to reduce competition and
as a way to consolidate (bring
together) many companies under
more efficient control
The set of companies are
managed (run) by a small group
known as trustees
Why would trusts be bad for
consumers?
Scottish immigrant
Created the Carnegie Steel
Company
Used vertical integration to
create a monopoly of steel
Sold his company and donated
$288 million to social and
educational causes in the U.S.
Method used by Andrew
Carnegie and others to expand
their corporations and industries
Involves taking control of each
step in the production and
distribution of a product from
acquiring raw materials to
manufacturing, packaging, and
shipping
Do you think Carnegie was a
robber baron or a captain of
industry? WHY?
Do you think Vertical Integration
exists today? Why or why not?
12. John D. Rockefeller (74)
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13. Horizontal Integration (74)
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14. J.P. Morgan
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15. Robber Baron (76)
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16. Social Darwinism (76)
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17. Captain of Industry (76)
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One of the richest Americans in
history
Founder of the Standard Oil
Company and (later) a
philanthropist whose wealth
bankrolled the Rockefeller
Foundation
Regarded as a Robber Baron due
to his ruthless business tactics
Method used by John D.
Rockefeller (Standard Oil) and
others to expand their
corporations
Calls for joining together as many
firms from the same industry as
possible
It involved controlling one aspect
of the production process
Give an example of a tactic
Rockefeller used:
An American financier and
banker who dominated
corporate finance and industrial
consolidation
Used his wealth to build trusts
Bought other monopolies—ex.
Carnegie’s Steel became U.S.
Steel
Businessmen who used ruthless
tactics to destroy competition
and keep wages low
Tactics such as exploitation,
misuse of governmental
influence, or low wages
Are there any business owners
today who own massive sectors
of our economy like Morgan did?
If so, who?
Based on Charles Darwin’s theory
of evolution and used to justify
the gap between the rich and the
poor.
the best-run business led by the
most capable people will survive
and prospers
Explain why social Darwinism
might be good or bad.
A business leader whose means
of amassing or getting a personal
fortune contributes positively to
the country in some way.
Examples: through increased
productivity, expansion of
markets, providing more jobs, or
acts of philanthropy – a person
who gives money to support
worthy causes.
What is the difference between a
robber baron and a captain of
industry?
Do you think Horizontal
Integration creates fair
competition? Why or why not?
Do we have Robber Barons
today? If so who, if not why not?
18. Gospel of Wealth
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19. Sherman Antitrust Act (77)
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20. Political machine (137)
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21. William Tweed (Boss Tweed)
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22. Tammany Hall
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Article written by Andrew
Carnegie in 1889
The wealthy had to prove
themselves morally responsible
according to the “Gospel of
Wealth”
Rich people had a duty to use
their surplus wealth for “the
improvement of mankind and to
share their surplus means in a
responsible and thoughtful
manner.
An 1890 federal law that
outlawed trusts, monopolies, and
other forms of business that
restricted trade
Purpose was to stop monopolies
engaging in unfair practices that
prevented competition.
If you were rich what would be
some ways you would help
people?
Full-time politicians whose main
goal was to get and keep political
power and the money and
influence that went with it.
Dominated politics in American
cities during the late nineteenth
century.
Run by political bosses
Machines provided jobs and
other services to immigrant and
poor in exchange for their votes.
Used “spoils system”
A New York politician that
eventually became the head of
the Tammany Hall
"Boss" Tweed gained absolute
power in the city Democratic
Party, controlling party
nominations and party
patronage.
Give two examples of why
political machines were good
things.
Give two examples of why
competition is good between
businesses.
Why do you think Thomas Nast
drew his head like a money bag?
Democratic political organization Where is Tammany Hall?
that dominated New York City
politics from mid 1850s—1920s.
Strength and power came from
the city's immigrant population.
Political bosses gained political
support by providing jobs and
services to working-class
immigrant voters
23. Graft (
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24. Spoils System (136)
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25. Labor Union (81)
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26. Samuel Gompers (82)
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27. Eugene V Debs
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28. Strike (83-84)
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29. Scabs
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To take illicit or unfair advantage
of an office or a position of trust
for personal gain
Example: a city mayor building a
private pool at his home with
some of the city budget money
allocated to build a public library.
