U.S. History Ch. 4-7 Test

Laissez-faire

• "out of many comes one"

• "hands off" approach

• a belief in the equlaity of all people

First Amendment

• protects freedom of religion, speech, press, and assembly

• guarantees jury trials

• protects the right of citizens to bear arms

Bessemer Process

• complete control of a product or business by one person or group

• this federal law prohibited unfair practices by railroads, such as charging higher rates for shorter routes

• a way to manufacture steel quickly and cheaply

Transcontinental Railroad

• it linked the eastern railroad system with California's railroad system, revolutionizing transportation in the west

• a way to manufacture steel quickly and cheaply

• invented the telephone

Gilded Age

• an association of workers, formed to bargain for better working conditions and higher wages

• A name for the late 1800s, coined by Mark Twain to describe the tremendous increase in wealth caused by the industrial age and the ostentatious lifestyles it allowed the very rich

• complete control of a business or product by one person or group

Captain of Industry

• business leader who contributed to the country while gaining their fortune.

• Industrialist who made a fortune in steel in the late 1800s through vertical consolidation; as a philanthropist, he gave away $350 million as part of his Gospel of Wealth

• The purpose of this federal law was to stop monopolies engaging in unfair practices that prevented fair competition

Andrew Carnegie

• He was the creator of the American Federation of Labor. He provided a stable and unified union for skilled workers.

• Invented the telephone

• Industrialist who made a fortune in steel in the late 1800s through vertical consolidation; as a philanthropist, he gave away $350 million as part of his Gospel of Wealth

John D. Rockefeller

• American industrialist and philanthropist, most famous for founding the Standard Oil Company, which dominated the oil industry and became one of the first major business trusts in the United States

• Industrialist who made a fortune in steel in the late 1800s through vertical consolidation; as a philanthropist, he gave away $350 million as part of his Gospel of Wealth

• Inventor of lightbulb, phonograph and numerous other innovations

Monopoly

• An association of workers, formed to bargain for better working conditions and higher wages.

• Complete control of a product or business by one person or group

• tried to unite all American workers, both skilled and unskilled, into one national labor union, but this was not successful.

Interstate Commerce Act

• The purpose of this federal law was to stop monopolies engaging in unfair practices that prevented fair competition

• 1886; founded by Samuel Gompers; sought better wages, hrs, working conditions; skilled laborers, arose out of dissatisfaction with the Knights of Labor, rejected socialist and communist ideas, non-violent.

• This federal law prohibited unfair practices by railroads, such as charging higher rates for shorter routes.