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What is a "boomtown"?
Towns that grew rapidly due to some type of economic growth
What is it called when a single company achieves control over an entire market?
Monopoly
Who drilled the first oil well? Took place in Pennsylvania.
Edwin Drake
What crop did the U.S. become the leading exporter of in the 1880s?
Wheat
What type of people did the "Comstock Lode" bring in?
Prospectors
Alexander Graham Bell founded the Bell Telephone Company, which is now called what?
AT&T
What is the difference between a craft worker and a common laborer?
Craft workers had special skills and received higher wages, whereas, common laborers had few skills and received fewer wages
What act altered the reservation system by dividing reservation land into allotments (a plot of land assigned to an individual or a family for a specified use)for farming or ranching and allotted 160 acres to each head of household?
The Dawes Act
What is a vigilance committee?
Self-appointed volunteers who would track down and punish wrongdoers
Who was involved in the Credit Mobilier Scandal?
Oakes Ames, who was a member of Congress and Credit Mobilier was a construction company set up by several stockholders
What is a homestead?
Tract of public land available for settlement
Why did judge Lorenzo Sawyer issue an injunction against hydraulic mining?
He declared it a "public and private nuisance".
What factor(s) caused the open range to end?
Hundreds of square miles were fenced in by barbed wire that blocked cattle trails and farmers came in and broke up the land for their crops
What was the significance of the open range?
Ranchers could herd their cattle free of charge in a vast grassland area owned by the federal government
What is a "robber baron"?
People who loot an industry and become rich unethically
What type of mining involves diverting the current or river into a trench that leads to a box with a metal riffle bar?
Sluice mining
Between 1860 and 1910 the U.S. population tripled. What factors contributed to this massive population increase? There are 3.
Increase in immigration, better living conditions, and longer lifespans
What is the difference in fixed and operating?
Fixed costs are costs a company pays even if it is not operating. Operating costs are incurred when running a company
How did a laissez-faire economy benefit consumers?
The intense competition led to falling prices so consumers got a cheaper rate on the product
Why were employers having to negotiate with trade unions?
The unions represented workers whose skills they needed
What were Native Americans required to do at the boarding schools that the Bureau of Indian Affairs sponsored?
Speak English, choose an American name, dress in American-style clothes, cut their hair to match American styles, attend church, and learn vocational skills
Why/how did a “lockout” break up unions?
They locked workers out of the property and refused to pay them, and if the union tried to go on strike then the companies would fire them and hire new personnel
What were some negatives of laissez-faire?
Governments could not regulate working conditions so working conditions were unsafe
What did the Indian Peace Commission do?
Proposed creating two large reservations on the Plains, one for the Sioux and another for Native Americans of the Southern plains
Baltimore and Ohio Railroad announced they were cutting wages, for the third time. How did the workers respond to this?
They started blocking tracks, walking off the job, destroyed equipment, and destroyed tracks
What did the Pacific Railway Act do?
This act gave two corporations-the Union Pacific and the Central Pacific-permission to build a transcontinental railroad. It also offered each company land along its right-of-way
What were the goals of the Knights of Labor?
A third party helps workers and employers reach an agreement
What is a trust, holding company, and investment banking?
A trust is a legal arrangement that allows one person to manage another person’s property. A holding company it owns the stock of companies that did produce goods, and it effectively merges the companies into one large enterprise. Investment banking specializes in helping companies issue stock