Why is graft bad?
The practice of giving appointed
positions in government to
people loyal to the party in
power
Rewarding loyal supporters of a
politician with good government
jobs, whether qualified or not.
Pendleton Act of 1883 fixed this.
A type of labor organization that
unites all workers within a
particular industry so they can
act as a group instead of
individually.
Created better bargaining power
with employers.
Focus on three primary goals:
higher wages, shorter hours, and
better working conditions.
United States labor leader
President of the American
Federation of Labor (AFL) from
1886 to 1924
Wanted economic improvements
for workers: higher pay; 8 hour
day, better working conditions.
What could be a bad
consequence of the spoils
system?
Leader of the American Railway
Union
Organized the Pullman Strike
Went to prison for refusing to
stop the strike
Helped found the US Socialist
Party (and run for president)
Why did the Government want to
stop the strike?
A form of protest used by
workers to get better working
conditions
A temporary stoppage of normal
activity undertaken as a protest.
What are other forms of protest
that a worker can use?
Which of the three goals is most
important to you and why?
Define Federation.
Is being a “scab” a good or bad
A worker who refuses
thing? Why?
membership in a labor union
or an employee who works while
others are on strike = a
strikebreaker
30. The Great Railroad Strike
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31. Haymarket Strike (83)
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32. Homestead Strike
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33. Pullman Strike
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1877-first major strike
Nationwide strike where
strikers were responding to
wage cuts
Strikes caused massive
property destruction in several
major cities
State militias were called in to
protect the strikebreakers
(scabs)
The federal government sent in
troops to restore order
A labor protest rally near
Chicago’s Haymarket Square
turned into a riot after
someone threw a bomb at
police in 1886
workers wanted an 8 hour
workday
At least eight people died.
Eight radical labor activists
were convicted in connection
with the bombing.
a setback for the labor unions,
specifically Knights of Labor
1892 Strike at the Carnegie
Steel Plant in Homestead,
Pennsylvania, due to cut
worker wages
Carnegie’s Partner, Henry Frick,
hired a private police force (the
Pinkertons) to break up the
strike
Several strikers were killed and
more were wounded in a
standoff that lasted 2 weeks
Why were the state militias called
in?
Pullman cut his employee pay
rates by 25%
He did not lower his company
housing rent
In May of 1894 a small
delegation of workers met to
discuss issues with Pullman
He fired 3 workers and the
strike began
Strikers asked the American
Railway Union for help and this
led to a nationwide strike
President Grover Cleveland
ordered the strikers back to
work
Why did the president order the
strikers back to work?
Why would this be a setback for
Labor Unions?
Why did the strike begin?
34. Credit Mobilier
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35. Rutherford B. Hayes
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36. Grover Cleveland
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37. William McKinley
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Union Pacific Railroad created
the Credit Mobilier construction
company, then hired themselves
at high prices to build the
railroad.
Company earned huge dividends
and made a lot of money.
Shares of company given to key
congressmen
Huge scandal under the Grant
Administration.
was the 19th President (1877-81)
Oversaw the end of
Reconstruction and restored
trust in government.
began the efforts that led to civil
service reform and attempted to
reconcile the divisions left over
from the Civil War and
Reconstruction.
Why was the Credit Mobiler a
scandal?
The 22nd and 24th President of
the United States.
Cleveland is the only president to
serve two non-consecutive terms
(1885–1889 and 1893–1897)
Supported big business in strikes.
What is unique (different) about
Grover Cleveland?
The 25th President serving from
March 4, 1897 until his
assassination.
McKinley led the nation to
victory in the Spanish–American
War, raised protective tariffs to
promote American industry, and
maintained the nation on the
gold standard in a rejection of
the populist party proposals.
If McKinley raised tariffs then is
his presidency still practicing
Laissez-faire economics? (why or
why not)
Civil service reform targeted the
spoils system—why did this
system need to be reformed?